Wonderful to see our portfolio company, Depop, featured in Fast Company’s list of ‘The 10 most innovative retail companies of 2021’
Here Fast Company takes a deep-dive into Depop’s success and how the company is cultivating the next generation of sustainable designers.
“Depop has become the standout resale marketplace for GenZ, who make up 90% of the platform’s 21 million global users. The platform attracts these consumers because of its interface, which feels like a social networking platform: Users can follow specific shops on their main feed, then interact with other users by commenting and liking their posts. The direct connection between buyer and seller creates an instant feedback, which increases the speed of a transaction and also allows sellers to customize products for their buyers. Depop also caters to younger consumers thanks to the price point of goods on the site. Designers such as Anna Sui, Rodarte, Christopher Raeburn, and Richard Quinn are actively jumping on the platform to sell and interact with Gen Z consumers. During the pandemic, the platform saw triple-digit growth, as sellers had more time to market their products and buyers wanted to save money by buying secondhand goods. At any given moment, there are more than 25 million items on the app, and Depop takes a 10% cut of sales transactions.”
Read more: Fast Company
Source: Fast Company
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