Poshmark announces retail expansion and new wholesale portal

By

Obi Anyanwu

Published
Oct 28, 2015

The California-based community-driven marketplace, Poshmark, announced Wednesday its retail expansion and a new private wholesale portal that will connect fashion brands to its network of sellers.

The company is giving both big and independent fashion brands an opportunity to sell merchandise to Poshmark’s extensive network of influential sellers. Through the new wholesale portal, Poshmark will connect pre-qualified sellers to brands, allowing them to buy new inventory at wholesale prices to sell in the marketplace. Several brands have signed on to take part in the wholesale portal including Style Mafia and Snob Essentials.
 
"With this launch, we are redefining what it means to be a retailer in today's world," said Manish Chandra, founder and CEO of Poshmark. "Poshmark sellers are a new generation of women growing fashion businesses by applying their social media skills and marketing their style in an authentic way."

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In addition to its retail expansion and the launch of its wholesale portal, Poshmark is also launching an entrepreneurship grant program to provide women with initial financing needed to build their own businesses. The “Poshmark Fashion Entrepreneurs Fund” will offer financial grants of $500 to 50 Poshmark sellers to help them purchase their first retail inventory in the wholesale portal. Sellers can apply for the grant on the Poshmark website, and recipients will be selected by a panel of judges.
 
Founded in 2011, Poshmark is the largest community marketplace for fashion. The network is comprised of over one million sellers and millions of shoppers that can buy, sell and share their personal style. In April, the company raised a $25 million Series C funding led by Mayfield and Menlo Ventures.