The RealReal news and archive

The RealReal welcomes Q3 revenue uptick, losses narrow

Luxury resale marketplace The RealReal has reported a revenue increase of 11 percent for the third quarter of ended September 30, 2024, while the company’s gross merchandise value (GMV) was up 6 percent. During the quarter, consignment revenue rose 14 percent compared to the same period in 2023, while its adjusted EBITDA amounted to 2.3 million...

People

The RealReal appoints new CEO, ups FY24 profit guidance

Luxury resale platform The RealReal has announced the appointment of Rati Sahi Levesque as its new president and chief executive officer, effective immediately. Levesque currently serves as president and chief operating officer at the company, but will now succeed John Koryl, who has departed and no longer serves on The RealReal’s board....

Fashion Featured

The RealReal Luxury Resale Report 2024: Grassroots, sustainability and bling

Luxury resale marketplace The RealReal released its seventh annual “Luxury Resale Report” on Wednesday, which analyses the shopping and consignment behaviours of the company’s more than 37 million members. It also spotlights the key trends currently shaping demand and resale value for the most sought-after luxury brands and items - dominated by...

Business

The RealReal welcomes Q2 revenue jump as losses narrow

Luxury resale marketplace The RealReal saw an 11 percent total revenue jump for the second quarter ended June 30, 2024, during which the platform further welcomed a growth of 17 percent in consignment revenue compared to the same period in the previous year. Chief executive of the company, John Koryl, said the uptick came as The RealReal...

Business

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...

Business|Interview Featured

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...

Business

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...

The RealReal’s CFO to step down

BusinessFeatured

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...