Edouard Gouin (Convelio): Building through the hardest years to reach profitability

Convelio’s most difficult period forced some of its most consequential decisions. After the art market contracted sharply, the company reduced its team, changed its business model and shifted its focus from top-line growth towards profitability. Host Andreas Munk Holm speaks with Edouard Gouin, CEO and Co-Founder of Convelio, about navigating that period and the decisions that ultimately helped the company reach its first fully profitable quarter. Edouard discusses the cost of delaying layoffs, bringing investors behind a new strategy, rebuilding trust and moving from a largely asset-light model towards physical operations, storage and software. He also shares the thinking behind the 65-page leadership manual he wrote during this period, the principles it codified around hiring, management and honest feedback and how Convelio is using AI to automate operational work. Highlights Moving from growth towards profitability Making difficult decisions before circumstances force them Aligning investors around a new strategy Rebuilding trust after layoffs Moving beyond a purely asset-light model Writing a 65-page leadership manual Hiring for strengths and giving honest feedback Using AI to automate operational work Reaching Convelio’s first fully profitable quarter Timestamps (00:00) Intro (02:00) How Convelio started (08:00) Copycats and the art market downturn (14:00) Looking inward and shifting to profitability (17:00) Layoffs and the cost of delaying difficult decisions (21:00) Aligning investors and the board (28:00) Rebuilding trust after layoffs (31:00) From asset-light to physical operations, storage and software (39:00) Writing a 65-page leadership manual (42:00) Hiring for strengths (45:00) Mistakes, sloppiness and honest feedback (53:00) Using AI to transform operations (1:01:00) Hard decisions, easy life and reaching profitability