It feels like we've been continuing to have the discussion around sustainable clothing for a couple of years now.
The move away from fast fashion--shops such as Forever 21--has been happening for a couple of years now and younger generations seem more focused on thrifting or buying used clothing.
So, what does this move mean for Etsy?
"We are simply thrilled to be adding Depop—what we believe to be the resale home for Gen Z consumers—to the Etsy family. Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale," said CEO Josh Silverman. "Depop's world-class management team and employees have done a fantastic job nurturing this community and driving organic, authentic growth in a way that aligns well with Etsy's DNA and mission of Keeping Commerce Human."
"We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous 'house of brands' portfolio of individually distinct, and very special, ecommerce brands," he added.
Jeff Marks, senior portfolio analyst with Action Alerts PLUS, gives his thoughts on Etsy.
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