Vinted managed to raise both its sales and net profit last year. Looking to continue its growth, the online fashion platform wants to expand into new markets and strategies – such as an own investment fund.
More countries and categories
The Vinted Group as a whole managed to increase its turnover by 36 % to 813.4 million euros last year, while its net profit even increased by 330 % to 76.7 million euros. The Lithuanian company booked its first profit ever, 17.8 million euros, in 2023.
The growth is due to a higher penetration in existing markets and the launch in new countries such as Croatia, Greece and Ireland. The marketplace also added an electronics category, so that members can now also buy and sell used speakers, laptops and headphones. The platform will add more categories and countries in 2025.
Scale, innovation and cost control
Vinted is increasing the expansion of its subsidiary Vinted Go, which offers members cost-efficient shipping via lockers and collection points, adding Spain and Portugal to its existing networks in France and the Benelux. To further facilitate transactions on the platform, the group has launched its own payment service Vinted Pay in Lithuania. Moreover, Vinted is also launching a new investment fund, Vinted Ventures, which aims to invest in re-commerce startups.
CEO Thomas Plantenga attributes the strong performance to “relentless focus on cost control, building complex infrastructure ourselves, and innovating to bring new services and solutions at scale.” He thinks that it is precisely “this mix of scale, innovation, cost control that helps us succeed.”
