TheRealReal veteran takes reins as CEO
The chief executive of The RealReal has departed the company after less than two years in the role and no longer serves on its board.
The online luxury goods resale marketplace has named Rati Sahi Levesque, formerly president and COO, as president and CEO and as a member of the board of directors, effective immediately. She succeeds John Koryl, who joined The RealReal in January 2023. No reason was given for his departure.
Levesque helped found The RealReal in 2011 and has served as the company’s COO for nearly six years total. In 2022, she was named interim co-CEO for eight months following the resignation of RealReal founder and CEO Julie Wainwright. Levesque has spent 13 years with The RealReal, and served as chief merchant for more than seven years before being named COO in January of 2019.
“I am thrilled to announce Rati as The RealReal’s next CEO,” said Karen Katz, chairperson of The RealReal’s board. “Rati has been pivotal in formulating and executing the recent strategic shifts that have propelled the company on its path to profitability. Rati’s commitment to the brand, along with her comprehensive understanding of the company, its market opportunity, and the luxury resale landscape, make her the right leader to take The RealReal into our next stage of profitable growth. She has worked in every aspect of the business and brings a proven track record of operational excellence.”
In addition to the CEO announcement, The RealReal shared preliminary financial results from its most recent quarter. The company saw total revenue hit $147.8 million in the third quarter, which beat its previous estimates.
“Our growth playbook, which is centered on unlocking supply, is working with proof points in both top line and margin metrics,” said Levesque. “The RealReal is positioned well as the leader in luxury resale with significant room to grow. Our strong third quarter results are an important step as we focus on growing our business profitably.”
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The RealReal operates one of the world’s largest online marketplace for authenticated, resale luxury goods across numerous categories, including women's and men's fashion, fine jewelry and watches, art and home. It also operates 19 retail locations, including 16 stores where customers can sell, meet with experts and receive free valuations.
