Social commerce leader reimagines the retail industry with its new wholesale portal, proves to be a powerful new sales and distribution channel for fashion brands to reach today's mobile shopper
REDWOOD CITY, Calif., Feb. 11, 2016 /PRNewswire/ -- Today Poshmark, the largest community marketplace for fashion where anyone can buy, sell and share their personal style, is introducing Boutiques, a new section featuring a curated selection of diverse boutiques stocking brand new merchandise from emerging and independent fashion brands. This new offering comes as a result of Poshmark's recent expansion to retail, creating a wholesale portal to connect brands directly with the platform's powerful and highly engaged network of 1.3 million influential social sellers. Given a shaky retail climate, Poshmark sellers who use their social influence to drive sales, are providing brands with an entirely new marketing and distribution channel to connect with today's mobile consumer. Since launch, Poshmark has partnered with over 50 fashion brands to stock its wholesale portal with new, in-season merchandise.
With millions of shoppers and a sale made every 5 seconds, Poshmark continues to feed its community's appetite for new merchandise, connecting them to emerging and independent fashion brands through its wholesale portal where qualified sellers can purchase inventory to stock their mobile boutiques. The recently launched wholesale portal is revitalizing the retail industry, giving fashion brands the opportunity to tap into a mobile shopping audience spending 25 minutes per day in the app and opening it 7-8 times daily. The results have been outstanding: within the first three hours of the portal launch, Poshmark completely sold out of wholesale inventory, stocking brands in over 1,000 boutiques in just 30 days. This level of retail placement would take months, if not years, through traditional industry methods. By connecting brands to this next generation of retailers, Poshmark is helping fashion companies access the platform's community of millions, introduce their line to a new demographic, and expand their current distribution strategy.
"Poshmark is changing the industry landscape for independent fashion brands," said Tiffany Ishiguro, co-founder of t+j Designs. "We went from an unknown brand on the marketplace to trending in just 30 days. Poshmark's social sellers have distributed our products all across the country, proving to be a highly effective channel to get in front of millions of shoppers, especially the hard to reach millennial."
To further expand the discovery of new retail merchandise on the platform, Poshmark is introducing Boutiques, a new shopping experience to help buyers not only discover brands, but also find other like-minded women to shop from based on their social connections. Much like a physical boutique, Poshmark sellers mix and match well-known designers with more indie brands and use their personal style to help introduce customers to new products that they might like. Shoppers can now browse a curated selection of popular boutiques that carry new merchandise, personalizing by brand, location, and size to create a more relevant and seamless product discovery experience. Boutiques also offer a new level of visibility for fashion brands who partner with Poshmark's network of social sellers.
At a time when fashion consumption is evolving and consumers are becoming increasingly hard to reach, Poshmark has continued to grow because of its laser sharp focus on community to create an ever-changing, addictive shopping experience. This growth signals the power of Poshmark's vibrant community of millions of women helping each other discover new items - which sets it apart from any other player in the retail industry. These "Stylists" create a unique social merchandising engine - when they curate the best items to their followers, they help match supply and demand, leading to better discovery of over 12 million items for buyers and an increase in sales for sellers. This key interaction has made Poshmark an impressively scalable marketplace, growing over 3x in 2015.
"Unlike traditional marketplaces, Poshmark helps shoppers discover new products and brands through a deeply engaged community of sellers who also act as stylists for their customers," said Manish Chandra, founder and CEO of Poshmark. "Because we prioritized social connections above all else, we have built a massive fashion platform that now has the capacity to change how brands connect with consumers. By partnering with our unique social selling network, brands can now market and distribute their products to millions of shoppers in an instant. In the similar way that Facebook and YouTube revolutionized social content creation and consumption, we are creating a multi-faceted platform that has the capacity to do the same thing to the fashion industry."
For fashion brands interested in getting access to the Poshmark wholesale portal, contact [email protected]. Visit Poshmark at www.poshmark.com and download the app for iOS and Android, visit theApp Store or Google Play.
About Poshmark
Founded in 2011, Poshmark is the largest community marketplace for fashion where anyone can buy, sell and share their personal style. With millions of shoppers and over one million sellers, Poshmark brings together a vibrant community everyday to express themselves and share their love of fashion. The company has made it so simple to sell your style that the Poshmark community uploads over two million dollars worth of inventory into the marketplace every day - right from their phones. Poshmark recently raised a $25 million Series C funding round led by Mayfield, Menlo Ventures, Inventus Capital, Union Grove Venture Partners, Shea Ventures, and SoftTech VC. For more information, please visit www.poshmark.com.
For more information, please contact:
Joanna Riedl
[email protected]
(818) 523-3528
Photo - http://photos.prnewswire.com/prnh/20160210/332077
SOURCE Poshmark
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