US second-hand platform Poshmark launches resale platform for brands

According to foreign media reports, the US second-hand e-commerce platform Poshmark is serving larger brands . The company launched the "Brand Closet" program on Tuesday , which allows brands to connect with Poshmark buyers through the platform's existing social selling features . Through this program, brands will have more opportunities to promote their products and increase brand awareness, while also driving online sales of second-hand products on the platform .

The picture comes from Poshmark official website

Poshmark founder and CEO Manish Chandra said they are excited to open their social marketplace to many brands , enabling them to build loyal and lasting connections with their audiences, open up new sales channels, and provide shoppers with personalized e -commerce services. Manish Chandra also said that by connecting brands directly with a highly engaged and enthusiastic community of consumers and e-commerce enthusiasts, Poshmark is building a stronger and more vibrant market .

In 2020, Poshmark piloted the Brand Closets program with many big brands, including Free People, Dose of Colors and Lucky Brand. The program helped many brands increase buyer loyalty and engagement, while also helping the platform itself maintain its dominant position in the sales of second-hand goods.

The report said that the plan launched by Poshmark also reflects the overall trend of resale platforms providing second-hand plans for big brands.

ThredUp, another well-known second-hand platform in the United States , currently provides resale services to Walmart, Madewell, Adidas and Vera Bradley through its resale as a service (RaaS) technology.

It is predicted that the size of the second-hand market will more than double to $77 billion in the next five years, and more brands will begin to pay attention to circular fashion.

Poshmark went public for the first time in January this year , when it sold 6.6 million shares at $42 per share, raising a total of $277 million and a market value of $7.4 billion. Second-hand platform ThredUp raised $ 168 million in its initial public offering in March , with a valuation of nearly $1.3 billion. Other resale companies have also gone public recently, showing that the development of second-hand resale platforms cannot be underestimated.

USA

Poshmark

Resale