Newscasts - Etsy taps insider as CEO, forecasts softer core sales amid tariff woes

Etsy

29/10/2025 17:35

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Source: 'Reuters - Business videos'

Description: Online marketplace Etsy named insider Kruti Patel Goyal as its new chief executive officer on Wednesday, succeeding Josh Silverman, who has spent over eight years in the role.

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Video Transcript:

Etsy is making a major leadership change. The online marketplace on Wednesday named Kruti Patel Goyal as its new CEO, replacing Josh Silverman, who will become executive chair. Patel Goyal, currently Etsy's President and Chief Growth Officer, will take over as CEO on January 1. She previously led Depop, the fashion resale platform acquired by Etsy in 2021. But the CEO announcement also came with a mixed earnings report. Etsy shares, while up 40% this year, dropped as much as 10% Wednesday morning after the company issued a weaker‑than‑expected sales forecast for the fourth quarter. The company attributed that to tariff pressures at a time when many online retailers and marketplaces face the brunt of hefty US tariffs on imports, especially those from China and Vietnam, two major suppliers of clothes, shoes, and toys. The removal of duty‑free treatment for low‑cost items from China and Hong Kong has also added strain. Etsy, however, did post quarterly revenue that beat analyst estimates.