Poshmark Inc. is now moving towards Australia!
The American fashion marketplace made this announcement – its first major move ever since its last month’s IPO – in its efforts to expand its online marketplace across the globe.
Also Read: Poshmark files for IPO; secondhand clothing retailer makes profit during pandemic
The retailer, known for selling secondhand apparels, is at present available in the US and Canada.
Poshmark is, reportedly, eyeing English speaking nations first to drive its growth strategy through global expansion, and venturing into Australia is the first step in this direction.
Corroborating on this further, Manish Chandra, CEO, Poshmark, said that the online marketplace chose the country for its high rates of e-commerce adoption in addition to having environment-friendly consumers.
He also added that Australia has an established thrift-shop culture, which makes it the right market to explore first outside North America.
Going forward, Poshmark plans to get into other countries as well and more on this Manish said that the online marketplace has relevance in all major markets across the globe.
The company’s platform, notably, has 70 million users, of which 43 per cent are active users. Manish had found Poshmark a decade back and today it is one of the fastest growing e-commerce marketplaces in the world.
