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Poshmark Deal Points to More Acquisitions in Resale Market

Secondhand marketplaces face mounting competition from brands. After struggling as a public company, resale site Poshmark is being acquired.

A secondhand jacket being prepared to be photographed at a Trove Recommerce warehouse. Companies such as Trove are powering growth in the resale market.

A secondhand jacket being prepared to be photographed at a Trove Recommerce warehouse. Companies such as Trove are powering growth in the resale market.

Source: Trove Recommerce

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The world's biggest brands have had enough.

After watching online marketplaces rack up billions in revenue from secondhand sales of their goods, brands ranging from Lululemon Athletica to Jimmy Choo are aiming for their own piece of a resale market that Coresight Research projects to hit $30 billion in the US next year.