Woman's Fashion Reseller Poshmark raises $25 Million

Poshmark, a web reseller for ladies’s fashion, announced that it had secured $25 million in it’s modern day spherical of funding with the aid of GGV Capital.

Woman's Fashion Reseller Poshmark raises $25 Million


Poshmark, a web reseller for ladies’s fashion, announced that it had secured $25 million in it’s modern day spherical of funding with the aid of GGV Capital.

Based in 2011, Poshmark has seen roughly 1.5 million sellers use their app to sell fashion items that they not have a want for. The excellent way to explain the corporation is that they are a touch little bit of eBay Inc. (eBay), a bit bit of Pinterest, and a touch little bit of Instagram all blended collectively. The app allows customers to upload photos of the whole lot from garb to shoes and add-ons. Then you could use different filters to make your gadgets look greater attractive.

Within the app, you could comply with exclusive brands that you like or even your buddies to see what they're currently selling. This gives the app a comparable feel to Instagram.

Whilst the corporation’s fundamental awareness is on used fashions, they lately commenced operating with popular manufacturers to offer a number of their top users access to new clothes at wholesale prices.

A characteristic that has grow to be popular with its users is Posh events. These are shopping for and selling parties that take area inside the app and are centered round sure subject matters. You could attend digital parties consisting of a bit black get dressed and heels birthday party or visit an event geared in the direction of fall layers.

Promoting garments with Poshmark is painless. As soon as an item is offered, you may print a pre-paid address label and attach it to the container. Then without a doubt drop it off on the put up workplace or have the USPS choose it up free of charge.

So what does the future preserve for Poshmark after this new round of funding?

“With this new spherical we are hoping to scale the growth of partnerships with fashion manufacturers and expand Poshmark into exclusive classes,” said Manish Chandra, Co-founder, and CEO. “we've simply launched prolonged sizes (including plus and petite), and children is at the horizon as well as men's, and we want to extend our number of retail companions from 50-500. We additionally want to expand globally over the following year, and that is a massive reason why we partnered with GGV.”

The commercial enterprise clearly has its proportion of opposition which includes ThredUp and Snobswap. Every other competitor twice, a San Francisco-based startup that had raised $23 million from several buyers closed its doorways currently. The most important gain that Poshmark has is that they do now not bodily hold any stock, so their overhead fees are low.

In four rounds of funding, Poshmark has now raised $65.Five million dollars. Past investments have come from superstar traders along with Ashton Kutcher and Rachel Zoe.

With this investment Hans Tung, managing associate at GGV Capital might be joining the Poshmark board of directors.





Related Article: Style Secrets For New Age Lovers Of Vintage Fashion


 
Related Article: Five Beauty Tips From Beyoncé's Makeup Artist


Related Article:  5 Beauty Trends Everyone Needs To Know About

COMMENTS

Name

Fashion,15,Lifestyle,2,Makeup Tips,3,
ltr
item
Mi Fashion Blog: Woman's Fashion Reseller Poshmark raises $25 Million
Woman's Fashion Reseller Poshmark raises $25 Million
Poshmark, a web reseller for ladies’s fashion, announced that it had secured $25 million in it’s modern day spherical of funding with the aid of GGV Capital.
https://2.bp.blogspot.com/-LygBUZ5FaVQ/VycESKwJokI/AAAAAAAAAE4/E-hMmYbamXMEyUuEMv0cMIGqYOKrvbi_QCLcB/s640/maxresdefault.jpg
https://2.bp.blogspot.com/-LygBUZ5FaVQ/VycESKwJokI/AAAAAAAAAE4/E-hMmYbamXMEyUuEMv0cMIGqYOKrvbi_QCLcB/s72-c/maxresdefault.jpg
Mi Fashion Blog
http://www.mifashionblog.com/2016/05/womans-fashion-reseller-poshmark-raises.html
http://www.mifashionblog.com/
http://www.mifashionblog.com/
http://www.mifashionblog.com/2016/05/womans-fashion-reseller-poshmark-raises.html
true
5993228651258038020
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy