REDWOOD CITY, Calif.,
Aug. 2, 2021 /PRNewswire/
-- Poshmark, Inc. (Nasdaq: POSH), a leading social marketplace
for new and secondhand style for women, men, kids, pets, home and
more, today announced plans to bring its simple, social, and
sustainable shopping experience to India, the second most populous country and
one of the fastest-growing ecommerce markets in the world. By the
end of this quarter, consumers in India will be able to join Poshmark's thriving
community of millions of users in the U.S., Canada and Australia to make money, save money, find
human connection, and fuel entrepreneurship.
The Indian market has over 622 million active internet
users1 and a rapidly growing base of sustainability- and
value-conscious consumers, particularly Gen Z and Millennials. The
introduction of Poshmark — an organized, safe, and technologically
advanced marketplace — will present an attractive offering to this
diverse community of shoppers and sellers.
"Having roots deeply embedded in India, I am delighted to be bringing Poshmark
to my home country," said Manish
Chandra, founder and CEO of Poshmark. "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."
Today the company also announced the appointment of two new
leaders to support its global expansion: Ms. Sylvie De Wever, who joins as Poshmark's first
Vice President and General Manager of International, and Ms.
Anuradha Balasubramanian, General
Manager of Poshmark India. Both are accomplished leaders who bring
extensive experience in strategic international expansion and
business operations.
With more than 20 years of experience leading and scaling global
businesses and operations around the world, De Wever brings deep
expertise in ecommerce, international strategy and expansion to
Poshmark. Prior to joining Poshmark, she was the Chief Operating
Officer of Berlin-based learning
app Blinkist, led eBay expansion in emerging markets, and was the
General Manager of eBay Latin
America. Similarly, Balasubramanian has nearly 18 years of
leadership experience across the consumer, ecommerce and ed-tech
sectors, where she has helped build diverse, innovative programs to
drive growth. In 2012, she co-founded and launched a natural line
of skin and hair care products in India and brings a vast understanding of
India's growing consumer market to
Poshmark.
"We are thrilled to welcome Sylvie and Anuradha to our team and
have them spearhead our move into India," said Chandra. "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."
International expansion remains one of Poshmark's primary growth
strategies, and the company will continue to invest in the adoption
and localization of its unique marketplace to serve additional
markets in the future. Most recently, Poshmark launched in
Australia in February 2021, extending its community and model
beyond North America. In
May 2019, the company launched in
Canada, where its community has
grown to over 2.5 million Canadians who have listed half a billion
dollars worth of inventory.
For more information, please visit www.poshmark.in and Poshmark
India's Instagram.
About Poshmark, Inc.
Poshmark
is a leading social marketplace for new and secondhand style for
women, men, kids, pets, home and more. By combining the human
connection of physical shopping with the scale, ease, and selection
benefits of ecommerce, Poshmark makes buying and selling simple,
social, and sustainable. Its community of more than 80 million
registered users across the U.S., Canada, Australia, and soon India, is driving the future of commerce while
promoting more sustainable consumption. For more information,
please visit www.poshmark.com, and for company news and
announcements, please visit investors.poshmark.com. You can also
find Poshmark on Instagram, Facebook, Twitter, TikTok, Pinterest,
YouTube, and Snapchat.
Media Contact
pr@poshmark.com
Investor Contact
ir@poshmark.com
1 http://www.ecoti.in/glAhaY47
View original
content:https://www.prnewswire.com/news-releases/poshmark-inc-announces-india-expansion-as-part-of-a-continued-focus-on-new-market-opportunities-301345608.html
SOURCE Poshmark