The RealReal Names New CEO — Retail Bum

Fashion resale platform The RealReal has named John Koryl as its new CEO and member of its board of directors.

The appointment comes at a time when the company is losing revenue and has strayed away from its goal of reaching profitability by 2024. Last quarter, the company reported a net loss of $47 million on revenue of $143 million, equating to 33% of total revenue compared to 48% in the prior year.

Koryl will be tasked with driving revenue and bringing The RealReal back to profitability.

Before joining the luxury resale marketplace, Koryl most recently served as the president of Canadian Tire Corporation’s digital division. And before that, Koryl was an executive at Neiman Marcus.

“[Koryl] has extensive experience as an e-commerce and omnichannel executive driving operational excellence and profitability,” said Rob Krolik, a lead independent director at The RealReal.

“This experience, combined with his proven track record of successfully developing and growing online businesses, make him the right person to lead The RealReal.”

The company also announced that Rati Sahi Levesque and Robert Julian would return to their previous roles as the chief operating and chief financial officer, respectively. Levesque and Julian had been serving as co-interim CEOs after founder Julie Wainwright abruptly left the company in June 2022.

Koryl’s appointment will become effective February 6, 2023.

Originally published at https://retailbum.com on January 27, 2023.