Second-hand marketplace Vinted’s expansion, as well as its investment in its logistics and payment businesses, has resulted in a consolidated revenue of €813.4mn – a 36% YOY increase (2023: €596.3mn).
In the past year, Vinted has launched in Croatia, Greece and Ireland. It has also experienced strong growth across its existing categories, as well as newer categories like luxury fashion.
The platform has also responded to members’ interest in buying and selling second-hand goods beyond fashion. The new electronics category enables people to easily make money from their unwanted tech, including speakers, headphones, fitness trackers and laptops. Vinted stressed it will continue to expand its marketplace into more categories and countries.
Furthermore, Vinted Go continued successfully scaling its logistics operations to offer low-cost, convenient shipping to Vinted members via locker and pick-up-drop-off networks. Building on extensive networks in France and the Benelux region, this year Vinted Go is expanding into Spain and Portugal.
The pre-loved platform has also invested into its Vinted Pay offering, which launched its first services in Lithuania. Vinted Pay’s aim is to make transactions on Vinted easier, driving down cost and further strengthening the Vinted ecosystem.
Thomas Plantenga, CEO of Vinted Group said: “This performance is the result of our hard work to deliver products that bring high value for members at the lowest possible cost. We do this by having a relentless focus on cost control, building complex infrastructure ourselves, and innovating to bring new services and solutions at scale. It’s this mix of scale, innovation, cost control that helps us succeed.
“At Vinted we aim to build an ecosystem of businesses that can change the way society consumes. Given the potential size of the market, we know there’s a huge opportunity ahead and lots of work to be done to get there. We see our current position as a solid foundation to build this future on, and we’ll continue to learn and improve. We are at the start of the journey and aiming high.”
Read a double-page profile on Vinted in the ChannelX Marketplace report. It is one of 27 profiles in this report, with the leading marketplaces in Europe split by sector, each featuring a detailed profile of their origin, development and USPs, augmented by detailed analysis of their performance.
The full report offers an insight into not only how the European marketplace sector as a whole operates, but how each marketplace by region and sector drives that performance – and what that means for the year ahead.
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