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Poshmark to exit Australia to focus on core markets

Fashion marketplace Poshmark has announced the closure of its operations in Australia, India and the UK to focus on its North American business.

The company said on its website that it plans to increase investment and “drive meaningful growth” in its core markets – the US and Canada.

Buyers and sellers for Australia, India and the UK will no longer have access to the marketplace via the app or web starting November 2.

The Posh Credit for these markets will expire after October 25, while unshipped orders will be automatically cancelled on October 28.

Founded in 2011, Poshmark is a social commerce marketplace where users can buy and sell new and secondhand fashion, home goods, and electronics. 

The firm expanded to Australia and India in 2021 and entered the UK in January this year.

According to TechCrunch, which quoted data from intelligence firm Sensor Tower, Poshmark has about 8.1 million monthly active users on its phone apps. Only about 500,000 active users were recorded across the UK, Indian, and Australian markets during the past month.

The California-based company was acquired by South Korean e-commerce company, Line’s parent Naver, for US$1.2 billion last year.

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