Closing by July
a beautiful story of innovation and human – says Riccardo Donadon, president and founder of H-Farm -. Simon came to us, almost by chance, on the advice of his mother. He immediately proved to be a humble person and full of ideas. I remember they were thinking about creating an Instagram with the ‘buy’ button. A simple but winning idea, so much so that it has bewitched the giant Etsy. The operation is expected to close in July and Depop’s management will continue its work in the coming months. We are talking about two realities that together can do a lot for the fashion sector. For us the ambition to replicate this success with some of our students, he concludes.
That the platform for the sale of second-hand bags, shoes and clothes was promising, moreover, was also evident by looking at the numbers. In 2020 Depop – originally Garage in honor of neighborhood markets – recorded revenues of $ 70 million, up more than 100%. With 30 million users in more than 150 countries, the app is the reign of Generation Z: 90% of the community is under the age of 26. Among them stylists, designers, creatives, vintage lovers or sneaker collectors. But also influencers like Chiara Ferragni or models like Bianca Balti. One billion items were sold via Depop last year. Over the years the platform has partnered with Adidas, Benetton and Ralph Lauren. A sign that even the big names in fashion have understood where the wind blows. Just one fact: for the Circular Fashion Report 2020 the circular fashion market has a potential value of 5 trillion.