Since launching in Milan in 2011, the app has grown to have 13 million users in 147 countries around the world, according to the company. Some users are making a decent amount of money flipping their clothes and other belongings.
Depop is a social marketplace that offers users an easy way to buy and sell an array of items — from vintage clothing and limited-edition sneakers or sunglasses to books and concert tickets — via its app. It has been described as a mix between eBay and Instagram and would count sites such as ThredUp and Poshmark as its competitors.
"This company is for the next generation," Rachel Swidenbank, vice president of Marketplace at Depop, said in conversation with Business Insider. Then, they also have the chance to sell their own items, which not only gives these clothes a second life but also enables them to make money from it.And it turns out that flipping vintage clothes and sneakers can also be an extremely lucrative business. According to Swidenbank, some Depop sellers can pull in as much as $300,000 a year on the app and have been able to buy houses and cars before they've even reached college age. Depop takes a cut of this, making 10% on each transaction.
It's not just fast-fashion stores that should be concerned. Swidenbank said these shoppers also have a different approach to shopping with household names.