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Etsy to Purchase Fashion Reseller Depop

Gen Z darling posted 100 percent year-over-year growth

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Online marketplace Etsy (Brooklyn, N.Y.) will acquire Depop, a resale fashion market popular with Gen Z, for $1.6 billion, according to Business of Fashion. Market research firm GlobalData estimates the fashion resale market to be worth $51 billion in 2023.

Depop has demonstrated 100 percent year-over-year growth with revenues of $70 million in 2020. The company will reportedly remain based in London, and its current leadership team is expected to remain in place.

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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