Luxury consignment marketplace The RealReal will stop selling beauty products.
The company is slashing unprofitable segments as it works to reduce losses.
The RealReal faces the risk of bankruptcy after struggling to remain profitable for several years.
- The company has reduced expenses and jettisoned unprofitable areas under its new CEO John Koryl.
- The RealReal shut four stores and two consignment offices and reduced its staff by 7% in February.
- As The RealReal cuts costs, it is also continuing to gain customers, adding 25% YoY in Q4.
