The RealReal Continues Building a More Diverse and Inclusive Board
February 19 2021 - 11:55AM
Today, The RealReal (Nasdaq: REAL)—the world’s largest online
marketplace for authenticated, consigned luxury goods—announced
former Neiman Marcus Group CEO Karen Katz and Good American CEO and
Co-Founder and SKIMS Founding Partner Emma Grede have joined its
board of directors. These appointments are the latest advancements
in The RealReal’s ongoing work to create a board reflective of its
diverse community. Today, the company celebrates the milestone of
doubling representation since its IPO and having women comprise 60
percent of its board.
“Karen and Emma bring an incredible
depth of retail and fashion industry experience to the table, and
their insights into shifting consumer behaviors and the evolving
retail landscape are valuable additions to our board,” said Julie
Wainwright, CEO of The RealReal. “Among the 3,000 largest U.S.
publicly traded companies, one in 10 boards still have no women.
Diversity in the boardroom brings a broader cross-section of
experiences and perspectives, which is essential for innovation and
evolution. We have been intentional in our efforts to expand
diversity within our board, and we believe this further strengthens
our ability to capitalize on the significant opportunity ahead of
us.”
Katz brings more than 30 years of deep
luxury and retail experience having helmed Neiman Marcus Group and
served as its director. Among her accomplishments, Katz leveraged
Neiman Marcus’ brick-and-mortar presence (40+ Neiman Marcus stores,
Bergdorf Goodman in New York and the Last Call Off-Price division)
to launch its omnichannel strategy, integrating customers’ online
and in-store experiences through technology and personalization.
She also led the 2014 acquisition of luxury e-commerce retailer,
Mytheresa (January 2021 public offering), scaling its e-commerce
offerings to support Neiman Marcus’ omnichannel strategy. Katz also
currently serves on the Board of Directors at Under Armour, Casper
and Humana, and chairs StreetTrend.
“So much of the growth and innovation
happening in today’s retail landscape is centered around resale,
and it’s only the beginning,” said Karen Katz. “As a customer and
longtime fan of Julie and The RealReal, I am thrilled to be joining
its board of directors and look forward to being part of its next
stage of growth."
Grede lends valuable retail and brand
marketing experience, having founded both Good American—the first
fully size-inclusive fashion brand, which reached $1 million in
sales on its first day of release—and, before that, ITB Worldwide,
a talent management and marketing firm beloved by luxury brands
including Vivienne Westwood and Christian Dior. As a Black female
leader and innovator in inclusive fashion, Grede is a champion for
diverse and inclusive representation at all levels of internal and
external business operations, having built companies upon those
values. She is also a strong advocate for women’s rights, fighting
for education, equal pay and representation. Grede is an active
trustee and board member of Women for Women International and
Baby2Baby.
“The RealReal has been a true force
and innovator in resale for the fashion industry, and I’m proud to
see Julie champion diversity and female empowerment across the team
and the broader industry,” said Emma Grede. “Diversity and
inclusivity have always been of utmost importance to me and my work
and I’m thrilled to be joining The RealReal’s board of directors to
continue driving change in its next growth phase.”
Katz and Grede join Chairperson Julie
Wainwright and the rest of The RealReal’s existing board members:
Caretha Colemen, Principal of Coleman Consulting; Carol Melton, CEO
and Founder of Adeft Capital; Gilbert L. (Chip) Baird III,
Co-Founder and Partner of PWP Growth Equity; James R. Miller, Chief
Technology Officer of Wayfair; Michael A. Kumin, Managing Partner
of Great Hill Equity Partners; Niki Leondakis, President of The
Wolff Resident Experience Company; and Rob Krolik, General Partner
and Chief Financial Officer of Burst Capital.
In another milestone moment, the
company has also promoted former Chief Operating Officer Rati
Levesque to the role of President. As The RealReal’s first
employee, Levesque has been a critical part of building the
business since day one. Having led the company’s merchandising
team, then expanded her focus to include operations, she has a deep
understanding of the business from every perspective. The
RealReal’s Chief Revenue Officer will now report to Levesque,
allowing the company to more tightly couple consignor servicing
with its brick-and-mortar rollout—an important element in its work
to provide a unified, cross-channel consignor experience.
“Rati has been an integral part of The
RealReal’s success since the very beginning,” continued Wainwright.
“Her clear vision and strategic leadership are powerful assets that
will be tremendously valuable as we enter our next phase of
growth.”
About The RealReal,
Inc.The RealReal is the world’s largest online marketplace
for authenticated, resale luxury goods, with more than 20 million
members. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have hundreds of
in-house gemologists, horologists and brand authenticators who
inspect thousands of items each day. As a sustainable company, we
give new life to pieces by thousands of brands across numerous
categories—including women's and men's fashion, fine jewelry and
watches, art and home—in support of the circular economy. We make
selling effortless with free virtual appointments, in-home pickup,
drop-off and direct shipping. We do all of the work for consignors,
including authenticating, using AI and machine learning to
determine optimal pricing, photographing and listing their items,
as well as handling shipping and customer service. At our 13 retail
locations, including our eight shoppable stores, customers can
sell, meet with our experts and receive free valuations.
Press Contact:Christine
Heerwagenpr@therealreal.com
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