Poshmark news and archive

South Korea's Naver to buy US e-commerce site Poshmark

South Korean internet giant Naver is buying Poshmark, a US online marketplace for used clothing, for roughly 1.2 billion dollars, the companies said Tuesday. The deal -- worth about 1.6 billion dollars in total when Poshmark's cash holdings are included, according to Naver -- is expected to close by the first quarter of 2023, the firms said....

Podcast

Podcast: Fashion is your Business interviews Manish Chandra and Tracy Sun of Poshmark

In this episode, Fashion is your Business has interviewed Manish Chandra and Tracy Sun of Poshmark, an online marketplace for women's fashion. Listen to the podcast below. Source: Fashion is your Business via OmnyStudio

People

Poshmark appoints first chief people officer

Fashion marketplace Poshmark, which launched its IPO at the beginning of the year, has named William Ingham as its first chief people officer. In the new position, Ingham will lead all aspects of the company’s global human resources function, including talent acquisition and retention, rewards and recognition, performance management,...

Business

Poshmark announces pricing of IPO

Fashion marketplace Poshmark has revealed the pricing of its IPO. The company said it plans to sell 6.6 million shares of its Class A common stock at 42 dollars apiece. The company is expected to be listed on the Nasdaq Global Select Market on 14 January under the ticker symbol ‘POSH’. It comes after German luxury fashion e-tailer Mytheresa...

Business

Poshmark files registration statement for IPO proposal

Poshmark announced that it has filed a registration statement with the SEC to propose an initial public offering of shares of its Class A common stock. The company was first reported to be mulling an IPO in September. The clothing resale marketplace has applied to list its stock on the Nasdaq Global Select Market under the ticker symbol "POSH."...

Business

Poshmark reportedly files to go public

Poshmark, the resale platform for secondhand clothing that has been seeing impressive revenue, has reportedly filed to go public. The news was reported by Bloomberg. The number of shares and IPO price have yet to be determined. Poshmark had been holding off an IPO to focus on boosting sales and other ways to improve sales performance. Poshmark...

RetailFeatured

Resale value becomes increasingly important to consumers, new report finds

Consumers consider the resale value of items when they shop. According to Poshmark's recent social shopping report, "2020: The Year of Social Shopping," 76 percent of the platform's users think about an item's resale value before purchasing. Drawing on insights from over 8,000 shoppers surveyed across the U.S. and Canada, the report determined...

People

Poshmark appoints Serena Williams to board

Peer-to-peer second hand e-tailer Poshmark has appointed tennis champion and fashion designer, Serena Williams to its board of director. In a statement, Poshmark stated that Williams was a “natural fit” to join its board as the company continues to scale its social commerce platform as the tennis star has been an “advisor and investor in...

People

Poshmark appoints first chief marketing officer

Peer-to-peer second hand e-tailer Poshmark has appointed Steven Tristan Young as its first chief marketing officer, as it continues to expand its executive leadership team to assist with its accelerated growth. Young, a marketing leader and brand strategist for high-growth startups and Fortune 500 companies, has been tasked to lead growth,...

Business |ANALYSIS Featured

Online clothing and accessories re-sale attracts financiers’ attention

New York – Consumers’ habits have changed dramatically since the economic recession hit a decade ago. Online shopping has become the new normal, while more and more consumers turn into savvy thrifters. The result? Second-hand apparel sales are estimated to surpass 40 billion dollars by 2022. Consumers have increasingly turned to second-hand...

BusinessFeatured

Online fashion upcycling retailer Poshmark raises 87.5 million from Temasek

Poshmark has raised 87.5 million dollars in a funding round led by Singapore's state investor Temasek Holdings. The online fashion startup will use this investment for overseas expansion in Europe and Asia. It’s worth highlighting that this is the company's largest investment to date and pushes its total financing to nearly 160 million dollars....