A uniquely curated collection celebrating vintage Polo. adidas Originals and Depop, the community-powered marketplace app to buy and sell unique fashion, announce a collaboration that reimagines the classic Stan Smith silhouette for the next generation, on a journey to End Plastic Waste. Click "Print" to print it from your phone or email. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Depop sale: fashion retailers must move faster on sustainability - or they will be replaced by Gen Z apps Published: June 8, 2021 11.25am EDT Want to write? Depop generated revenue of $70 million in 2020, which was up more than 100% from 2019. What she bought and sold depended on her moodsometimes she photographed herself dressed up like a fairy, sometimes in streetwear. Instead of playing an instrument, they are finding a hobby through Depop., There are the much-talked-about Depop success stories, like Bella McFadden, known as Internet Girl, the 26-year-old who has made $1 million on the app. Depop is the fashion marketplace where you can explore your style. Theyre one of the few brands of the world that constantly reinvent, constantly innovate, he says. You can choose from hundreds of brands, including renowned names like Adidas, Dr. Martens, and Urban Outfitters. Depop has raised a total of $105.6M in funding over 7 rounds. Strengthened policies and procedures and conducted training to address key ESG risks such as corruption, GDPR, harrassment and discrimination, insider trading and greenwashing, as well as updated our employee performance review process to formally include both sustainability and DEI considerations. Vendors previously copied Depop designs by dropshipping the products from China for a much lower price. 39 talking about this. Raga says she agreed to the acquisition only because Etsy had a track record of leaving well enough alone. He will be holding shopping bags and pretending to talk over the phone as if he is having a very important conversation. The union aims to help sellers on the peer-to-peer social app optimize. Peer-to-peer isnt a business model, its the way we can create true and lasting change. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City.The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy.It allows users to buy and sell items, most of which are used and vintage pieces of clothing. 18-35 year olds are making an average of 350 a year by selling unused clothing lurking in their wardrobes. Tim Bradshaw June 2 2021 Receive free Etsy Inc updates We'll send you a myFT Daily Digest email rounding up the latest Etsy Inc news every morning. I try to take the reject pieces and find a way to make them cool, she says. Depop Fees. As the social-shopping platform's global head of sustainability, it's Justine . Depop was founded in 2011 and has since become one of the most well-known fashion marketplaces. Depop has a consumer rating of 1.24 stars from 206 reviews indicating that most customers are generally dissatisfied with their purchases. Funding. Learn more about how Statista can support your business. been rounded. Maria Raga never expected to be able to pull off a pair of yellow Versace pants like the ones she was wearing the day we spoke in July. Etsy CEO on how $1.6 billion deal for Depop could help the company grow E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. In fact, it is something you should do no matter what platform you are using. Click on Next after writing a bio about your shop and what youre selling. To date, employees have formally launched. According to Depop, its revenues reached $70 million for the fiscal year 2020. According to Etsy, which acquired Depop in June 2021 for $1.625 billion, Depop is worth $1.625 billion. Shares of online resale market Poshmark more than doubled after its IPO in January 2021, and ThredUps stock went up 30% when it went public in March. Well not only teach you how to sell on Depop, but well also give you some selling advice and information about Depop costs, the shipping process, and more. Additionally, the revenue of the online fashion marketplace. Tap the Profile icon at the bottom right of your mobile screen to open the Depop app. Please do not hesitate to contact me. Sydny Boney says her dad doesnt really understand her side hustle on Depop but she gets to work on her own terms by selling secondhand clothes online. One-to-one interviews with Depop users in the UK, US. The resale market has been gaining popularity over the past several years, and established retailers like Patagonia, Nordstrom, Levis, Burberry, Gucci and Walmart have all launched resale programs that they market as both affordable and eco-friendly. From 2017 to 2020, the company has grown by about 70 percent annually. To send a partial refund, switch to the Partial refund tab and type in or select the amount you'd like to . . At Depop, weve always believed that peer-to-peer is more than just a business model, its a way we can create true and lasting change through the power of people. Thats what attracted Raga to the company in 2014. This statistic is not included in your account. Changing fashion isnt hard. Future Fifty and Creandum are the most recent investors. Etsy's $1.6 billion acquisition of Depop signals a need for the marketplace to extend its reach to young shoppers, many of whom are turning to secondhand platforms. Depop, a social shopping platform based in the United Kingdom, has been experiencing a reduction in monthly app downloads. 2021 and subsequent reports that Etsy files with the Securities and Exchange Commission. Use of this site constitutes acceptance of our, Digital Shop independent designers, brands you know and the brands to know. Photo: David M. Benett/Getty Images for Depop. You can purchase clothes from Depop by visiting the Depop website or downloading one of the platforms mobile apps, then tap available on Android and iOS devices. Quality 73. Depop proudly states that 90 percent of its active users are under 26. Beckerman gave the glasses to stylists, photographers, and acquaintances of celebrities who later wore them in public. Just make some money and live as freely as I like to.. He then recruited sellers who already had engaged followings on social media. Chart. The in-app collection is set to go live on January 17th will feature ~90 preloved items from Megan Thee Stallion and four top Depop sellers from Texas, celebrating a Texan flair and attitude that's culturally relevant on a global scale. Still won't let me use the app and they still won't unban me even after asking and apologising I won't do it again. ABSOLUTELY DISGRACEFUL AND SPITEFUL APP DO NOT GET THIS APP unless you'd happy with daylight robbery, terrible customer service , useless support staff and random account suspension or in my case DELETED ACCOUNT. To coincide with the opening of Exhibition Two, Cartoon Network will announce the founding and launch of an Artist in Residence' program, with Slumpy Kev as their first recipient. Im biased because I feel Depop has offered me opportunities as a Black girl, says Boney. I asked for help, assistance in understanding how the extension could be making a difference in the way promised, and finally just for the money back I spent for the year-long subscription. It's obvious why Depop is popular among young people. In light of . There arent so many people who look like me, she says. So he decided to develop an online store that interfaced with PIG. But I get to work on my own terms. Its a very cool color. But sustainability is not something that is solely for the white middle-class lady who wears linen and stuff that is super expensive and inaccessible., Many users push back against some of the accusations Depop has faced. How the Depop generation thinks Gen Z, the next wave of luxury consumers, are a fluid generation who crave flexibility and think secondhand clothes are cool, according to new research by Depop, produced in collaboration with consultancy Bain. "Thrifting as a culture has grown immensely and its kind of diluted the whole beauty of finding treasures., But upcycling does more than just restock wardrobes in a timely fashion. Keeping clothes that already exist passing from person to person. Inflation Is Rising. Please enter your first and last names, billing addresses, and tap Next.. Affirm is a fintech company founded by Max Levchin in 2012. Even before that, charity shops put out only a fraction of their wares at any time, according to Portiere, which meant many of the clothes werent actually seen. The Vans x Depop six-piece capsule collection, including both footwear and apparel, was thoughtfully designed with artists Jessica Luostarinen, LeiMai LeMaow, Connor Williams and Yuki Haze. Lets get started right away. Depop grew from 50,000 to 5 million subscribers and 100 million in gross retail volume (GMV) under Reistrups leadership. The transaction is expected to close in Q3 2021, pending regulatory approval in the U.S. and U.K. and other closing conditions. Generate Shipping Labels on Depop: . You simply need to create a free Depop account, list your products, deliver them, and collect payments. A Stuffed Toy Shows Why, The 25 Defining Works of the Black Renaissance. Etsy is currently trying to acquire the app for $1.625 billion, thanks to 90 percent of Depop's users being under age . Developed and launched Now/Next, a programme focused on supporting and accelerating the sustainable efforts of our community. Depop's latest research reveals shopping secondhand reduces the demand for buying new, September 21, 2022 (New York) - Community-powered fashion marketplace, Depop, has announced its second instalment of the Now / Next series: A program dedicated to developing the skills of young entrepreneurs and sellers on Depop taking them from where they are now to where they want to go next. Depops meteoric rise eventually led Etsy to purchase 100% of Depop for $1.625 billion (mainly in cash). became certified as a climate neutral company. like many others the pandemic has had a turbulent effect on my finances, but depop was a giving me some sort of income despite depop ( who take 10% of whatever you make + pay pal . Institutions celebrating all of us, not just some of us. Depop is a great place to find vintage and vintage-inspired sets. According to Beauhurst, founder Beckerman and CEO Raga owned 4% of the company before the transaction. The letter F. An envelope. Sign up for Depop at signup.depop.com by entering your phone number and clicking Send code. Texas Fever gives light to a new wave of creative entrepreneurs that are shifting the pendulum and redefining what style is globally. Work Is All Gen Z Knows. You must connect your PayPal account to Depop after creating an account before you can begin collecting payments. So while you are getting a commercial rate shipping with Depop, you are not getting the cheapest possible rate. The program has been renewed following the success of last years group of sellers, including Forbes 30 under 30 Josephine Phillips and Cierra Boyd who will be starring in HBO Maxs The Hype .. Lights and cameras take up most of the space. Write to Eliana Dockterman at eliana.dockterman@time.com. . Etsy acquired the Depop for $1.625 billion in June 2021. 02 June 2021. Depop, the fashion marketplace app with the cult Gen-Z following, to open a physical retail space in London at Selfridges. "Annual Revenue and Gross Merchandise Volume (Gmv) of Depop from 2019 to 2021 (in Million U.S. Fruit of the Loom tag. In November 2021, we went one step further and. Create an account by clicking the Create Account button. Youve finished the first step! Currently, you are using a shared account. 7. Thrift haul posts cannot have more than 3 photos, and cannot include collages or modeled photos. Creating an account is easy if you follow these steps: Thats it! Online marketplace Etsy announced Wednesday it is expanding into the booming clothing resale space by acquiring Gen Z-focused reseller Depop for $1.63 billion. These top Depop sellers make as much as $10,000 a month. Richard Quinn and Vans subsequently collaborated with him. But several people I spoke to could not even ballpark their profits, despite selling on Depop for more than a year. The Re/Sourced collection launches on October 22, 2019 and will be accompanied by a digital and in-store campaign that embraces Ralph Lauren's timeless style through the lens of the Depop community. But Facebook now has 2.89 billion users and is worth $1 trillion. Its been called out repeatedly over the years by those who say its algorithm chooses mostly cisgender white women to feature on its Explore page. The power of secondhand: how resale slows consumption, Meet the Six Sellers from Depops Latest Now / Next Initiative, Maria Raga Stepping Down as Depops Chief Executive Officer, Introducing EcoEnclose + Depop packaging in the US, Year One: Driving forward our vision for a new fashion system, Introducing our 2021 Gender and Ethnicity Pay Gap Report, Depop achieves climate neutral certification, HURR joins Depop to offer pre-rented styles, Depop and Bain & Company outline Gen Z paradigm shift, Futureproof: How Gen Zs empathy, awareness and fluidity are transforming business as usual, Our commitment to supporting the API+ Community starts by listening, adidas Originals partners with Depop to launch the new era of Stan Smith with Style Reworked, Depop Named to Fast Companys Annual List of the Worlds Most Innovative Companies for 2021, CEO Maria Raga named to 2021 TIME100 NEXT LIST, Depop announces its partnership with Black in Fashion Council, Depop introduces a vision for a new fashion system, Update on our commitment to the Black community, Depop taps its community to design a capsule collection with Vans, Richard Quinn partners with Depop to launch new collection, Megan Thee Stallion celebrates texan style with Depop, Depop and Cartoon Network Host Slumpy Kev's Art Basel Debut, Ralph Lauren and Depop launch "Re/Sourced". Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Etsy, the online marketplace for crafts and vintage items, is buying second-hand fashion app Depop to attract younger users. Statista. FanDuel Business Model | How Does FanDuel Make Money? Honestly, I dont want to do Depop forever because it takes 10%, she says. Gen Z is now complaining that millennials are ruining TikTok. The original version of this story misstated how many of Depops users are under the age of 26. People supporting people. Whether youre a complete newbie or not, well show you exactly how to sell on Depop step by step with a brand new account. To send a full refund, follow the steps for Full refund. Diversity has always been fundamental to Depop but it hasn't been represented fully on our platform and we're changing that. Then you can access your favorite statistics via the star in the header. Submissions should come only from actors, their parent/legal guardian or casting agency. If this is the case, you may have thought about selling on Depop. So thats a lot of opportunity to grow. But apps also tend to get less cool as they get popular. But the company has also faced criticism as its higher-income sellers have raided thrift stores for items to resell on Depop, depriving people who actually need to buy secondhand of a robust selection. Depop investors include HV Capital, Creandum, Octopus Ventures, General Atlantic, Balderton Capital, and Klarna founder Sebastian Siemiatkowski. Please create an employee account to be able to mark statistics as favorites. Its sales jumped 80% from 2017 to 2020, when the overall resale market grew just 40%. Accessed March 05, 2023. https://www.statista.com/statistics/1337127/depop-revenue-and-gross-merchandise-volume/, Business of Apps. Over the past year, the app has become the focus of a debate over gentrification in thrifting. A trend may last only a few months, and Depops success during the pandemic was, in part, a logistical victory. Read More: Remote Work Is All Gen Z Knows. Depop deducts 10% of the purchase price (including shipping costs) once an item sells. An curved arrow pointing right. Continued to pay a living wage across all our territories and obtained living wage certification in the UK, including all our direct contractors and providers of outsourced services (i.e. She comes from what she describes as a humble background in France and says she wanted to work on sustainability because low-income people across the world are the ones most affected by climate change. You have reached your limit of free articles. Depop, the community-powered marketplace app to buy and sell unique fashion, shares its year one progress on its first set of commitments to reshape fashion consumption. Additionally, customers and sellers can interact with one another within the app. Nowadays, search enough corners of that community, and you can find incredibly narrow categories, like cottagecore or dark academia, recent trends propelled by viral videos during the pandemic of moody-looking girls sitting around cottages and university libraries. Ralph Lauren and Depop, the UK-based fashion marketplace app with the cult Gen-Z following, have announced a collaboration to launch "Re/Sourced", a curated collection of vintage product, sourced by Depop sellers. This report is the product of extensive quantitative and qualitative research including: An October 2020 survey of 2,167 Depop users on sustainability-related topics. Depop, which allows members to set up online shops and buy and sell clothes, offers tens of millions of items at a relatively low price point and every niche you can imagine, whether youre into clown wear, which looks exactly like what it sounds like, or vintage 2000s fashion, a depressing category discovery for anyone over the age of 30. Depop and Bain & Company have collaborated on a first of its kind report on Gen Z.Futureproof: How Gen Zs empathy, awareness and fluidity are transforming business as usualdetails unique behavioural insights about how this rising consumer cohort is making its mark on fashion today and reshaping the future. TV commercials on iSpot.tv. Depop heavily markets its eco-friendly branding and announced plans to obtain the Climate Neutral labelwhich involves purchasing verified carbon credits to retroactively offset all sellers shipping emissions since January 2020from South Pole, a climate-solutions consultancy, by the end of 2021. June 03, 2021 10:06 am EDT. Depop allows you to list items for free. 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. Etsy acquired Depop for $1.625 billion (mostly cash, some stock). In this episode of . Etsy acquired the Depop for $1.625 billion in June 2021. Depop raised a further 1 million in October. Depop was founded in 2011 and has since become one of the most well-known fashion marketplaces. GOAL: Power Depop with renewable energy STATUS: On track In 2021, 87% of our total office energy use was powered by renewables (89% for controlled offices). Instead, H-Farm Ventures agreed to provide him with 1 million in seed capital to develop the actual product. Trends come and go in fashion, but Depop seems to have recognized what the e-commerce industry as a whole has missed: its not just about the clothes, its about the experience. Affirm Business Model | How Does Affirm Make Money? Since then, growth hasnt been quite as steady, although the resale market in the U.S. is still projected to hit $64 billion by 2024, according to GlobalData. Have questions about this ad or our catalog? Show publisher information Were about to guide you on how to buy, sell, and discover clothing in the modern era if you havent already. Available: https://www.statista.com/statistics/1337127/depop-revenue-and-gross-merchandise-volume/, Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021, Available to download in PNG, PDF, XLS format, Recommerce market value in the United States 2019-2025, Top 100 international marketplace types in the EU 2021, Online C2C commerce penetration in European countries 2021, Share of China's online retail sales 2022, by type, Online C2C market size in Japan FY 2016-2021, Revenue and gross merchandise volume of fashion marketplace Depop 2019-2021, ebay.com traffic distribution in 2022, by device, Most downloaded C2C shopping apps worldwide 2022, eBay app downloads per month worldwide 2020-2022, Vinted app downloads per month worldwide 2020-2022, Mercado Libre app monthly downloads in Latin America 2020-2022, Leading online classifieds worldwide 2022, by market cap, CAGR of leading online classifieds worldwide 2020-2022, EV/EBITDA of leading online classifieds worldwide 2021-2023, Leading classified websites worldwide 2022, by visitors, Leading classified websites worldwide 2022, by pages per visit, Bounce rate of leading classified websites, Classified websites' average visit duration worldwide 2022, Consumers who bought and sold secondhand items 2022, by country, Preference for online stores with a direct connection to sellers 2021, Impact of inflation on recommerce usage in the U.S. 2022, Reasons to use recommerce in the U.S. 2022, Online C2C e-commerce penetration in the European Union 2007-2021, Importance of C2C sales for sellers' income in Russia 2022, Sales share in C2C market in Russia 2022, by product category, Frequency of using re-commerce platforms in China 2021, Leading C2C e-commerce sites Singapore 2022 by monthly visits, Pinduoduo's annual revenue 2017-2021, by segment, Leading C2C e-commerce sites Thailand Q3 2021, by monthly visits, Users, buyers, and sellers on Depop 2019-2021, Depop app monthly active users in the UK 2018-2021, Depop app monthly downloads in the UK 2018-2021, Online C2C e-commerce penetration in the Netherlands 2005-2021, Online C2C e-commerce penetration in Belgium 2006-2021, Online C2C e-commerce penetration in Finland 2011-2021, Online C2C e-commerce penetration in Czechia 2006-2022, Popular cosmetics bought via re-commerce platforms in Japan 2021, B2C & C2C online sales revenue in Argentina 2014-2021, Online C2C e-commerce penetration in Hungary 2005-2021, Online C2C e-commerce penetration in Italy 2005-2020, Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021 (in million U.S. dollars), Find your information in our database containing over 20,000 reports. Beckerman had already migrated to London at that point, citing the British capitals promise of increased access to talent and financing. Depop ranks 405th among Marketplace sites. Furthermore, the company has approximately 1,000 workers in its London, New York, and Manchester offices. PayPal is linked to your Depop account. Today HURR, Europes leading wardrobe rental platform arrives exclusively on Depop, the community-powered marketplace app to buy and sell unique fashion. Though we have already held sessions with Top Sellers from underrepresented communities in the US to consult on decisions that affect our community at large, in 2022, we will conduct a stakeholder engagement exercise aimed at understanding the most important ESG issues for our stakeholders related to our business, in order to inform the next iteration of our sustainability plan. In 2021, we expanded the scope of our GHG inventory to include seller packaging and end user energy use. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. Men's Black T-shirt. She had a sneaker habit to fund and a dream of buying and renovating a school bus and living in it for several years. Dollars). Were going to ask you to buy within planetary boundaries. Silverman says his daughter, who is 16, keeps only 10 shirts in her wardrobe. 6. One of those efforts led to the co-founding of RETROSUPERFUTURE (RSF), an eyewear brand aimed at an affluent customer base. Consequently, to sell on Depop, you must connect your PayPal account. Upon logging in, click on Sell in the top right corner. Therefore, the seller needs to pay the platform and transaction fee if his/her product is successfully sold. But this means Etsy is acquiring Depop at a price-to-sales (P/S) ratio over 23. Adam says shes been thrifting since middle school and has seen prices go up. There are lots of full-time Depop sellers and resellers on our platform who make a consistent living from selling all sorts of preowned products in their online shops. Given that you will be using their payment system, the PayPal transaction fee takes up 2.9% + $0.30 in the USA while 2.9% + 0.30 in the UK. What is Depop? Service 85. Are you interested in testing our business solutions? Before you start selling on Depop, there are a few things to consider, like the Depop selling and listing fees, to help you lay down a firm foundation for your future profits. The stores can either handle incoming orders independently or work with the work fulfillment team at Depop. In 2020, we began by offsetting our shipping emissions, targeting the biggest driver of our carbon footprint. The crux of the :60 above is about how . Go to your profile, then tap "Sold Items," then click the item sold. Or in the words of one of my (millennial) friends, Etsy is for millennial women knitting Harry Potter-themed things., Lindsay Street, a 33-year-old in Baltimore who quit her job during the pandemic to sell items on both Depop and Etsy, says Depop is the more laid-back and enjoyable experience. Signing up for a Depop account is the first step. Through their social influence, they may become influencers and in some cases, full-time sellers on the site. Hi there, I'm Madhav, and I'm thrilled to be able to share my thoughts and experiences with you through my writing. Depop has continued to grow enormously despite a few setbacks. Others modify the clothes, painting them, mending them or making them smaller before selling them and turning a profit. 8. Depop was hardly the only upcycling company that saw success in 2020 (upcycling, for those unfamiliar with the term, is just a fancy way of saying resale), nor was its upward trajectory strictly attributable to the pandemic. These stores are located in New York City and Los Angeles. It's a space where style and self-expression thrive naturally. What Happens When Parents Crash the Party. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Etsy is kind of for everyone, Boney says. Depop continued to grow tremendously over the next three years, primarily due to word-of-mouth and social sharing. According to recent data, users aged . Depop - buy, sell, discover unique fashion Log in Menswear Womenswear Jewellery Beauty More Brands Top searches Find your style Shop the biggest brands you know and love.