New kids make money with old threads
The Future. Depop is minting some Gen-Zers as entrepreneurs, bringing in enough revenue to pay the bills through a mix of thrifting and self expression. As Depop becomes more popular, top sellers could use the platform to jumpstart their own fashion labels.
The Depop royalty
- For example, Chelsea Aves (17), who has more than 850 items listed on her page, makes around $500-$1,500 a week, which she uses to pay for community college.
- Depop’s senior community-development manager, Mary Findley admitted that case studies like Aves’ are common, with many starting their shops in the middle of the pandemic.
- Makes sense when, out of Depop’s 26 million-strong user base, 90% are under the age of 25.
- Some, like 24-year-old Bella McFadden, have even become millionaires.
Depop reported that the number of items sold on the platform was up 30% last year, bringing in a company revenue of $70 million. That success powered a $1.6 billion acquisition by Etsy. Expect a crossover between the two companies to be in the running.
And even the celebrity class of Gen-Z is taking notice. Olivia Rodrigo opened her own Depop store to sell items from her own closet and from her music videos.