- Depop is a social procuring app the place customers purchase and promote secondhand clothes and accessories.
- Based in London with plans to develop its US presence, Depop has minted many a Gen Z entrepreneur.
- Two Depop sellers with greater than 130,000 followers advised Business Insider how they turned their Depop outlets from side hustles to full-time businesses.
- Visit Business Insider’s homepage for extra tales.
Instagram and eBay … meet Depop.
The social procuring app combines an e-commerce market with a photo-grid aesthetic that allows customers to purchase and promote secondhand clothes and accessories.
Launched in Milan in 2011 and now based mostly in London, the app has gained 13 million customers in 147 nations around the globe, Rachel Swidenbank, vp of market at Depop, beforehand advised Business Insider’s Mary Hanbury.
The app has gained a very sturdy foothold amongst Gen Z — based on Swidenbank, 90% of Depop’s customers are underneath the age of 26. “This company is for the next generation,” she mentioned. The firm’s mission is to empower them to disrupt the style trade and provides them the possibility to grow to be entrepreneurs.
In mid-2019, the corporate raised $62 million, which it plans to make use of to develop within the US and triple its person base within the nation. Depop CEO Maria Raga advised Hanbury Depops’ knowledge exhibits that US teenagers are extra entrepreneurially minded than their UK friends, who’re already cashing in huge on the app.
Depop sellers can pull in as a lot as $300,000 a 12 months and have been capable of purchase homes and vehicles earlier than they’ve even reached faculty age, Swidenbank mentioned. Depop takes a minimize of this, making 10% on every transaction.
Business Insider spoke to 2 Depop sellers about how they grew the outlets that started as side hustles. While each remained tight-lipped on particular earnings, they’re now operating their outlets full-time and have cultivated greater than 130,000 followers.
Here’s how they turned their Depop outlets into full-fledged businesses, and their recommendation on how one can obtain the identical.