In some cases, forward-looking statements can be identified by terms such as anticipate, believe, could, enable, estimate, expect, goal, intend, may, outlook, plan, potential, target, will, or similar expressions and derivative forms and/or the negatives of those words. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Moreover, we operate in a very competitive and rapidly changing environment. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Got a confidential news tip? ", 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. 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. This is a fluid generation defying categorisation in every sense, Levato says. Sr. Director of Investor Relations, Patricia Cruz Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. --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. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. When expanded it provides a list of search options that will switch the search inputs to match the current selection. VP of Investor Relations, Jessica Schmidt 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. 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. 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. 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. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". In an age of financial uncertainty, young people are taking finances into their own hands. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Depop is a reliable website that allows you to buy and sell items. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. Depop promises not to share your details with third parties. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. As a mobile app, it is available on iOS and Android platforms. If you experience any issues with this process, please contact us for further assistance. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. I agree to receive your newsletter. We disclaim any obligation to update forward-looking statements. A Division of NBCUniversal. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. When it comes to newness, this generation has a new lens through which they see new.. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. All Rights Reserved. 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). 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 . You have successfully joined our subscriber list. How to sell. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. ETSY. Whatever you're into, find the item and the seller for you on Depop. r/Depop omfgf i thought this girl had her boob out in the 1st pic and ive been debating whether or not to tell her for like an hour (in case it was an accident) and just realised it was her ELBOW 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. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. The stock was up about 6.7% Wednesday afternoon. 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. This extends to how these generations view life and society, but also fashion. I always say we owe ourselves authenticity. to incorporate the statistic into your presentation at any time. However, while both apps provide practically the same services, they differ in a few key areas. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. The first difference is the market available. Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. SourceForge ranks the best alternatives to Depop in 2022. Depop's CEO Maria Raga said, "We're on an incredible journey building Depop into a place where the next generation comes to explore unique fashion and be part of a community that's changing the way we shop. To download the Depop mobile app, go to Google Play and click download. BROOKLYN, NY 11201 United States. Depop is planning to run in-person events for later this year, similar to its 2019 Depop live series in New York and London, which brought together sellers and performers to create physical resale spaces alongside an events programme. The default refresh interval is a random number between 1 and 3 seconds. 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. 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. <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. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. The only pricey item I've found is a pantsuit that cost around $20. The company, founded by Simon Beckerman in 2011, is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney, with approximately 400 employees dedicated to its mission of building the world's most diverse progressive home of fashion, that's kinder on the planet and kinder to people. Our company was founded in 2005 and is headquartered in Brooklyn, New York. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. Currently, you are using a shared account. Please do not hesitate to contact me. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. 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. November 8, 2021. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. Data is a real-time snapshot *Data is delayed at least 15 minutes. Please create an employee account to be able to mark statistics as favorites. 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. Resale has emerged as a popular side-hustle; Depop and social media allow Gen Z to cultivate their businesses in a non-traditional and deeply personal way. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. 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. Now They're Graduating", "Artefact In conversation with | Depop founder Simon Beckerman", "TechTalk con Simon Beckerman, Riccardo Donadon e Paolo Barberis su Depop, la startup diventata unicorno", "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market", "The Entrepreneur: Runar Reistrup, Depop", "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users", "Etsy Buys Depop, Fashion Resale Site Popular With Gen Z, for $1.6 Billion", "Etsy is buying the fashion resale app Depop for $1.6 billion", "Etsy is acquiring UK-based social selling site Depop for $1.625B in a mostly cash deal", "All Those Millennials Can't Be Wrong: Why Depop Just Might Change the Way You Shop", "Why Teens Are Selling Clothes Out of Their Closets", "Etsy targets Gen Z shoppers with $1.6 billion Depop acquisition", "9 Celebs With Depop: The Millennial Thrift Shop", "United States B2C Ecommerce Market Report 2022: Market is Expected to Grow by 11.80% to Reach $1,574.5 Billion in 2022 - Forecasts to 2026", "Depop Is the New Instagram but Not in a Good Way", "Depop: Can pre-loved clothes make fast fashion sustainable? Please read rules before posting. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Who we are. 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. 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. Test out different poses. "To some degree, we have a closer relationship with Gen Z . Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. Why do we think MyUS is the best? Dont expect easy answers. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. Depop. Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. However, we have a pretty simple solution that gets around this restriction. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. The company will send a six-digit code that you can use to verify your account. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. As of March 31, 2021, Etsy had approximately $2.0 billion in total liquidity consisting of $1.8B in cash, cash equivalents and short and long term investments on its balance sheet and an undrawn $200 million revolving credit facility. 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. my buyer. Does the Depop online store ship items overseas to Europe? 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. Discover unique fashion. Available on Android and iOS (free) Another great app for the starving student! Unfortunately, yes. That way youll receive all of your items together instead of one at a time. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. eBay is an e-commerce platform, at first only providing customer-to-customer auction services, expanding into business-to-consumer shortly afterwards. And forget all about contacting their support. Bank of America reveals the winning market share gainers with more room to run, Goldman Sachs upgrades this internet of things stock which it sees surging 60%, JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. We disclaim any obligation to update forward-looking statements, except as required by law. 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. Depop, a social shopping platform based in the United Kingdom, has been experiencing a reduction in monthly app downloads. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? While creating a Depop account, your phone number will be required. 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. If y'all remember I posted how I got banned for hashtags that were FINE. In 2021, Depop was acquired by Etsy for $1.6 billion. Subscribe to receive weekly Side Hustle recommendations. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. Sign up to our newsletter for a truly global perspective on the fashion industry. Depop is not available in some countries from summer (I cant remember exact month when this happened). It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. As soon as this statistic is updated, you will immediately be notified via e-mail. Depop should know. It was established in 2011 by Simon Bekerman and now has over 15 million . It does come with fees and higher shipping costs. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. Up to 140,000 new listings every day. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. We love Depop's rapidly growing GMS and loyal and engaged customer base, excellent user engagement and unit economics, opportunities to expand value added seller services, clear path for geographic expansion, and highly scalable, 'capital light' operating model. Algeria. Vinted and Depop have different payment policies. An overwhelming 90 per cent of its active users are under the age of 25. 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. As for Vinted, they have a buyer's protection feature. Get Potential buyers to make bids for the item and agree on the final price. The Depop plan sets out a series of targets to hit by the end of 2021. [21] The platform has also been criticized by its users for picking predominantly thin models wearing straight size clothing to showcase on its Explore page, which some have described as sizeist.[22][19]. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. Investor Relations Contact: Etsy, Deb Wasser, Vice President, Investor Relations and ESG Engagement: dwasser@etsy.comor Etsy, Gabe Ratcliff, Director, Investor Relations: gratcliff@etsy.com, Media Relations Contact:Etsy, Kelly Clausen, Senior Director, Corporate Communications: press@etsy.com, Cautionary Statement Regarding Forward-Looking Statements. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. 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. Expands our TAM in a large and fast-growing market, category or geography: Depop is expected to extend Etsy's market opportunity in the high frequency apparel sector, specifically in the fast-growing resale space. More so, what you earn on Swappa depends on the item you are selling and its condition. 12.9% of the sale price or lower, plus $0.30 per order. Etsy has sufficient available liquidity to fund the acquisition. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. 16.6M+ items are available for sale on Depop. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Depop is a place for anyone to discover and . 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. ", Airnow, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) Statista, https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/ (last visited March 04, 2023), Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph], Airnow, November 8, 2021.

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