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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. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. That way youll receive all of your items together instead of one at a time. You can unsubscribe anytime. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Available everywhere. [4] Its headquarters were moved to London in 2012. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. 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. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. You can then. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. To receive the Vogue Business newsletter, sign up here. Today, Depop is a place where millions of users come to celebrate their style and discover culture. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. We want to hear from you. 16.6M+ items are available for sale on Depop. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Our company was founded in 2005 and is headquartered in Brooklyn, New York. However, we have a pretty simple solution that gets around this restriction. Users can buy and sell clothing, accessories, and beauty products. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. You can only download this statistic as a Premium user. 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. Once the package is received, the freight forwarder will ship the package directly to you in Europe. Shop now Sell your way What are the Other Ways to Make Money on Depop? The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. 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. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. 22. Statista. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. You can sign up for additional alert options at any time. Forward-looking statements include all statements that are not historical facts. It also gives the online marketplace a bigger footprint in fashion resale. . $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. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. It allows users to buy and sell items, most of which are used . 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 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. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. Take up to four photos. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Take a picture of the item, describe it, set a price for it, and post. 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. Countries. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. 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. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. A sub for discussing all things Depop. 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. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. Etsy expects to finalize the deal by the third quarter of 2021. "Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale," Silverman said in a statement Wednesday. Airnow. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. 90% of Depop's active users are under the age of 26.Depop. 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. I always say we owe ourselves authenticity. With roughly 30 million registered users across nearly 150 countries,. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. 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. Get paid fast when your item sells. Subscribe to receive weekly Side Hustle recommendations. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Make sure your clothing is the focal point of the picture by keeping the . Expands our TAM in a large and fast-growing market, Well positioned to benefit from Etsy's expertise to, http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Like Depop, Decluttr is free to download and use. With over 26m 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. The app is currently available only in European countries, but it's expected to soon be available in the US too. 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. While creating a Depop account, your phone number will be required. 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.<br>The company was founded . New risks emerge from time to time. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. By Lisa Lacy. Depop is a reliable website that allows you to buy and sell items. To answer that, we must take a closer look at the two. Both apps also target slightly different audiences. This presentation contains forward-looking statements within the meaning of the federal securities laws. 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. Users can pay for items using PayPal. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Therefore, as a seller on Vinted, the buyers will expect you to offer a lower price for your products, as they are the ones covering all the fees. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. 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. A copy of the presentation that will be covered on the conference call will also be posted to our website. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. Forward-looking statements include statements related to our potential addressable market,the potential benefits of the acquisition of Depop, expected impact of the acquisition of Depop on Etsy's future financial performance and the potential impact on Etsy's consolidated financial results, the anticipated timing of the closing of the acquisition of Depop, the anticipated impact of applying Etsy's expertise to Depop's business and the potential of Depop's business. . 12.9% of the sale price or lower, plus $0.30 per order. 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. Moreover, we operate in a very competitive and rapidly changing environment. This is a fluid generation defying categorisation in every sense, Levato says. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. For Semple, physical events remain hugely relevant. Bahrain. Get full access to all features within our Business Solutions. According to positive reviewers, Depop allowed them to start their small business. $1 Billion made by the Depop community to date. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. [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. Alternatives to Depop. 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. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. OLIO. 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. She has about 40,000 followers, and selling clothes online has become a full-time job for her. However, while both apps provide practically the same services, they differ in a few key areas. 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. Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. Founded in 2011, Depop has its headquarters in London and offices in Manchester, New York, Los Angeles and Sydney with 400 employees dedicated to helping build a new fashion system that's kinder. While no seller likes to pay fees, they are integral to online selling. Enter your username, password, and country, Connect your Depop account to your PayPal address, No limit to to the type of products you can sell, 2 days to ship the item after getting paid, High user traffic over 187 million users, Promote your listing from as little as 1%. Kasera has had a long career in personal finance having spent over 5 years working as a financial advisor directly with CEOs, business owners, and entrepreneurs. Unfortunately, Depop doesnt ship directly to Europe. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. Vinted is more transactional. From an enthusiasm for secondhand clothes to a sincere embrace of cultural fluidity, Generation Z are radically different to older demographic groups, according to wide-ranging research on their behaviours by Depop, the resale platform. The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. 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. The site . The app is also meant for buyers looking for items they can buy. Some 75 per cent of Depop sellers also buy from the platform, an ecosystem that allows them to straddle the worlds of the consumer and of business however they wish, says Semple. Dont expect easy answers. How do you do the magic of taking people on the algorithmically understood journey of things they might be looking for, but then continually inject inspiration and surprise?. Depop boasts approximately 30 million registered users across 150 countries. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. These are called 'Shop Policies,' stating whether you accept returns as a seller. Depop Summary. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. Deb Wasser Items are usually secondhand or homemade. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Depop, which first emerged from an Italian tech incubator in 2011, then established its headquarters in London, is a dark horse in the fashion ecom wars. GET SERVICE INSTANTLY . [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. statistic alerts) please log in with your personal account. 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 Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Place your item in a box or shipping envelope, available at office supply stores or the post office. The app has over 10 million users and is available in over 100 countries. As of today, Vinted is available in 15 countries. 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries.