Luxury resale platform The RealReal announced on Wednesday the appointment of John E. Koryl as its chief executive officer and as a member of its board of directors, effective February 6, 2023.
In this role, Koryl will be responsible for streamlining the company’s operations to improve overall client experience, achieve cost savings, and lead the company to profitability.
Koryl joins The RealReal from the Canadian Tire Corporation, where he most recently served as president of digital. Previously, he led the digital strategy team as the company’s senior vice president, retail strategy and performance. Prior to joining Canadian Tire, Koryl helped modernize Neiman Marcus’ omnichannel experience as president, stores and online, and president, Neiman Marcus direct.
“We are excited to have John join The RealReal at this important point in the company’s evolution,” said Rob Krolik, The RealReal’s lead independent director.
“He has extensive experience as an e-commerce and omnichannel executive driving operational excellence and profitability. This experience, combined with his proven track record of successfully developing and growing online businesses, make him the right person to lead The RealReal.”
The news follows the departure of founder Julie Wainwright from the CEO role and the company’s board, back in June 2022. At that time, the board appointed Rati Sahi Levesque, the company’s president and chief operating officer, and Robert Julian, the company’s chief financial officer, as co-interim chief executive officers.
Levesque will now continue as president and chief operating officer leading the company’s operational strategies, and Julian will continue as chief financial officer leading the company’s profitability initiatives.
“I’m thrilled to be joining The RealReal at such a pivotal time for the brand,” said Koryl. “As the leader in luxury resale and as the pioneer in transforming the consignment experience, The RealReal has significant opportunity to capture even more market share in the quickly evolving and fast-growing resale industry. I look forward to working with this innovative, cutting-edge team to continue growing the circular economy and driving efficiencies to fast track profitability.”
Earlier this year, The RealReal announced plans to double-down in 2023 on its efforts to enhance the luxury consignment experience it offers to its millions of members. In particular, the New York-based company said it is focusing on a new consignor concierge service, an enhanced loyalty program, as well as an improved data insights center offering.
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