After nearly a decade of building a community of 40 million that buys, sells and shares fashion online, Poshmark co-founder Tracy Sun is moving the company into the home. On the latest episode of the Business of Home podcast, Sun chats with host Dennis Scully about why the power is in consumers’ hands now, the overlap between fashion and interior design, and what being customer centric actually means.
“Since selling in college, I’ve made $65,000 just on Poshmark,” Gibbs says. “Poshmark is my sole source of income. It pays for my rent, my food, my gas, my car, my phone, and I pay my parents for health insurance.”
U.S. Women’s National Soccer League star Alex Morgan has teamed up with online resale marketplace Poshmark to put her closet on sale for charity. The collection includes 40 items from the soccer star’s wardrobe, including clothing, shoes and accessories from brands like Giuseppe Zanotti, Nike, Off-White, Stuart Weitzman and more. Prices range between $21 and $2,000, with all proceeds from sales being donated to two animal welfare organizations: The Animal League – Central Florida Humane Society and The HIT Living Foundation.
Ming, who’s resume includes a number of traditional retailers, like Gap Inc., Barneys New York and a current spot on the board of Levi Strauss & Co., said it was the California-based start-up’s potential — and ability to adapt to changing consumer preferences — that attracted her to the company. “Poshmark is more than just an e-commerce platform,” she said. “It’s really about social networking and interaction. It’s a very exciting business model.”
A new academic year is many things: exciting, nerve-wracking, relieving. But it’s also expensive, with school supplies in particular putting a dent in your bank account. Poshmark is launching a School Market to lessen the burden, giving families the opportunity to replenish their pens and notebooks from the comfort of home.