Tag Archives: Poshmark

Thredup, now public, wants to break the resale technology for fashion brands | Instant News

Thredup, now a public company, is looking to build a resale technology solution for brands alongside its customer markets.

Thredup raised $ 168 million with a market value of $ 1.3 billion in an initial public offering (IPO) on Friday. Its stock jumped from $ 14 to $ 20. With 1.24 million active buyers, 428,000 active sellers, and $ 186 million in revenue in 2020, it’s not profitable yet. But Thredup, which keeps inventory from sellers, is betting that its white label technology could help not only the brand but its own profitability.

Competition in resale has surged in the past year, with increasing industry attention to the second-hand market, due to its relevance among younger customers, substantial growth and sustainability metrics. Thredup is the second resale company to go public this year, afterwards IPO January Poshmark and RealReal in 2019. Paris-based Vestiaire Collective created a A $ 216 million deal with Tiger Global Management and luxury conglomerate Kering, which takes a 5 percent stake. The resale market is expected to reach $ 36 billion by 2024, representing a compound annual growth rate of 39 percent since 2019, making it the fastest growing sector in retail, according to a January 2020 survey from GlobalData.

But while luxury brands may want more revenue from and control their brands in the secondary market, they are less willing and unable to spend 10 years and hundreds of millions of dollars investing in the robust infrastructure and technology needed to support them, says Neil Saunders, managing director of GlobalData’s retail division. As such, they are increasingly considering partnering with technology platforms, flooded with VC cash and scale-dependent, for branded “white label” resale technology from a customer-facing perspective.

“Brands want to play on the resale, but it is difficult to allow resale on a large scale and get the unit economy to work at a lower price point,” said Ainslee Withey, managing director at Barclays Investment Bank, which is an underwriter for Thredup’s IPO. Among the technological challenges are the ability to predict the ideal resale price, the ability to automate unique and unpredictable inventory orientation, and the ability to make personalized recommendations from a multitude of unique items. Because of this, he said, “There are clear partnership opportunities with resale technology platforms. And once they reach a certain scale, they can grow exponentially. “


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The Fashion Industry Has A Big Oil Problem | Instant News

I really like buying clothes. I spend hours in the middle of the night browsing the Instagram feed of my favorite brands, and although I try to keep buying secondhand goods, I also set alarms to remember sales samples. Shame on you, I know.

As it turned out, this behavior didn’t just hurt my bank account. IIt also heats the planet. That’s because fashion has a big oil and gas problem. Sixty percent of these clothes currently produced worldwide contain fossil fuel-based fibers such as polyester, spandex, acrylic, and elastane.

A 2018 study found that the release of textile production 1.2 billion metric tons of carbon equivalent greenhouse gases per year, which is more emissions than international flights and ocean shipping combined. And the problem is getting worse.

As the world shifts from fossil fuels to energy, the oil and gas industry is in focus expand plastic production as another way of staying in business despite the risks it poses to the planet. If the growth trend continues, plastic will be the culprit 20% of world oil consumption by 2050. That includes the fossil fuel fibers in our clothing. If the manufacture of cloth made from plastic continues to increase at the current level, their production by 2050 will be his responsibility twice as much carbon as produced throughout India in 2018.

It is possible, of course, to buy aren’t made of oil and gas. Garments made from 100% natural fibers like cotton, linen, and hemp, for example, are out there, albeit sometimes at a higher price. But even though the carbon footprint in producing natural fibers is much smaller, it takes up other valuable resources such as water and land maybe it’s better to use to grow important food crops.

There are other ways to shop, of course. You can promise to shop less, or buy only second hand clothes from retailers like Poshmark, RealReal, and Goodwill. This is not a bad idea. But as always, we cannot solve problems by individual action. Climate scientists ever make it clear that we need to ban fossil fuels altogether, making sure they aren’t extracted for use in clothing – or whatever.


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Poshmark, Inc. Continuing International Expansion with Australia Launch | Instant News

REDWOOD CITY, Calves., 16 February 2021 / PRNewswire / – Poshmark (NASDAQ: LUXURY), the leading social marketplace for new and used styles for women, men, children, pets, homes and more, today announced it will be available to Australians looking for more social and sustainable ways to shop, sell and connect . This move is part of Poshmark’s strategy to promote long-term growth through international expansion, starting with English speaking countries. Poshmark Australia is another step towards the company’s mission to create a truly global social marketplace that places people at the heart of commerce, empowering everyone to thrive.

Starting today on 2 p.m. Pacific Time, Australians will be able to join the Poshmark community and start selling and buying from fellow Australians, as well as have the opportunity to engage with a community of 70 million Poshmark users across the US and Canada via the app or the web. In addition, Poshmark offers a number of virtual community-organized events to create and foster social relationships, including Posh N Sip, Posh N Coffee and Posh N List. This unique social gathering and educational event is designed to help the Poshmark community network and grow their business.

“We are very excited to present our social market Australia, expanding the simple, social and sustainable Poshmark shopping and selling experience worldwide, “said Manish Chandra, founder & CEO of Poshmark. “The Poshmark community is becoming stronger and more dynamic as it grows and we are delighted to welcome Australians to join us as we shape the future of shopping, together. Today’s launch is just the beginning and we look forward to building a thriving and successful community here. Australia. “

Poshmark makes it easy and easy for anyone to sell, made possible by a comprehensive range of end-to-end seller tools and services, including unlimited listing, merchandising, promotion, pricing and delivery. From casual salespeople looking to clean their closets to entrepreneurs building small businesses, anyone will be able to take advantage of Poshmark’s innovative social selling features to connect with buyers and increase their sales. These tools include Fancy Party, Fancy Story, and Reposh, which makes it easy to re-circulate items purchased at Poshmark with just one click. In 2019, 87 percent of items purchased at Poshmark were preceded by social interactions (likes, comments or offers).

Shoppers will find a more engaging, interactive and social shopping experience curated and personalized by the Poshmark community of sellers. Apart from buyer protection and Poshmark authentication services, members of the Australian community will benefit from PoshPost, Poshmark’s easy and integrated delivery service.

In May 2019, Poshmark launched in Canada, the company’s first market expansion outside the US, growing its community to more than 1.4 million active users in its first year. Last week, the company announced that it has expanded to the Pet category and in 2020 launched Beauty. Poshmark’s scalable model and infrastructure allow for future sustainable strategic expansion, serving multiple countries and categories over time.

About Poshmark, Inc .:
Poshmark is the leading social marketplace for new and used styles for women, men, kids, pets, homes and more. By combining the human connection of physical spending with the scale, convenience, and selective benefits of e-commerce, Poshmark makes buying and selling simple, social, and sustainable. Its community of more than 70 million registered users across the US, Canada, and now Australia, fostering a future of trade while promoting more sustainable consumption. For more information, please visit www.poshmark.com.au, and for company news and announcements, please visit investor.poshmark.com. You can also find Poshmark at Instagram, Facebook, Indonesia, ICT tock, Pinterest, and Youtube.

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