Once a pandemic-era symbol of digital disruption, Carvana faced a near-total collapse in 2022 as rising interest rates and weakening demand sent its stock down 99%. According to Christina Keiser, executive vice president of strategy, the crisis forced the company to abandon its multi-front expansion in favor of "ruthless focus." By narrowing priorities and grounding its strategy in customer feedback, the leadership team transitioned from rapid growth to intense operational discipline, betting on the core value of its online buying experience.
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Source · Fortune
