Not only is one fashionistas used threads another's treasure, but it literally is becoming an easy way for one to shop another's closet while banking money. One may think their only option is to get up and trek to a consignment shop, but two years ago when mobile app brand Poshmark figured out a way to allow women to shop and sell in real time, they attracted a major following. Community excitement has garnered over one million items sold this year, and the number of women flocking to the site is not letting up.
Poshmark is gearing up for its first fashion festival, PoshFest, which will be held on October 19-20 in Las Vegas. The inaugural event is another milestone in Poshmark’s steady upward growth tapping into the social nature of shopping and a woman's love of fashion to build the fastest growing mobile fashion marketplace. Until now, some of its investors have remained under wraps. The fashion marketplace is revealing that it has received backing from fashion icon and designer Rachel Zoe; A-Grade Investments, a fund started by Ashton Kutcher, Guy Oseary and Ron Burkle; AngelList founder Naval Ravikant; and Shervin Pishevar of Sherpa Ventures. They join marquee Poshmark investors Mayfield Fund, Menlo Ventures, Inventus Capital Partners, SoftTech VC, and SV Angel.
As the community of users gather this weekend, not only will they celebrate community, but they will also learn valuable business tips to better market their closets, and ultimately boost their sales. Alongside panels and workshops aimed at empowering entrepreneurs, like “Jumpstart Your Style,” ”Marketing Yourself in the Virtual World” and “How to Start a Business on Poshmark,” PoshFest will feature a keynote from Poshmark founder and CEO Manish Chandra, in addition to inspirational stories from fashion bloggers and community members whose lives have changed due to the app.
“PoshFest signals the next phase in Poshmark’s mission to open every woman’s closet for sale from their phone,” said Chandra. “Ultimately, the success of our community relies on empowering the individual user, making buying and selling simple, accessible and fun for everyday women across the country.