Poshmark is expanding its $625 million retail empire beyond clothes and into home decor by bizcarson
Poshmark started eight years ago as a way for women to offload their extra clothes and make money, like a more social eBay where people could comment and share the clothes they liked. It's since evolved on its own to become a retail empire that racked up an estimated $140 million in revenue in 2018, thanks to its 20% cut of every sale, and expanded into categories like menswear, makeup and kids., is undertaking its biggest market expansion yet: home decor.
Home decor will be its greatest test yet as it sets up Poshmark to compete against major retailers like Wayfair to. In the last eight years, Poshmark carved out its own niche as a go-to place for fashion that feels more like window shopping on your phone rather than Amazon's click-and-buy experience. It started as a place for people to re-sell their used clothing directly to each other and the community grew to over 40 million people.
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