Poshmark is expanding its reach, as the company revealed that its services will soon be available to buyers and sellers in India. Image: Poshmark
FASHION RESALE
Poshmark Announces Continued Expansion With India Presence and New Leaders
Poshmark, Inc. will soon be available to consumers in India as the leading social marketplace continues to expand throughout the world.
Just having launched in Australia earlier this year and in Canada in May 2019, Poshmark, a marketplace for new and secondhand style for categories including women, men, kids, pets, and home, is bringing its business to the second-most populated country in the world. By the end of the current quarter, Indian consumers will be able to use Poshmark.
“Having roots deeply embedded in India, I am delighted to be bringing Poshmark to my home country,” founder and Chief Executive Officer of Poshmark Manish Chandra said. “India is an ideal fit for our unique social-commerce model, both from a cultural and business perspective—India thrives in togetherness, and the country's dynamic, youthful and inherently social culture aligns with the core value proposition of our company and community. At the same time, the market opportunity is massive and growing, as people increasingly turn to ecommerce while seeking a more socially connected and sustainable experience. We look forward to empowering Indians of all ages and backgrounds to join us in an entirely new way to shop."
Poshmark also announced its global expansion will be supported by two new leaders in Sylvie De Wever, who joins as Poshmark as the company’s first vice president and general manager of international and Anuradha Balasubramanian, general manager of Poshmark India. Poshmark said the two are “accomplished leaders who bring extensive experience in strategic international expansion and business operations.”
De Wever brings more than 20 years of experience in global scaling, e-commerce and international strategy. Prior to joining Poshmark, she was the chief operating officer of learning app Blinkist, led eBay expansion in emerging markets and was the general manager of eBay Latin America. Balasubramanian brings nearly 18 years of experience across the consumer, e-commerce and ed-tech sectors. She previously co-founded and launched a natural line of skin and hair care products in India in 2012 and brings a vast understanding of India's growing consumer market.
“We are thrilled to welcome Sylvie and Anuradha to our team and have them spearhead our move into India,” Chandra said. “This expansion is so important to me personally, and I could not be more pleased and honored to have these two on board. They will play a critical role in scaling Poshmark's social shopping community and redefining the future of shopping around the world.”
The Indian market is rapidly becoming eco-conscious with a growing base focused on sustainability and value-conscious consumers, especially Gen Z and Millennials. The new market has more than 622 million active internet users meaning there is a good possibility for huge growth.
