Poshmark’s IPO reveal proves that resale is the future of fashion. Secondhand clothing has been fueled by young shoppers, and YPulse’s fashion and style report found that 26% of 13-39-year-olds have purchased clothing from a resale app or site like Poshmark. That platform has seen booming success: At the end of June, the company saw net income of $8.1 million and by September, revenue rose 28.1% to $192.8 million from $150.5 million in nine months. They featured “over 201 million secondhand and new items for sale across 9,431 brands,” with “31.7 million active users, 6.2 million active buyers and 4.5 million active sellers.” (Sourcing Journal, Vogue Business)
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