When you click on 23-year-old Lyuu's Depop shop, you'll see a collection of pink, black, red and white gothic and vintage clothing from a designer Dior bag that costs nearly two grand to an . Get paid for the item and start the shipping process. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. It has also only made headway in the Australia, Italy, the UK and US, with the last two countries responsible for about 70% of downloads in 2020 and 2021. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. The Company's primary marketplace, Etsy . Depop reports having over 30 million registered users in over 150 countries. The transaction is currently expected to close during the third quarter of 2021, subject to satisfaction of customary closing conditions, including antitrust review in the United States and the United Kingdom. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Please create an employee account to be able to mark statistics as favorites. <u>Company Description</u><br><br>Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. I agree to receive your newsletter. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. Fluidity extends beyond gender identity. Founded in 2011, Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world's most diverse and progressive home of fashion. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Get paid fast when your item sells. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Then you can access your favorite statistics via the star in the header. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Who we are. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. don't give up! The first difference is the market available. And forget all about contacting their support. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? As people are given access to so many different types of inspiration, whether its peer-to-peer or the mix of influence you can get from each type of influential figure, each individual is fluid in their style, their self-expression., Hadiyah Hussain communicates her South Asian culture through her brand on Depop, which features screen-printed pieces for all genders and sizes. Ticker: ETSY. Currently, you are using a shared account. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. It is one of the few success stories of the dot-com bubble, which . Depop is a place for anyone to discover and celebrate their style on their own terms, and to feel good about their fashion choices by extending the lives of millions of garments. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, The Long View by Vogue Business: Gen Zs power will reshape luxury, Post-pandemic playbook: What Gen Z want from physical retail, Fluidity, glamour and pop culture: The top trends of 2021, Enter your email to receive editorial updates, special offers and breaking news alerts from, From TikTok to Depop: Fashions new trend funnel. When it comes to newness, this generation has a new lens through which they see new.. Forward-looking statements include all statements that are not historical facts. Pay for the item, tell the seller where to ship it, and pay for it. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. 22. The first difference is the market available. ", She added: "Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. This transaction is an ideal fit with Etsy's marketplace M&A criteria: Aligns with Etsy mission, strategy and values: Depop shares Etsy's DNA, with a parallel growth strategy that highlights sellers' unique merchandise by improving search and discovery, driving human connections, and building marketplace trust. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . The app has over 10 million users and is available in over 100 countries. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. These businesses all share similar levers of growth to unlock value, including improving search and discovery, building human connections, and making selling and buying easier. You can also move the money to your bank account once its transferred to PayPal. Depop is a website and mobile app available in over 150 countries with over 26 million active users. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Unfortunately, Depop doesnt ship directly to Europe. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. We're a community that inspires and connects our users." While some users complained of poor customer service, Depop can help you make extra money online. Have to complete the purchase to update your shipping address - Depop If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Countries. Sellers and users weigh in on the debate", "Everyone's Favorite Thrifting App Favors Thin White Models", https://en.wikipedia.org/w/index.php?title=Depop&oldid=1141140101, Online marketplaces of the United Kingdom, Articles lacking reliable references from September 2021, Articles with unsourced statements from August 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 23 February 2023, at 15:28. Sign up for free newsletters and get more CNBC delivered to your inbox. Etsy will host a live webcast conference call to discuss this acquisition at 8:30 a.m. Eastern Time today, which will be live-streamed via our Investor Relations website (investors.etsy.com) under the Events section. Users can pay for items using PayPal. This means that you will need a U.S., Canada, Australia, India, or UK billing and shipping address, as well as a U.S., Canada, Australia, India, or UK internet provider (IP) address. ETSY. You can unsubscribe anytime. <p>Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. ", "Is Depop being gentrified? Depop proudly states that 90 percent of its active users are under 26. Sky warns: "Don't let your photo be more distracting than the product you're selling.". so i am from Algeria and i started selling on depop from 2017 but recently some friends wanted to open a depop account they couldn't because the don't receive the confirmation using phone number and i looked for the app on play store and it doesn't show Generation Z, which spans consumers aged 7 to 25, will make up 40 per cent of the luxury market by 2035, according to consultancy Bain & Company, which has collaborated with Depop on the report. A DJ performs at the launch of social shopping app Depop's 3-month pop-up at Selfridges on August 01, 2019 in London, England. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Others also described the platform as an easy-to-use selling platform. Depop promises not to share your details with third parties. [15], Depop has garnered criticism from users and critics due to a number of its sellers buying clothes from thrift shops and reselling them for higher prices than they were purchased for. Get full access to all features within our Business Solutions. Approximately 90% of Depop's active users are under the age of 26; and young consumers are adopting second-hand fashion faster than any other audience; According to Depop's monthly brand awareness surveys, it has high prompted awareness for the Gen Z demographic within the resale sector; Depop is the 10th most visited shopping site among Gen Z consumers in the U.S. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. This partly refers to self-identity. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. Depop's beginnings were also relatively humble. Etsy believes Depop has a highly differentiated position in the fast-growing resale space: Josh Silverman, Etsy, Inc. CEO, commented, "We are simply thrilled to be adding Depopwhat we believe to be the resale home for Gen Z consumersto the Etsy family. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. Take up to four photos. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. In 2021, Depop was acquired by Etsy for $1.6 billion. You can unsubscribe at any time. These are called 'Shop Policies,' stating whether you accept returns as a seller. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. These risks and uncertainties include, among others, the possibility that the conditions to the closing of the acquisition of Depop may not be satisfied or waived or that other events may cause the acquisition to not be completed, the potential impact to the business of Depop or Depop's relationships with its marketplace community due to the announcement of the acquisition, Etsy's ability to successfully integrate the acquisition and execute on its business plan and 'house of brands' operating model, and general economic conditions, many of which are beyond Etsy's control, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and subsequent reports that we file with the Securities and Exchange Commission. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. As for Vinted, they have a buyer's protection feature. [4] Its headquarters were moved to London in 2012. Users can buy and sell clothing, accessories, and beauty products. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Overview. Please read rules before posting. Depop has evolved to become the community-powered fashion marketplace to buy and sell unique fashion, with approximately 30 million registered users in more than 150 countries. The second-hand market is projected to grow at a 39% CAGR from 2019-2024 in the United States, reaching $64 billion, and to grow to twice the size of fast fashion on a global basis.1 Starting first in the U.K. and moving into the U.S. and Australia, Depop now has a community of approximately 30 million registered users across nearly 150 countries. Both apps implement slightly different structures, with Depop having a more 'social' feel, with buyers scrolling through listings like they were using Instagram or Facebook. Vinted, for instance, is generally more focused on the transactional side. Algeria. Its sustainability plan is built around the UN's Global Goals, the 17 objectives designed to tackle the systemic causes of extreme poverty, including the climate crisis and inequity. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. Platforms should cater for all levels of buyer and seller, says Depops Semple. More so, what you earn on Swappa depends on the item you are selling and its condition. We'll now take an exciting leap forward as part of the Etsy family, benefiting from Josh's and his team's expertise, and the resources of a much larger company whose values are so aligned with ours here at Depop. View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Statista. You need a Statista Account for unlimited access. Up to 140,000 new listings every day. There are plenty of resources available to help you cleared up any questions you may have. Sr. Director of Investor Relations, Patricia Cruz To receive packages from the United States, youre going to need to have an address based there. Decide your price. The default refresh interval is a random number between 1 and 3 seconds. Depop is a reliable website that allows you to buy and sell items. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. It really makes us think about, how do we serve these journeys? The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. I think because a lot of my customers come from communities where fashion hadnt really considered them, they kind of gravitate to everything, he says. At Etsy, we promise to treat your data with respect and will not share your information with any third party. Depop has around 30 million users in over 150 countries, the majority of whom are young people. As a mobile app, it is available on iOS and Android platforms. Click here to view 60+ Websites to Sell Stuff. As a Premium user you get access to background information and details about the release of this statistic. Vintage, streetwear, one-of-a-kind, Y2K are the biggest styles on Depop. Available: https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021, Available to download in PNG, PDF, XLS format, E-commerce revenue worldwide 2017-2027, by segment, Global fashion e-commerce market size 2021-2025, Worldwide online fashion retail revenue 2021-2025, by segment, Online fashion retail revenue change worldwide 2019-2025, by segment, Fashion e-commerce users worldwide 2021-2025, by segment, Online fashion retail revenue worldwide 2019-2025, by region, Online fashion retail revenue worldwide 2022, by country, Fashion e-commerce revenue in Asia 2021-2025, Fashion e-commerce revenue in North America 2021-2025, Fashion e-commerce revenue in Europe 2021-2025, Fashion retail sales channel share worldwide 2022, by region, Fashion: top 5 online stores worldwide in 2021, by net sales, CAGR of leading fashion e-commerce companies worldwide 2020-2022, nike.com: E-Commerce net sales from 2014 to 2022, zara.com: E-Commerce net sales from 2014 to 2022, asos.com: E-Commerce net sales from 2014 to 2022, zalando.de: E-Commerce net sales from 2014 to 2022, Leading fashion and apparel websites worldwide 2022, based on visit share, International site traffic on top fashion websites in select countries worldwide 2021, Increase of site traffic on top fashion websites in select countries 2021, Global online fashion shopping cart abandonment rate 2021, by type, EU consumers who use mobile apps for online shopping purposes 2021, E-commerce penetration rate among active Gen Z users China in 2020, by platform, Global consumers reasons for not liking online shopping 2021, Fashion purchases of consumers in 2020 and 2023, by channel, Usage of online reviews to help with fashion purchases 2021, by country, Share of shoppers buying clothes online after store visit in Europe 2021, by country, Monthly active users of VSCO in the UK 2017-2020, Monthly active users of Reddit in the UK 2017-2020, Location of purchase of second-hand shoes/footwear in the UK 2019, Facebook Messenger: number of monthly active users 2014-2017, Types of clothing items purchased second-hand in the UK 2019, Share of MAU on the smartphone and tablet market in Japan 2018, by brand, Forecast of the smartphone user penetration rate in Estonia 2015-2022, Forecast of smartphone user numbers in Slovenia 2015-2022, Forecast of smartphone user numbers in Denmark 2018-2025, Growth in the fashion market value in Russia 2012-2017, Forecast of the smartphone user penetration rate in Switzerland 2018-2024, Forecast of the smartphone user penetration rate in Lithuania 2015-2022, Forecast of the smartphone user penetration rate in the Czech Republic 2015-2022, Forecast of smartphone user numbers in Slovakia 2015-2022, Forecast of smartphone user numbers in the Czech Republic 2015-2022, Woven fashion import volume to Japan 2015-2020, Share of fashion import volume to Japan 2021, by region, Depop app downloads per month worldwide 2020-2022, Knitted fashion import volume to Japan 2015-2021, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions), Find your information in our database containing over 20,000 reports.
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