The RealReal Appoints New CFO As Growth Continues

SAN FRANCISCO, April 23, 2013 /PRNewswire/ -- The RealReal, the leader in online luxury consignment, announced today the appointment of Matthew Gustke to its leadership team. Matthew will serve as Chief Financial Officer overseeing corporate finance, accounting, analytics and human resources. 

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This hire comes as The RealReal continues its expansion.  The company's revenue has grown tenfold in the last year by offering a superior experience for both customers and consignors. With over 750,000 members, The RealReal receives over 1.5 million visits per month.  Just this month, The RealReal raised a series B funding round of $14 million to expand its lead in reselling and authenticating luxury goods.

"Matthew's demonstrated experience is deeply relevant to The RealReal as we strengthen the management team to match the phenomenal growth of our business," said Julie Wainwright, Founder and CEO.

Gustke joins The RealReal from StubHub, an eBay company, where he was CFO and head of strategy. While at StubHub, the company achieved record high customer satisfaction and experienced accelerated growth for three consecutive years. Prior to StubHub, he spent 9 years at eBay in a variety of roles including investor relations, international finance and CFO for eBay SENE markets.

"It's a massive market opportunity that The RealReal has and the company is emerging as a leader in the space as a result of focusing obsessively on its customers," said Matthew Gustke, Chief Financial Officer.  "I am excited to join the great team here to continue developing our strategy and business operations to take advantage of that opportunity and help change the way people buy and sell luxury items."

Matthew holds a degree in Finance and Entrepreneurial Management from the Wharton School at the University of Pennsylvania.

ABOUT THE REALREAL

The RealReal is changing the way people buy and sell luxury items. The leader in luxury resale, the company is a full service retailer offering customers authenticated, pre-owned, designer brands including Chanel, Hermes, Louis Vuitton, Gucci and Cartier, all at up to 90% off original retail. The RealReal takes possession of all items prior to sale in order for its merchandising team, authentication specialists and skilled gemologists to evaluate each item. The company also offers buyers merchandise returns, with an in-house customer service team available to answer specific product questions.

Consignors in major US cities can schedule a free pick-up or use the company's direct service through its iPhone consignment app or online form. Consignors make up to 70% of the selling price.

SOURCE The RealReal



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