How fashion marketplace app Depop plans to expand across the globe

Lily Allen is a fan of Depop Picture: PA
Lily Allen is a fan of Depop Picture: PA
0
Have your say

Fashion marketplace app Depop has revealed plans to push further across Europe and into Asia next year as it continues to take the millennial world by storm.

Read more

Exports of Yorkshire bicycles soar

Here's how Tesco plans to impress the City

The UK tech success story - which counts around a third of British 15-24-year-olds as users and boasts pop star Lily Allen among its fans - said it has more countries on the Continent in its sights.
Depop chief executive Maria Raga said Depop will also use some of its recent 62 million US dollar (£50 million) fundraising to expand further across America, which already accounts for around 30% of its revenues and user base.
Sales on the app - which has its headquarters in the UK - surged by 85% in 2018 and impressive double-digit growth is set to be maintained this year, according to the group.
Ms Raga said that as well as fuelling its own success, it is also creating an army of young entrepreneurs.
Some of Depop’s biggest sellers are bringing in more than £300,000 each a year from selling second-hand items on the app.
For some, it has already become a full-time venture.
“One of the things that excites me the most about Depop is the empowering of young people to build a business in an easy way,” said Ms Raga.
She said the most successful Depop sellers have the usual entrepreneurial qualities - “hard working, being passionate” - but are also very good curators and know how to style photos to make sales.
She added: “We’re making it extra easy for them to get the ball rolling and it’s up to them to take it to the next level.
“We’ve got a number of sellers that are making not just a living, but serious business."