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Depop reveals expansion plans

// Depop announces plans to expand across Europe & Asia
// It has over 15 million users

Depop has revealed plans to expand its presence across Europe and Asia next year to continue growth.

The online fashion reseller said it has more countries on its list, with plans to launch in Japan and South Korea in 2020.

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Depop chief executive Maria Raga said the company will use some of its recent $62 million (£50 million) fundraising to expand further across the US, which already accounts for around 30 per cent of its revenues and user base, PA reported.

Meanwhile, sales climbed by 85 per cent in 2018, and growth is expected to be maintained this year.

While the ecommerce still has around 60 per cent of its revenues generated in the UK, it remains set on expanding globally.

Moreover, Depop launched a pop-up store in Selfridges’ flagship department store in early August, marking its first branded pop-up store outside the US.

Since being founded in 2011, Depop has gathered over 15 million users.

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The post Depop reveals expansion plans appeared first on Retail Gazette.



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