Poshmark Inc in Fortune's 2022 "Change the World" list

KUALA LUMPUR, Oct 14 (Bernama) -- Poshmark Inc has been added to Fortune’s “Change the World” 2022 list for promoting sustainability and helping to keep items in circulation and out of landfills.

The Change the World list recognises companies that have had a positive social impact through activities that are part of their core business strategy.

Each year, Fortune recognises companies that have made a measurable impact on some of the most pressing social and environmental issues globally.

“Poshmark has empowered millions of people to establish their own businesses through selling secondhand.

“Our impact is a direct result of our community of sellers, and how they are making the fashion system more connected, circular and sustainable,” said Poshmark founder and chief executive officer, Manish Chandra in a statement today.

By providing an all-in-one platform to simplify the secondhand shopping experience, Poshmark makes it easy, simple and fun to participate in the circular economy.

As a leading social marketplace for secondhand goods, Poshmark has kept over 200 million items in circulation across the categories of apparel, pets, home and electronics, among others, all while serving as a source of income for millions of independent sellers.

In 2021, Poshmark’s gross merchandise value increased 27 per cent to US$1.8 billion (US$1=RM4.69), pointing to the increased interest in buying and selling secondhand goods, particularly among millennial and Gen Z audiences.

To further extend the lifespan of items, Poshmark introduced the Reposh feature in 2020, which allows users to efficiently relist an item purchased on Poshmark.

More details are available at www.poshmark.com.

-- BERNAMA