Fashion resale marketplace Depop has announced the appointment of Peter Semple as CEO, effective 1 August.
Following what the business described as a “successful tenure as interim CEO” – a position Semple has held since May – Depop now has its replacement for Kruti Patel Goyal, who took the president & chief growth officer job at its parent company Etsy earlier this year.
Etsy acquired Depop in a $1.6 billion deal in June 2021.
Commenting on the appointment, Etsy CEO Josh Silverman said: “As a leading resale platform, Depop is at the heart of the circular fashion movement and has seen remarkable momentum in recent years.
“During Peter’s time as interim CEO, he demonstrated not only a proven ability to lead and inspire teams, but showed his dedication to the Depop mission and its community. He brings a strong understanding of Depop’s position in culture and resale and we couldn’t be more confident in his vision for the future.”
Semple, who has now been at Depop for six years, remarked: “My journey here, from building our brand as chief marketing officer (CMO) to guiding the company as interim CEO, has been a privilege.
“Together with our incredible team, I am committed to accelerating our mission to make fashion circular.”
Depop’s statement announcing the appointment said Semple was responsible for building the “strategic vision” of Depop in his role as CMO, adding he led the “global creative engine that fuelled the company’s growth and cultural relevance”.
According to a new study by the Centre for Economics Business Research, commissioned by Amazon, the UK online second-hand market is now valued at £4.3 billion a year – but it is expected to grow to £4.8 billion in 2025.
The report published in July showed two-thirds of Brits bought second-hand goods online in 2024.
Cost-of-living pressures, wider availability of pre-owned products, and heightened consideration of environmental issues were the three main reasons cited by consumers when asked what was driving them to by second-hand goods.
Read more about the rise of resale on Green Retail World
[image credit: Depop]
