US-based Poshmark, a social commerce platform for second-hand fashion, has announced its plans to venture into the Indian market. The platform, which has expanded its reach to Canada and Australia recently, is all set to introduce its unique platform to India as well.
“When we started off 11 years ago in the US, there was a lot of skepticism, but our platform currently witnesses a gross merchandise value (GMV) of $1.4 billion. But as we enter the Indian market, it’s natural to have that skepticism. But we feel the consumer in India has always been focused on sustainability more so than any other markets. A marketplace such as ours provides both value and a sustainable lifestyle,” said Poshmark’s founder & CEO, Manish Chandra in a statement to the Times of India.
With the recent advent of vintage and thrift fashion, the idea of second-hand fashion has been warming up to Indian customers, something that could be a possible hint at Poshmark’s entry in India being a potential success. While the Indian market already has second-hand goods platforms like OLX and Quickr, Poshmark’s business model is slightly different. While the platform allows users to click pictures of their own apparel and send the same to other users, unlike other second-hand selling platforms, Poshmark provides the backend support for pickups, drops and deliveries. The platform also includes a social aspect by allowing pictures and posts to be commented on and liked.
Image used for representational purposes only.