Latest news with #AdamJay
Fashion Network
30-04-2025
- Business
- Fashion Network
Vinted quadruples profit in 2024 as revenue climbs to €813.4 million
The Lithuanian leader in second-hand sales announced it generated €813.4 million in revenue in 2024. This 36% increase is especially notable for the 330% surge in net profit, which reached €76.7 million for the fiscal year, just one year after the company first became profitable. In 2023, the company had posted €17.8 million in net profit. Since then, its adjusted EBITDA has grown from €76.6 million to €158.9 million. The group attributes this growth partly to the rollout of new product categories, including luxury goods and high-tech offerings. Meanwhile, Vinted Go continued to grow its low-cost logistics service, supporting both its own sales volume and that of third-party brands. Currently available in France and the Benelux region, the service is scheduled to expand into Spain and Portugal in 2025. For CEO Thomas Plantenga, the results reflect a 'combination of scaling, innovation, and cost control,' he explained. 'Given the market's potential size, we know there are huge opportunities ahead and a lot of work to do to capture them. We see our current position as a strong foundation to build that future, and we will continue to learn and improve. We are at the beginning of the journey and aiming high.' The announcement also allowed Vinted to unveil Vinted Ventures, a new investment initiative to identify and support entrepreneurs and startups entering the 're-commerce' (second-hand online commerce) space and its value chain. The company has hinted at the launch of new product categories in 2025. Vinted Marketplace CEO Adam Jay recently told that the platform plans to broaden its offering while maintaining a core focus on apparel. Currently active in 22 European countries, Vinted also announced plans to continue expanding geographically. France remained its largest market last year, followed by the United Kingdom, Germany, and Italy. Founded in 2008 in Vilnius, Vinted indicated at the end of 2024 that it has no immediate plans to go public, even after reaching a €5 billion valuation following a secondary investment round. The company's workforce grew by 19% in 2024, reaching 2,200 employees.
Fashion Network
29-04-2025
- Business
- Fashion Network
Vinted quadruples profit in 2024 as revenue climbs to €813.4 million
The Lithuanian leader in second-hand sales announced it generated €813.4 million in revenue in 2024. This 36% increase is especially notable for the 330% surge in net profit, which reached €76.7 million for the fiscal year, just one year after the company first became profitable. In 2023, the company had posted €17.8 million in net profit. Since then, its adjusted EBITDA has grown from €76.6 million to €158.9 million. The group attributes this growth partly to the rollout of new product categories, including luxury goods and high-tech offerings. Meanwhile, Vinted Go continued to grow its low-cost logistics service, supporting both its own sales volume and that of third-party brands. Currently available in France and the Benelux region, the service is scheduled to expand into Spain and Portugal in 2025. For CEO Thomas Plantenga, the results reflect a 'combination of scaling, innovation, and cost control,' he explained. 'Given the market's potential size, we know there are huge opportunities ahead and a lot of work to do to capture them. We see our current position as a strong foundation to build that future, and we will continue to learn and improve. We are at the beginning of the journey and aiming high.' The announcement also allowed Vinted to unveil Vinted Ventures, a new investment initiative to identify and support entrepreneurs and startups entering the 're-commerce' (second-hand online commerce) space and its value chain. The company has hinted at the launch of new product categories in 2025. Vinted Marketplace CEO Adam Jay recently told that the platform plans to broaden its offering while maintaining a core focus on apparel. Currently active in 22 European countries, Vinted also announced plans to continue expanding geographically. France remained its largest market last year, followed by the United Kingdom, Germany, and Italy. Founded in 2008 in Vilnius, Vinted indicated at the end of 2024 that it has no immediate plans to go public, even after reaching a €5 billion valuation following a secondary investment round. The company's workforce grew by 19% in 2024, reaching 2,200 employees.
Fashion Network
29-04-2025
- Business
- Fashion Network
Vinted quadruples profit in 2024 as revenue climbs to €813.4 million
The Lithuanian leader in second-hand sales announced it generated €813.4 million in revenue in 2024. This 36% increase is especially notable for the 330% surge in net profit, which reached €76.7 million for the fiscal year, just one year after the company first became profitable. In 2023, the company had posted €17.8 million in net profit. Since then, its adjusted EBITDA has grown from €76.6 million to €158.9 million. The group attributes this growth partly to the rollout of new product categories, including luxury goods and high-tech offerings. Meanwhile, Vinted Go continued to grow its low-cost logistics service, supporting both its own sales volume and that of third-party brands. Currently available in France and the Benelux region, the service is scheduled to expand into Spain and Portugal in 2025. For CEO Thomas Plantenga, the results reflect a 'combination of scaling, innovation, and cost control,' he explained. 'Given the market's potential size, we know there are huge opportunities ahead and a lot of work to do to capture them. We see our current position as a strong foundation to build that future, and we will continue to learn and improve. We are at the beginning of the journey and aiming high.' The announcement also allowed Vinted to unveil Vinted Ventures, a new investment initiative to identify and support entrepreneurs and startups entering the 're-commerce' (second-hand online commerce) space and its value chain. The company has hinted at the launch of new product categories in 2025. Vinted Marketplace CEO Adam Jay recently told that the platform plans to broaden its offering while maintaining a core focus on apparel. Currently active in 22 European countries, Vinted also announced plans to continue expanding geographically. France remained its largest market last year, followed by the United Kingdom, Germany, and Italy. Founded in 2008 in Vilnius, Vinted indicated at the end of 2024 that it has no immediate plans to go public, even after reaching a €5 billion valuation following a secondary investment round. The company's workforce grew by 19% in 2024, reaching 2,200 employees.
