Etsy buys Depop for €1.3bn 'to tap generation Z young buyers'    

British second-hand fashion resale app Depop was the 10th most visited shopping site among gen Z consumers in the US, according to Etsy, who expect the resale craze to continue long after the recovery from the pandemic.

Etsy is buying Depop, the British second-hand fashion resale app, for $1.6bn (€1.3bn) to tap into the fast-growing trend of generation Z young people reselling clothes online.

Josh Silverman, the chief executive of Brooklyn-based Etsy, said: “We are simply thrilled to be adding Depop – what we believe to be the resale home for gen Z consumers – to the Etsy family.”