Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Poshmark Announces Australia Expansion a Month After Its IPO

Poshmark app screenshots | Source: Poshmark

Poshmark is heading to Australia in the fashion marketplace operator’s first expansion since its January public offering.

The Redwood City, California-based company, which runs an online platform for selling second-hand apparel, currently is available only in the US and Canada. But Poshmark is looking for “long-term growth through international expansion” and will start with English-speaking countries, according to a statement.

Australia was chosen as Poshmark’s first market outside of North America because it has a well-established thrift-shop culture, high rates of e-commerce adoption and environmentally conscious consumers, chief executive officer Manish Chandra said in an interview.

Poshmark, which promotes its shopping as a way to form social ties, also wants to expand the merchandise categories that its users can buy and sell, and announced last week the addition of pet-related goods.

ADVERTISEMENT

The company says its platform consists of 70 million users, about 43 percent of whom are active users. Along with competitors like ThredUp and RealReal, Poshmark is growing quickly as consumers embrace new forms of e-commerce. Online marketplaces have gained popularity because they give shoppers access to premium brands for a discount. Use of secondhand apparel is also seen as more environmentally friendly, since the fabrication of new garments uses vast quantities of water and contaminates waterways.

Poshmark plans to launch in new countries “on a periodic basis,” Chandra said. “We believe that our platform has relevance in all of the major markets in the world.”

Poshmark shares were little changed in New York trading on Tuesday. The stock has gained about 86 percent since the company went public in January.

By Jordyn Holman and Henry Ren.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Technology
Analysis and advice on how technology is disrupting fashion and creating new opportunities.

Meeting Consumer Expectations Through Augmented Reality, In-Store and Online

Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024