One year after acquiring online marketplace Depop, Etsy is putting one of its own in charge. Kruti Patel Goyal, currently Etsy’s Chief Product Officer, will become CEO of the global fashion resale marketplace (based in London), effective September 12th.
Depop’s current CEO, Maria Raga, is stepping down to pursue personal ventures, a spokesperson told EcommerceBytes, but she will remain with Depop in an advisory capacity until the end of September to facilitate a smooth transition.
Etsy CEO Josh Silverman said in Wednesday’s press release, “Depop is a highly-relevant and authentic re-commerce brand that we believe is still early in its growth lifecycle. I have no doubt Kruti is the right leader for Depop’s next chapter as we focus on nurturing its passionate community and improving the customer experience. She has guided Etsy through periods of significant transformation, with a proven track record of motivating teams to deliver results and advance our mission.”
At the time of the acquisition last year, Silverman had called Depop the “resale home for Gen Z consumers with a unique offering and highly-engaged user base.” Etsy also owns Reverb and Elo7, and he said last year the four marketplaces had “parallel growth strategies, all sharing similar missions, visions, and values.”
One might wonder if there was a culture clash, given the selection of an Etsy executive to replace Raga, who had led Depop for 8 years. But Raga’s LinkedIn post quashed any such notion. She called Etsy’s CEO an inspiring mentor who gave Depop “the best home we could’ve ever hoped for.”
“Today, I’m proud to say that the Depop community is stronger than ever, and because of this, I feel an incredible sense of peace as I pass the baton to a new leader,” she wrote.
Replacing Goyal as Etsy’s Chief Product Officer is Nick Daniel, Vice President of Product Management, who will join Etsy’s executive team.
Goyal and Daniel will both report to Etsy CEO Josh Silverman.