Luxury resale platform The RealReal is betting on a new CEO to help it achieve profitability, after founder Julie Wainwright stepped down from the role last June. The company has announced that John Koryl, an experienced exec whose CV includes stints at Neiman Marcus and Ebay, will become CEO and join its board of directors on 6 February. Chief operating officer Rati Sahi Levesque and chief financial officer Robert Julian, who have been acting as co-interim CEOs of The RealReal since Wainwright stepped down, will resume their respective roles, and Levesque will take on the additional role of president. The RealReal is among a number of fashion companies, including Gap and VF Corp, that have been without a permanent CEO for some time as they fight to regain ground since the pandemic. It is one of several resale and rental platforms that have yet to make the circularity-focused business model profitable, including Thredup and Rent the Runway. Wainwright’s departure came a few months after The RealReal — which went public in 2019 — revealed that its losses had widened to $236 million in 2021, from $176 million the year before. In its most recent earnings, for the third quarter […]
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