With "it" girls including Sabrina Carpenter recently sporting Depop finds to major events, the peer-to-peer resale e-tailer is decidedly having a moment — but its growth hasn't been sudden. According to the 13-year-old company, which was acquired by Etsy in 2021, its registered user base grew 17% to 35 million in 2023. The year prior, Kruti Patel Goyal joined the company as CEO, moving over from its parent company. "I spent over 11 years of my career at Etsy. I started in 2011 when the company was much smaller and private. And over the years, I worked my way around and through the business. … I got to learn the marketplace inside and out," Patel Goyal said on the Glossy Podcast. "About a year and a half after the acquisition, I was asked to come over and run Depop after the former CEO decided to step down. Looking back, it makes sense why my background was such a good fit for Depop." Along with Patel Goyal’s expertise, Depop has recently benefited from Gen Z’s conscientious shopping habits.  “This current young generation cares more than any generation before them about the impact of their choices on the world around them,” Patel Goyal said. “That's a big factor in what's driving resale.”  Also on the podcast, Patel Goyal discussed Depop’s valuable Gen-Z shopper base and strong community, and its plan to continue to stand out as resale booms. 

As the co-founder and CEO of 20-year-old luxury fashion resale company Fashionphile, Ben Hemminger has seen the business from its early-stage scrappiness to clearing the $400 million in revenue mark in 2021. Hemminger told Glossy that the company has been profitable since its inception, and resale's growing popularity has undoubtedly helped. According to Statista, the global secondhand market will be worth at least $100 billion by 2026. With new-to-market competitors cashing in on consumers' increased demand for resale accessories and apparel, Fashionphile is now shifting its focus to acquire new customers and maintain relevancy in the marketplace. Last year, the company announced the acquisition of Canadian-based resale company LXRandCo, Inc., and in March, it purchased the assets of wholesale distributor Two Authenticators Inc. Both moves signal Fashionphile's new focus on B2B wholesale. On this week’s episode of the Glossy Podcast, Ben Hemminger discusses how Fashionphile is evolving its business model to compete with new competitors and what the recent acquisitions mean for the company's future.