Levesque Has Held Leadership Roles with the Resale Company Since Its Founding in 2011
Online luxury resale marketplace The RealReal has announced a major leadership change. Rati Sahi Levesque, a founding member of the company, has been appointed CEO, replacing John Koryl, who has left the company and the board. Levesque, who retains her role as president, has been with The RealReal since its inception in 2011 and has held multiple leadership positions across sales, merchandising, operations, and marketing.
Karen Katz, chairperson of The RealReal’s board, expressed confidence in Levesque’s leadership, stating, “Rati has been pivotal in formulating and executing the recent strategic shifts that have propelled the company on its path to profitability.” Katz added, “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.”
Levesque steps into the CEO role at a time when the company is showing positive financial momentum. The RealReal’s preliminary third-quarter results exceeded expectations, with total revenue reaching $147.8 million, up from the projected $135-142 million. Adjusted EBITDA also outperformed forecasts, coming in at $2.3 million. The company has raised its full-year revenue guidance, now expected to be between $595 million and $602 million.
In a statement, Levesque commented, “The luxury resale market is vibrant and growing, and there is a significant opportunity to leverage our powerful brand and our valued community of consignors and buyers to enhance the client experience and accelerate profitable growth. I am a passionate believer in our vision to fuel a more sustainable and circular fashion industry.”
As The RealReal prepares to release its full third-quarter financial results on November 4, 2024, Levesque’s leadership is expected to play a crucial role in driving further growth and solidifying the company’s position as a leader in the luxury resale market.