Poshmark will close its Australian arm on Thursday, October 26.
The global recommerce marketplace will also exit the United Kingdom and India in the same swoop.
Australia was the second international market Poshmark expanded into outside of the US, taking place two years after its launch into Canada in 2019.
Poshmark founder and CEO Manish Chandra said the exit would allow the company to invest in its core North American market.
“I know this is especially hard news for those of you across the globe who have come to know and love Poshmark—please know that I’m incredibly grateful for you and for the community that we’ve built together,” Chandra confirmed in a blog post. “We hope to be back at some point in the future.”
Poshmark is a social marketplace for new and secondhand styles for women, men, kids, pets, and home.
According to TechCrunch, a US-based news outlet, the California-based marketplace is preparing to lay off a proportion of its more than 800 staff. It came after South Korean internet firm Naver acquired the company for $1.2 billion in early January.
Founded in 2011, Poshmark claims to have more than 80 million registered users across the United States, Canada, Australia and India, with more than 200 million items listed for sale.