Etsy Launching Craft Supplies Business

(RTTNews) - Etsy, the marketplace for handmade goods, Wednesday announced the launch of Etsy Studio, an online marketplace exclusively for craft supplies.

Etsy Studio, which will be launched in spring, will provide craft supplies and original DIY projects and tutorials alongside, which will help Etsy customers to create their own projects. The marketplace plans to launch with nearly 8 million items.

The craft supply market is said to be about $44 billion in the US alone. Etsy claims that there are active Etsy sellers in 99% of the counties in the US and almost every country in the world.

The craft-supplies marketplace will have a listing fee, same as the fees in place for sellers on the Etsy platform.