Since its founding in 2011, secondhand clothing marketplace Depop has succeeded in one thing above all else: making circular fashion cool. From preloved mall favorites to vintage and reworked garments, Depop’s inventory has attracted a user base that grew by 17% to around 35 million—predominantly Gen Z and millennial—users in 2023. While smaller than platforms like Poshmark, Depop has fostered cachet with the most eco-conscious generations.
Under CEO Kruti Patel Goyal’s leadership, Depop, a subsidiary of Etsy, last year scrapped its 10% selling fees in the U.K. And users can now shop items associated with emerging trends on the app using AI recommendations. Sales on the platform grew by 9% to $600 million in the 2023 financial year and Patel Goyal says she is focused on scaling up in the longer term.