Latest news with #JohnKoryl
Yahoo
10-05-2025
- Business
- Yahoo
RealReal CEO Salary: Rati Levesque's Pay Rises to $11.5M
Rati Levesque was welcomed into the corner office at RealReal Inc. with stock awards valued at $10 million, which made up the bulk of her pay last year. Levesque, the resale platform's first employee, was president and chief operating officer until October, when she took over the role of chief executive officer after the departure of John Koryl. More from WWD How CEO Rati Levesque Is Rebuilding at The RealReal The RealReal Hits Financial Milestone With Adjusted EBITDA for 2024 Resale and Rental Show Signs of Life Headed Into 2025 Her compensation last year also included a salary of $540,385, bonus and incentive pay totalling $947,167. CEOs of public companies often see the bulk of their compensation coming from stock awards, which link the executive's own pocketbook with the fortunes of investors. Levesque has had a taste of the top job before, serving as co-interim CEO after founder Julie Wainwright abruptly left the business in 2022. But she took the job for real just as the company hit a financial milestone, logging adjusted earnings before interest, taxes, depreciation and amortization of $9 million last year. That touch of profitability came after the company increased the amount it charges for each sale, cut out items valued for less than $100, moved to a consignment model and eliminated unprofitable categories. 'We just went back to our core of fashion buying jewelry, watches, handbags, ready-to-wear, shoes,' Levesque told WWD in February. 'The P&L is different. The flow-through from revenue to adjusted EBITDA now is much healthier. Now we got back to growth.' The trick now is going to be to keep up that growth. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
15-02-2025
- Business
- Yahoo
Meta Hires Former RealReal CEO to Help Sell Its Smart Glasses
(Bloomberg) -- Meta Platforms Inc. has hired the former chief executive officer of luxury goods marketplace The RealReal Inc. to boost its retail sales channels for Quest headsets, smart glasses and other artificial intelligence wearables. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says John Koryl is joining the social networking giant as vice president of retail, reporting to Chief Technology Officer Andrew Bosworth, the company said Friday in a memo to employees. 'It's no secret that products like Quest, Ray-Ban Meta, and AI wearables require a different kind of customer experience beyond the standard retail offerings,' Bosworth said in the memo. 'We see an opportunity to build more direct expertise in the space and then share what we have learned with all of our retail partners who will continue to drive the bulk of our sales volume.' A Meta spokesperson declined to comment. As the Menlo Park, California-based owner of Facebook and Instagram invests heavily in AI-enabled hardware, it has sought to create compelling retail spaces to promote and sell its products. Last year, for example, it introduced Meta Lab, an in-person space where consumers could try out and purchase its Ray-Ban smart glasses, which evolved into a Los Angeles-based storefront. Meta said at the time that it had dedicated more than 50 employees to test new engaging retail experiences to promote the products. 'I want people to come away from Meta Lab feeling like, 'Wow, these guys are serious about this,'' Matt Jacobson, the company's creative director for augmented reality, said in November. 'We can't scale a hundred of these, but we can build a few of them at locations around the country, and then fill in if we decide we want to do more first-party retail.' Koryl's hiring signals that Meta will continue to invest in the retail experience. The e-commerce, marketing and retail executive took the helm of The RealReal, an online marketplace for luxury fashion, in February 2023 and served in the post through October 2024. Before that, Koryl worked at companies including Neiman Marcus Group LLC, Williams-Sonoma Inc. and eBay Inc. Meta, which has spent tens of billions of dollars on its Reality Labs devices unit since 2019, is seeking to ramp up sales. Chief Executive Officer Mark Zuckerberg signaled to investors late last month that he remains bullish on the business opportunities posed by augmented and virtual reality. Bloomberg News reported in January that Reality Labs is continuing to developing a fleet of futuristic products, including Oakley-branded smart glasses for athletes, watches and camera-equipped earbuds. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate Japan Perfected 7-Eleven. Why Can't the US Get It Right? The NBA Has Fallen Into an Efficiency Trap Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
14-02-2025
- Business
- Bloomberg
Meta Hires Former RealReal CEO to Help Sell Its Smart Glasses
Meta Platforms Inc. has hired the former chief executive officer of luxury goods marketplace The RealReal Inc. to boost its retail sales channels for Quest headsets, smart glasses and other artificial intelligence wearables. John Koryl is joining the social networking giant as vice president of retail, reporting to Chief Technology Officer Andrew Bosworth, the company said Friday in a memo to employees.
