Poshmark, Inc. has announced Aug. 2 plans to bring its simple, social, and sustainable shopping experience to India.
Manish Chandra, Poshmark founder and CEO, is a native of India and voiced his excitement on bringing Poshmark to his home country.
"Having roots deeply embedded in India, I am delighted to be bringing Poshmark to my home country," Chandra said in a Poshmark press release. "India is an ideal fit for our unique social commerce model, both from a cultural and business perspective — India thrives in togetherness, and the country's dynamic, youthful and inherently social culture aligns with the core value proposition of our company and community."
Poshmark is a secondhand clothing ecommerce marketplace and the company predicts it will be a good fit for India — the world's second most populous country and one of the fastest-growing ecommerce markets in the world.
"At the same time, the market opportunity is massive and growing, as people increasingly turn to ecommerce while seeking a more socially connected and sustainable experience," Chandra added. "We look forward to empowering Indians of all ages and backgrounds to join us in an entirely new way to shop."
In addition to the new Indian expansion, Poshmark also announced two new global executive appointments: Sylvie De Wever as the first vice president and general manager of international, and Anuradha Balasubramanian as GM of Poshmark India.
"We are thrilled to welcome Sylvie and Anuradha to our team and have them spearhead our move into India," Chandra said, according to the press release. "This expansion is so important to me personally, and I could not be more pleased and honored to have these two on board. They will play a critical role in scaling Poshmark's social shopping community and redefining the future of shopping around the world."
The expansion advances Poshmark's agenda of international growth.
The company has also expanded its platform to Canada and Australia within the past two years.
Poshmark was established in 2011 and is headquartered in Redwood City, California, according to the company's website.