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CALIFORNIA – Secondhand fashion platforms ThredUp and Poshmark have both reported substantial hikes in revenue as the buoyant fashion resale market continues to grow.

ThredUp's revenue increased by 26.7 per cent in the second quarter of the year, reaching almost US$60 million, and it also reported record numbers of both active buyers and orders.

Meanwhile, Poshmark posted net revenues of US$81.8 million, representing a 22 per cent year-on-year increase, and said active buyers were up 16 per cent to reach seven million.

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