REDWOOD CITY, Calif., July 21, 2016 /PRNewswire/ -- Today, Poshmark, the largest community marketplace for fashion where anyone can buy, sell and share their personal style, announces its expansion into two new categories: kids and men's. Through its innovative approach to combine social and commerce to scale discovery, Poshmark has grown six fold in less than two years. The marketplace's vibrant network of seller stylists curate over 100 million items a month, sharing their unique sense of style which will now also facilitate shoppers' discovery of kids and men's fashion. Poshmark has empowered anyone to open their closet for sale and also create their own boutique stocked with new, in-season merchandise - all in one seamless mobile platform.
As department stores are unable to keep up with consumer's shopping habits and e-commerce moves away from static experiences and more towards social discovery, Poshmark's rapid adoption across all demographics showcases a clear shift towards social commerce - with the equivalent of a Nordstrom's store worth of inventory uploaded to the marketplace every few days. Because of the dynamic shopping experience that is created when combining human curation features with data-driven personalization, Poshmark is able to satisfy each individual's style preferences, whether they want to see only women's, children's or men's items, or shop a mixture of all three different categories at once.
Shoppers can now select "My Shopping Interests" under their preferences to personalize their experience on the app. Parents can quickly list and sell their children's clothes as they outgrow them, opening up a revolving budget to buy new items that fit. In addition, men, and the ladies who love them, will benefit from Poshmark's powerful social merchandising engine to help them discover and shop new brands and styles - everything from limited edition sneakers to emerging independent designers.
Over the last four years, Poshmark has developed its end-to-end social commerce platform to enable anyone to be successful selling their style - from a robust backend logistics platform to marketing tools for sellers to an innovative in-app Wholesale Marketplace where brands have direct access to distribute their merchandise through Poshmark's powerful social selling network. Expanding to include kids and men's categories further builds on this foundation, creating a 360-degree fashion platform for the entire family, unlike anything currently available in the retail landscape.
"We built Poshmark with a single vision: to become a place where anyone can buy and sell fashion in a simple and fun way. As a result, we are the largest social commerce marketplace in the U.S. that continues to innovate in both resale and retail fashion markets," said Manish Chandra, founder and CEO of Poshmark. "By expanding into new categories, we are empowering our community to now buy and sell fashion for everyone in their life, with our same core principle of creating a platform powered by love that makes it possible for anyone to participate in the fashion economy."
Bringing back much of the personal connection that was sacrificed in the evolution of e-commerce, Poshmark's infinitely scalable marketplace re-creates the magic of shopping offline, empowering anyone to be a producer, a consumer and - the third and most important role in the equation - a curator. These Poshmark "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 for buyers and more sales for sellers. Four million items are curated by Poshmark "Stylists" every day, with a sale made every two seconds. The result is an addictive community-driven shopping experience where users spend an average of 25 minutes per day on the app, opening it 7 to 8 times daily.
For fashion brands interested in getting access to the Poshmark Wholesale Marketplace, contact [email protected]. For more information about Poshmark, please visit www.poshmark.com and to download the Poshmark app for iOS and Android, visit the App Store or Google Play.
Founded in 2011, Poshmark is the largest social commerce marketplace for fashion where anyone can buy, sell and share their personal style. With millions of shoppers and over 1.5 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 three million dollars worth of inventory into the marketplace every day - right from their phone. Poshmark has raised over $70 million in funding from Mayfield, Menlo Ventures, GGV Capital, Inventus Capital, SoftTech VC, Union Grove Venture Partners, Shea Ventures and AngelList. The company was also named a top retail brand to watch and one of the top three shopping apps for college students in Goldman Sachs' 2016 dotCommerce Report.
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