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In June 2021, online marketplace Etsy announced plans to acquire Depop for $1.6 billion. The move was yet another sign of growing interest in the burgeoning fashion resale market, which according to BoF Insights, is now worth $130 billion globally.
Chief executive Maria Raga describes Depop as “combining elements from Instagram and eBay.” The platform is skewed towards lower-priced product exchange between younger traders, almost all of them 26 and under. Raga believes that it’s Depop’s community aspect — facilitating not just online transactions, but also person to person interactions — that attracts these all-important Gen-Z shoppers.
Raga’s insights are featured in the fifth episode of The BoF Show, now streaming on Bloomberg Quicktake.
Here, we share the full interview, exclusively on The BoF Podcast.
Watch the fifth episode of The BoF Show, “Resale: Inside the $130 Billion Secondhand Fashion Market”