Poshmark added a framework from Amazon, Rodrigo Brumana, as the new CFO, as the fashion market seeks to improve its marketing returns, reported The Wall Street Journal (WSJ).
“Poshmark has a long track of opportunities ahead, and with Rodrigo’s vast experience, we will continue to accelerate growth and realize our vision of creating a more transparent, social and circular way of shopping,” CEO of Poshmark Manish chandra said in a Press release announcing the appointment.
Brumana has been Amazon’s chief financial officer for its private label business since last year, according to the WSJ. He also worked with OfferUp, a used goods market, as CFO. Prior to that, he was eBay’s senior finance director.
Brumana will be responsible for finding innovative ways to improve the company’s marketing ROI, which could help attract new customers, the report says.
Poshmark went public earlier this year.
Read more: Poshmark IPO shines a light on reCommerce
The company recently faced challenges due to changes to Apple’s App Store privacy, which required users to be interviewed before their information was submitted for tracking, according to the. WSJ. This led to many users opting out which in turn led to apps getting less data for targeted ads.
Last week, Poshmark said its third-quarter revenue increased 16% to $ 79.7 million. Active buyers in the past 12 months reached 7.3 million in the three months ended September 30, a 17% increase from the same period last year.
See more : Poshmark sales penalized by Apple privacy changes
Last month, Poshmark launched the Brand Closet program to enable large businesses to connect more directly with the company’s second-hand market. The new program allows brands to advertise limited offers on the platform, set up one-on-one interactions and raise awareness of the Poshmark catalog.
Read more: Poshmark allows brands to sell directly on the platform