Etsy buys second-hand clothing app Depop to tap into gen Z

US-based online sales app pays £1bn for marketplace with 30m users, 90% of whom are under 26

Etsy is buying Depop, the British second-hand fashion resale app, for $1.6bn (£1.1bn) to tap into the fast-growing trend of generation Z young people reselling clothes online.

Josh Silverman, the chief executive of Brooklyn-based Etsy, said: “We are simply thrilled to be adding Depop – what we believe to be the resale home for gen Z consumers – to the Etsy family.”

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from Fashion | The Guardian https://ift.tt/3c7a3zh
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