India has a very strong foundation for resale marketplace: Poshmark
image for illustrative purpose
US-based social shopping marketplace Poshmark, which specialises in second-hand clothing, launched its operations in India on September 15, a country that hasn't been a happy hunting ground for pre-used fashion.
The company that went public earlier this year has big plans for India has also been the R&D centre for the global behemoth for many years.
Priyanka Sahay, Manish Chandra, Founder-CEO of Poshmark, and Anuradha Balasubramanian, Head of Poshmark India Marketplace, share the company's expansion plans, strategy and the IPO journey. Edited excerpts:
Chandra, Founder-CEO of Poshmark said "We are really excited about the opportunity. The time, the technology, the place where we are really bringing a bunch of forces together. It is a unique time in history, which is painful and dark but also in some ways full of innovation and change really sets the stage for this right now. People are focused on sustainability, particularly the younger generation.
We want to invest in it—at the people, marketing and growth level as the opportunity scales up. We think of it as multiple phases of growth.
The first phase for us is getting the platform out in the hands of users, starting to build the foundational community and then using the strength of that community. As that community develops it will just create more and more vibrancy in the market. That's the way we look at it.
