86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters API
Published
Jan 15, 2021
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Poshmark valued at over $7 billion in blockbuster Nasdaq debut

By
Reuters API
Published
Jan 15, 2021

Shares of Poshmark Inc soared more than 140% in their stock market debut on Thursday, valuing the online fashion marketplace over $7 billion, highlighting investor optimism for online shopping that has surged during the COVID-19 pandemic.

Poshmark


Shares opened at $97.5 on the Nasdaq and finished the first day trading at $101.5, well above the initial public offering (IPO) price of $42 apiece. The company raised $277.2 million in its IPO on Wednesday.

"Our business... was put to a severe test in the last 12 months, and it's really come out as thriving," founder and CEO Manish Chandra told Reuters.

"The trends that we've focused on for a long time have been accelerating... So we felt like it was the right time to introduce Poshmark to the world of public investors."

As virus-wary shoppers opt to stay home to curb the spread of COVID-19 and instead place orders online, several retailers including Walmart and Target have clocked record e-commerce sales.

Founded in 2011, Poshmark is an online marketplace for individuals to sell clothes and accessories ranging from pre-owned T-shirts to high-end boutique dresses, allowing shoppers to bid on the merchandise. It charges sellers 20% of each order as commissions.

"Poshmark has become not just an ecommerce site, but also a community where you can build a style graph and find inspirations. There's a lot of sharing and community building that's unique to Poshmark," said Hans Tung, a partner at GGV Capital and early investor in Poshmark. Style graph refers to a page showing a seller's items for sale.

Other backers include Hollywood actor Ashton Kutcher and celebrity stylist-turned-designer Rachel Zoe.

Poshmark has become profitable during the pandemic, reporting a net income of $20.9 million in the first nine months of 2020, compared to a net loss of $33.9 million in the same period in 2019.

The company, which has 70 million registered users across the United States and Canada, has attributed its turn to profitability to increased demand and lower marketing spend during the pandemic. It has also seen more traditional retailers and brands join the marketplace as sellers, Chandra said.

Chandra said Poshmark plans to expand into other categories and new regions, with a more immediate interest in English-speaking countries.

Morgan Stanley, Goldman Sachs & Co and Barclays are the lead underwriters for Poshmark's offering.

This week could be the biggest for new listings in more than five years, as companies seek to make the most of the strongest IPO market in two decades.

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