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Today, we honor Dr. Martin Luther King Jr.’s legacy of justice and equality. His work reminds us that true change requires commitment and action. As we reflect on his impact, we’re inspired to continue advancing diversity, fostering respect, and driving meaningful change—both within The RealReal and in the broader communities where we operate.
Let's take a moment to celebrate our fearless leader, Rati Sahi Levesque, President and COO, for her remarkable journey! In a recent interview with ELLE Magazine, Rati delved into her inspiring career journey and vision for The RealReal's future. From her early days in fashion to leading innovation in luxury resale, her unwavering dedication and passion are evident at every turn. Her commitment to regeneration, authenticity, and empowerment for both customers and employees is truly commendable. As she drives growth and impact at The RealReal, her leadership is a constant inspiration. We eagerly anticipate the exciting developments ahead! Read more here: https://www.elle.com/fashion/a60353449/the-realreal-rati-sahi-levesque-career-interview/
Today, we are proud to announce that The RealReal has achieved positive adjusted EBITDA and positive free cash flow in Q4 2023, marking a first since our IPO. We also reported strong full-year 2023 financial results exceeding the mid-point of our guidance. We've made significant shifts across all aspects of our business; from refocusing on our core consignment business to overhauling our commission structure, to revamping our approach to sales and marketing. As we look ahead, we will continue to leverage our data to keep innovating, grow our core consign business and other supply channels such as drop-ship, remain focused on exceptional, luxury service for our customers, and continue to identify efficiencies through automation. Thank you to our TRR team for these incredible results.
So proud of The RealReal team and our Hola Employee Resource Group for their dedication to making a difference! Recently, our employees volunteered with LifeTown in Livingston, NJ, a fully inclusive and accessible center that provides recreational, therapeutic, and educational services to individuals with diverse abilities — embodying the spirit of compassion and community. Together, we're creating a brighter, sustainable, and more inclusive world!
Before we get too far into April, we want to shout out our Women's Employee Resource Group (ERG) who took the lead throughout March to honor the incredible contributions of women in shaping both The RealReal and the world. As part of our initiatives, we were honored to host a groundbreaking conversation that resonated across our organization and beyond. Our Women's ERG Co-Chair and Principal Product Manager, Devon Novotnak, had the privilege of sitting down with Karen Katz, The RealReal's esteemed Chairperson of the Board and former CEO of Neiman Marcus, for a company-wide fire-side chat for our employees. Together, they delved into topics crucial to our collective progress: leadership, career advancement, and the ongoing journey towards gender equity and inclusion. Karen's insights, stemming from her remarkable career at the helm of one of the most iconic names in retail, provided invaluable guidance and inspiration. Her perspectives on navigating challenges, seizing opportunities, staying humble, and fostering an inclusive culture were both enlightening and empowering. This conversation exemplified our commitment to fostering a diverse, equitable, and inclusive workplace where every voice is heard, valued, and empowered to thrive. Let's carry forward the momentum of these discussions and continue championing progress together.
Happy Earth Month to our community! 🌎 For us, Earth Month is every month. Sustainability is in our DNA — and if you sell and shop with us, it's in yours too. Resale is revolutionizing the way people shop, which means every item you sell with us has a real impact. We're proud to reaffirm our commitment to sustainability and environmental stewardship. At The RealReal, we believe in fashion that not only looks good but does good for the planet too. From our rigorous authentication process to our circular economy model, we're dedicated to reducing waste, promoting circularity, and redefining the future of fashion. Join us in our journey to champion sustainable fashion, and ignite inspiration for a more beautiful and sustainable world for future generations.
Following Dries Van Noten’s retirement announcement last week, we saw a 200% uptick in demand for the brand on our site! Our Manager of Women’s Fashion and New Initiatives, Rachel Glicksberg, chatted with Vogue Business explaining why exactly this happened - “this Dries-mania hints at a wider resale phenomenon: when a designer exits, interest surges. And with increased interest comes heightened value and price across the secondary resale market.”
Step into the world of Palm Beach luxury! We're excited to share our exclusive partnership with Apple TV +'s new series Palm Royale, bringing you a taste of vintage chic inspired by the glamour of Palm Beach in 1969. Teaming up with the renowned Alix Friedberg, Emmy-winning costume designer to the stars, including the stars of this show Kristin Wiig, Kaia Gerber, Laura Dern, Leslie Bibb, Allison Janney, and Ricky Martin, we've curated an edit of 600 clothing and accessories items that capture the essence of that colorful era. From vibrant pastels to tropical patterns, get ready to embrace the timeless elegance of Palm Royale with our shoppable collection available now, just in time for the show's premiere on March 20th!
Today, we're celebrating the incredible achievements of women worldwide, including our very own team of powerhouse, trailblazing women at TRR. As a women-founded and led company, The RealReal has stood as a beacon of female empowerment and gender inclusivity in fashion and tech since its founding. We're proud to champion gender equality, with a workforce made up of 66% women — 52% at the VP level, 70% women directors, and 62% are in management — all working toward our shared vision of a more inclusive, equitable, and sustainable future. Our mission extends beyond luxury resale; it's about creating opportunities for the next generation of female leaders, thinkers, and innovators, and making a positive impact on our planet. 🌎 Thank you to all the incredible women at TRR for the invaluable role you play in driving our success, shaping our culture, and leading innovation. Today and every day, let’s continue to break barriers and build a brighter, more inclusive future for all.
We are thrilled to welcome Ajay Gopal to our TRR Leadership team as Chief Financial Officer beginning in March, and a big congrats to current TRR board member, Karen Katz, for being appointed Chairperson of the Board. Here's to a successful journey ahead!
