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Business Summary. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. Discover independent brands making waves and the creators behind them. Dont expect easy answers. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. 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 . The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. 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. A copy of the presentation that will be covered on the conference call will also be posted to our website. 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. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. To some degree, we have a closer relationship with Gen Z than almost any other institution in the world at scale, says Depop chief brand officer Peter Semple. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London, England and operate as a standalone marketplace run by its existing leadership team. Etsy CEO Josh Silverman said the company was "thrilled" to be adding what it believes to bethe"resale home for Gen Z consumers" to Etsy. Get paid for the item and start the shipping process. And it doesn't look like there's a way to list items from a computer. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. That way youll receive all of your items together instead of one at a time. Create an account to follow your favorite communities and start taking part in conversations. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Depop, on the other hand, is a better choice for a small business. Contact Data CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For . ". Shop now Sell your way Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. Email us at feedback@voguebusiness.com. These and other risks and uncertainties 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 September 30, 2022, and subsequent reports that we file with the Securities and Exchange Commission. ", Rachel Glaser, Etsy's CFO, commented, "We've admired Depop for a while, and are excited to have now reached an agreement to purchase this fantastic business - a company we believe is still in the early innings of its growth opportunity. Prices for clothing range from $3-$15. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Take up to four photos. You need at least a Starter Account to use this feature. <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. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. Got a confidential news tip? If you're trying to browse thredUP from another country, you unfortunately won't be able to access our site and will have restricted website access. While some users complained of poor customer service, Depop can help you make extra money online. Prior to agreeing a sale to Etsy, Depop had raised a total of $105.6 million from investors including General Atlantic, Creandum, Balderton Capital, Octopus Ventures and Klarna CEO and co-founder Sebastian Siemiatkowski, according to data from Crunchbase. Press J to jump to the feed. [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. SourceForge ranks the best alternatives to Depop in 2022. Overview. [10] In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash, making it Etsy's most expensive acquisition, but that Depop would continue operate as a standalone brand independent from Etsy. Its user interface is modeled after that of Instagram, and users can sell items by posting pictures of them to their profiles, along with descriptions, hashtags, and prices. Phone: (718) 880-3660. p:718 880-3660. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. [12] It is the 10th most-visited shopping platform for Gen Z consumers in the US,[18] and, in a poll conducted by The Strategist in 2019, Depop was voted by teenagers as their favorite resale website. Popular sellers on the platform often go on to become social media influencers. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. Aria says it's because Depop is about people, not just about the item being sold "We're not just a platform for people to buy and sell. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Sky warns: "Don't let your photo be more distracting than the product you're selling.". I think for my generation it comes quite naturally Theres a lot more respect and open conversation., For Gen Z, the inspiration journey is never linear, Semple says. [4] Its headquarters were moved to London in 2012. Over 3 million products sold in 12 months with a year limited warranty, Sell smartphones, tablets, laptops books, watches, video games and Lego, Get a free instant item valuation, ship your item for free and get paid, No fees for sellers buyers pay no fees up $50 items. Airnow. For Semple, physical events remain hugely relevant. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. With over 26 million users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. BROOKLYN, N.Y., June 2, 2021 /PRNewswire/ --Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, has signed a definitive agreement to acquire Depop, a privately-held, community-led, and purpose-driven marketplace for unique fashion for $1.625 billion consisting primarily of cash, subject to certain adjustments for Depop's working capital, transaction expenses, cash and indebtedness, and certain deferred and unvested equity for Depop management and employees. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. You need a Statista Account for unlimited access. Depop has around 30 million users in over 150 countries, the majority of whom are young people. We disclaim any obligation to update forward-looking statements. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. Depop users who opt for using Royal Mail are penalised by being forced to pay Depop sales fees out of pocket and wait up to one month to receive their earnings. 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. trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. As soon as this statistic is updated, you will immediately be notified via e-mail. eBay is an e-commerce platform, at first only providing customer-to-customer auction services, expanding into business-to-consumer shortly afterwards. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. Vintage, streetwear, one-of-a-kind, Y2K are the biggest styles on Depop. Depop was established as a social network for readers of PIG magazine back in 2011 by magazine founder - and head of sunglasses brand Retrosuperfuture - Simon Bekerman. "Australia is Depop's third largest market. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? While Decluttr focuses on selling media stuff such as used tech and media such as CDs, DVDs, and Blu-rays, Depops primary focus is selling clothing, shoes, and other items. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. Leading fashion e-commerce companies worldwide 2022, by market cap, EV/EBITDA of leading fashion e-commerce companies worldwide 2021-2023, Global consumers reasons for returning clothes bought online 2021, Main online impulse purchases worldwide 2022, by gender. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. As a Premium user you get access to the detailed source references and background information about this statistic. She has about 40,000 followers, and selling clothes online has become a full-time job for her. About Depop Our leadership Facts and figures. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Its important to have cultural fluidity, she says. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. Countries. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. The brand registered unprecedented growth in May and July 2020, with. 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. Those interested in submitting questions during the conference call can do so by using the Q&A chat window, which will be available during the webcast. To receive the Vogue Business newsletter, sign up here. Fluidity extends beyond gender identity. On this Wikipedia the language links are at the top of the page across from the article title. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? You can only download this statistic as a Premium user. 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. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. Whatever you're into, find the item and the seller for you on Depop. Who we are. Pay for the item, tell the seller where to ship it, and pay for it. It allows users to buy and sell items, most of which are used . Listings also aren't required to look overly professional, which makes the Vinted app better suited for casual sellers who want to clear their inventory. Sellers can set up their Depop shop and quickly list . Available everywhere. Access to this and all other statistics on 80,000 topics from, Show sources information Comments, questions or feedback? Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. Over half of respondents said they buy secondhand to find one of a kind pieces, while 45 per cent use it to tap into trends. It also gives the online marketplace a bigger footprint in fashion resale. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." 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. $5+ thereafter, Sell computers, home tech, cameras, phones, watches, laptops and tablets, Sell your item directly to buyer and get paid the next day via PayPal, 180+ million buyers, easy listings and sell directly from the smartphone, List up to 200 items for free every month, and only pay when they sell, Global brand trust and seller protections in place from buyers scams. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. There are plenty of resources available to help you cleared up any questions you may have. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. This partly refers to self-identity. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. --Etsy, Inc., which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, has signed a definitive agreement to acquire. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Depop Summary. The Depop plan sets out a series of targets to hit by the end of 2021. The app is also meant for buyers looking for items they can buy. The company was founded in 2011 and is headquartered in London . E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. An overwhelming 90 per cent of its active users are under the age of 25. It was established in 2011 by Simon Bekerman and now has over 15 million . Please read rules before posting. How to sell. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. You can then. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. There are no boundaries anymore between commerce and connections, consumption and production, and even entertainment and entrepreneurship, says Federica Levato, a partner at Bain, who worked on the report. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. Sure, both platforms offer similar services, but their approach is different. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. Please see our privacy policy for more information. 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. Unfortunately, Depop doesnt ship directly to Europe. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. 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. Users can buy and sell clothing, accessories, and beauty products. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. With roughly 30 million registered users across nearly 150 countries,. Up to 140,000 new listings every day. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. It's also recommended to refresh and bump your listings for them to stay at the top of the search. However, we have a pretty simple solution that gets around this restriction. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. 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. Etsy has sufficient available liquidity to fund the acquisition. It must've been cuz I mentioned the BBB. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Forward-looking statements include statements relating to our financial guidance for the first quarter of 2023 and key factors impacting our guidance; the impact of our Right to Win and other growth strategies, including our strategies for integrating our House of Brands marketplaces, marketing and product initiatives, and investments and other levers of growth on our business and operating results, including future gross merchandise sales (GMS) and revenue growth; our ability to attract, engage, and retain buyers and sellers; the global macroeconomic uncertainty and volatility, including inflation and rising interest rates; the status and impact of the macroeconomic headwinds and tailwinds, including additional or unforeseen impacts that COVID-19 and general market, political, economic, and business conditions may have on our business, strategy, operating results, key metrics, financial condition, profitability, and cash flows; our opportunity to reach new buyers; and uncertainty regarding and changes in overall levels of consumer spending and e-commerce generally. 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. If you experience any issues with this process, please contact us for further assistance. According to positive reviewers, Depop allowed them to start their small business. With 4 million active buyers and 2 million . In 2021, Depop was acquired by Etsy for $1.6 billion. In 2012, Depops headquarters were moved to London, and the company opened additional offices in Milan and New York City. 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. Get full access to all features within our Business Solutions. In, Airnow. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. Users can pay for items using PayPal. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Online marketplace Etsy announced . Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Chart. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. What are the Other Ways to Make Money on Depop? Disclosure. But why Depop? 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. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. 22. Depop is the app for you . Depop reports having over 30 million registered users in over 150 countries. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. 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. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. However, while both apps provide practically the same services, they differ in a few key areas. That presents a challenge for Depop. Learn more about how Statista can support your business. 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. You have successfully joined our subscriber list. 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. Forward-looking statements include all statements that are not historical fact. So, when you want to order restricted items from the Depop store, you simply enter the address MyUS provided and get your packages shipped there. Make sure your clothing is the focal point of the picture by keeping the . Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Deb Wasser Depop is a place for anyone to discover and . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. Like Depop, Decluttr is free to download and use. The platform's "Explore" page features items picked out by Depop staff. 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.