June 8 (Reuters) – The UK competition regulator on Monday launched a probe into eBay’s $1.2 billion purchase of Gen Z-focused fashion resale platform Depop from Etsy. The deal was announced earlier this year and is expected to help Etsy double down on its core handmade and vintage goods marketplace in pursuit of a turnaround. […]
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UK competition watchdog launches probe into eBay’s purchase of Depop
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June 8 (Reuters) – The UK competition regulator on Monday launched a probe into eBay’s $1.2 billion purchase of Gen Z-focused fashion resale platform Depop from Etsy.
The deal was announced earlier this year and is expected to help Etsy double down on its core handmade and vintage goods marketplace in pursuit of a turnaround.
The firm has been grappling with softer demand and strong competition from online e-commerce platforms such as Amazon.
Etsy and ebay did not immediately respond to Reuters’ requests for comment.
(Reporting by Prerna Bedi and Zaheer Kachwala in Bengaluru; Editing by Sonia Cheema)