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Poshmark, Inc. Announces India Growth as Component of a Continued Aim on New Current market Alternatives

REDWOOD Metropolis, Calif., Aug. 2, 2021 /PRNewswire/ — Poshmark, Inc. (Nasdaq: POSH), a main social marketplace for new and secondhand fashion for women of all ages, gentlemen, youngsters, pets, residence and additional, these days declared options to bring its basic, social, and sustainable browsing expertise to India, the 2nd most populous state and one of the swiftest-developing ecommerce marketplaces in the entire world. By the stop of this quarter, buyers in India will be equipped to be a part of Poshmark’s thriving group of hundreds of thousands of users in the U.S., Canada and Australia to make income, conserve dollars, come across human connection, and gasoline entrepreneurship.

The Indian industry has around 622 million lively web buyers1 and a promptly increasing base of sustainability- and benefit-aware buyers, specifically Gen Z and Millennials. The introduction of Poshmark — an arranged, harmless, and technologically sophisticated market — will present an interesting featuring to this numerous community of buyers and sellers.

“Owning roots deeply embedded in India, I am delighted to be bringing Poshmark to my residence nation,” mentioned Manish Chandra, founder and CEO of Poshmark. “India is an suitable match for our special social commerce design, the two from a cultural and enterprise viewpoint — India thrives in togetherness, and the country’s dynamic, youthful and inherently social culture aligns with the core worth proposition of our corporation and neighborhood. At the similar time, the market place option is enormous and expanding, as folks significantly transform to ecommerce even though trying to find a extra socially related and sustainable experience. We glance forward to empowering Indians of all ages and backgrounds to sign up for us in an fully new way to shop.”

Currently the corporation also introduced the appointment of two new leaders to aid its international expansion: Ms. Sylvie De Wever, who joins as Poshmark’s 1st Vice President and Typical Manager of Global, and Ms. Anuradha Balasubramanian, General Manager of Poshmark India. Both are attained leaders who bring substantial expertise in strategic worldwide expansion and enterprise functions.

With much more than 20 decades of encounter foremost and scaling world companies and operations about the globe, De Wever provides deep experience in ecommerce, international strategy and expansion to Poshmark. Prior to joining Poshmark, she was the Main Working Officer of Berlin-centered studying application Blinkist, led eBay growth in emerging markets, and was the General Manager of eBay Latin America. Likewise, Balasubramanian has almost 18 many years of management knowledge across the shopper, ecommerce and ed-tech sectors, where by she has aided develop diverse, ground breaking programs to travel progress. In 2012, she co-started and released a organic line of pores and skin and hair care products in India and brings a huge knowledge of India’s growing buyer marketplace to Poshmark.&#13

“We are thrilled to welcome Sylvie and Anuradha to our team and have them spearhead our move into India,” mentioned Chandra. “This enlargement is so critical to me personally, and I could not be additional happy and honored to have these two on board. They will participate in a essential part in scaling Poshmark’s social browsing group and redefining the long run of purchasing close to the entire world.”

Intercontinental growth continues to be a person of Poshmark’s most important growth tactics, and the organization will carry on to make investments in the adoption and localization of its exclusive marketplace to serve supplemental markets in the long term. Most recently, Poshmark released in Australia in February 2021, extending its group and design further than North The united states. In May 2019, the business launched in Canada, wherever its local community has grown to more than 2.5 million Canadians who have listed half a billion bucks worth of inventory.

For extra information and facts, remember to stop by www.poshmark.in and Poshmark India’s Instagram.

About Poshmark, Inc.    
Poshmark is a primary social market for new and secondhand design and style for females, adult males, young ones, animals, property and more. By combining the human relationship of actual physical procuring with the scale, relieve, and selection advantages of ecommerce, Poshmark makes acquiring and advertising basic, social, and sustainable. Its community of much more than 80 million registered end users throughout the U.S., Canada, Australia, and shortly India, is driving the foreseeable future of commerce when advertising and marketing far more sustainable intake. For much more facts, remember to check out www.poshmark.com, and for enterprise information and announcements, remember to visit buyers.poshmark.com. You can also find Poshmark on Instagram, Fb, Twitter, TikTok, Pinterest, YouTube, and Snapchat.

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