Poshmark CEO Sees Fashion Shift As Consumers ‘Purge’ Closets

Fashion trends are shifting as consumers prepare for the post-pandemic world, Manish Chandra, CEO of online resaler Poshmark, told CNBC Thursday. Sales of clothing for going out are on the rise after roughly a year of lockdowns. Meanwhile, fitness apparel purchases are on the decline, and the e-commerce platform is a channel for buyers and sellers to “purge” their closets, he said in a one-on-one with “Mad Money” host Jim Cramer. “We certainly are seeing real change in what people are buying,” Chandra said. Poshmark is an online marketplace that incorporates social media elements where buyers and sellers can create profiles to make connections, like, comment and share apparel for sale in what’s called “Posh parties.” Read more at CNBC.