Rati Sahi Levesque: The RealReal Appoints Third CEO in Two Years

The RealReal, the world’s largest online marketplace for authenticated, resale luxury goods, today announced that its Board of Directors has appointed Rati Sahi Levesque, The RealReal’s President and Chief Operating Office (COO), as President and Chief Executive Officer (CEO), and as a member of the Board, effective immediately.

This comes less than two years after appointing John Koryl as the chief executive officer of the company. Rati Sahi Levesque helped found the Company in 2011 and was it first employer. In her tenure, she has held leadership roles across the organization, from sales and merchandising to marketing. She has been very instrumental is setting the Company’s strategy and positioning The RealReal as the leader in luxury resale.

The RealReal offered few details regarding the switch, but posted preliminary third-quarter results that beat the company’s own plans and prompted it to raise its guidance for the year. A filing with the Securities and Exchange Commission said the Company has reached a separation agreement with Koryl, which saw him terminated without cause.

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Koryl is leaving the position with a payment equal to one year’s worth of his base salary, which totaled to $619, 231 in 2023. Karen Katz, the former Neiman Marcus CEO who is chairperson on The RealReal’s board said, “We wish John well as he begins his next chapter and takes time to focus on his family.”

Koryl took over the CEO job from Julie Wainwright, who left the Company in June 2022. At the moment, all eyes are on Levesque. “Rati has been pivotal in formulating and executing the recent strategic shifts that have propelled the company on its path to profitability,” Katz said.

Ms. Levesque commented, “I am honored to lead The RealReal as its next CEO. 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.”

In the last couple of months, The RealReal has been showing some signs of forward motion. Revenues for the third quarter are set to come in at $147.8 million, ahead of the $135 million to $142 million forecast. Levesque said the “strong” third-quarter gave her “confidence in the momentum of our business.”As she takes over the company, good things are expected of her and experience!