The RealReal news and archive

The RealReal losses narrow but revenue continues to fall

Resale luxury marketplace The RealReal reported its fourth quarter and full year results amid an ongoing cost-saving strategy that is currently being carried out by the platform. For the fourth quarter of 2023, the company’s net loss fell from its prior 39 million dollars to 22 million dollars, or 15.1 percent of total revenue, while it also saw...

Business

The RealReal appoints new CFO and chairperson

Resale marketplace The RealReal has announced the appointment of Ajay Gopal as its chief financial officer, effective March 18, while current board member Karen Katz has further been named chairperson of its board of directors. Gopal currently serves as the CFO of Outside Interactive, and brings to the table experience in overseeing tech-enable...

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Sellier founder on resale’s rising detachment from fast fashion

Last week, Vestiaire Collective took its stance on fast fashion one step further. The Parisian resale platform extended its ban on clothing from the category to now cover over 30 brands, with the likes of Zara, H&M, Urban Outfitters and Gap among those newly blacklisted. The move followed a similar ban initiated by the company in 2022, and built...

Business

The RealReal reports decline in Q3 GMV and revenue

Online luxury marketplace The RealReal reported third quarter gross merchandise value (GMV) of 408 million dollars and total revenue of 133 million dollars decreased 8 percent and 7 percent, respectively. During the quarter, the company’s consignment revenue grew 10 percent and direct revenue was 49 percent lower compared to the same period in...

The RealReal’s CFO to step down

Luxury resale platform The RealReal has announced that its chief financial officer, Robert Julian, will be stepping down from the role from either January 31, 2024, or when his successor assumes the position. If a new CFO is named ahead of January 31, Julian will continue to serve in an executive advisory position to the company through to that...

Business

The RealReal’s CFO to step down

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The RealReal to wind down beauty business amid streamlining efforts

The RealReal is winding down its beauty business to focus on its luxury consignment business amid an ongoing streamlining at the US resale giant. “We’re prioritizing our efforts on growing our luxury consignment business,” a spokesperson told WWD. “With that, we have been deemphasizing the direct side of our business, including our beauty...

Business

The RealReal to cut 7 percent of workforce

Luxury resale platform The RealReal is set to cut 7 percent of its staff in a bid to slash costs across the business. The move will impact around 230 employees at the company, a filing with the Securities and Exchange Commission stated. It comes as a U-turn to the firm’s previous strategy of bulking up its staff, a move it initiated last year in...

The RealReal names John Koryl CEO

Resale marketplace The RealReal has announced that John Koryl will be joining the company as chief executive officer and a member of its board of directors, effective February 6, 2023. Koryl will succeed the company’s current co-interim CEOs, Rati Sahi Levesque and Robert Julian, who will remain at The RealReal as president and chief operating...

Business

Vintage luxury and trendy designs lead the way at The RealReal

Resale marketplace The RealReal unveiled its latest Luxury Consignment Report for 2023, in which it has outlined its analysis for the state of resale over the last six months. Much of the report was dictated by the shifts in shopping behaviours due to macroeconomic uncertainty, demand for sustainability and generational differences. Speaking on...

Business

The RealReal outlines initiatives to strengthen consignment service

Luxury resale marketplace The RealReal has outlined a number of updates it will be implementing in the coming year in order to elevate its consignment service. The various additions and moves were part of projects started in Q4 2022, the company said, including its new consignor concierge service. In a release, Rati Sahi Levesque, co-CEO and...

Business

Resale platforms join in cutting Yeezy products amid backlash over Ye’s hate speech

A number of major resale platforms have joined in the growing backlash against Ye, the rapper formerly known as Kanye West, following his regular bouts of hate speech and controversial behaviour. The RealReal is among those that have denounced the rapper’s remarks against the Black and Jewish communities, with the platform stating it would no...