Latest news with #VintedVentures
Fashion United
07-05-2025
- Business
- Fashion United
Vinted becomes investor and launches 'Vinted Ventures'
In late April, Vinted Group quietly launched its investment company, Vinted Ventures. This new organisation, managed by the leader in second-hand fashion in Europe, is dedicated to supporting resale start-ups. 'Through Vinted Ventures, we support ambitious founders whose products and services provide concrete solutions, and who are ready to define the next stage of how people buy, sell and value what they own,' said Milda Jasaitė, senior director of corporate development at Vinted, in a statement. Vinted Ventures stated that it is targeting series A to C companies 'with bold visions and data-driven decision-making'. The company will invest between 500,000 euros and 10 million euros and stated that, in addition to capital, companies in the portfolio will have access to its network of expert advisors. In 2024, the turnover of Vinted Group, the parent company of the Vinted marketplace, the logistics company Vinted Go and the payments company Vinted Pay, amounted to 813.4 million euros. This figure represents an increase of 36 percent compared to the 2023 financial year. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
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.
Asharq Al-Awsat
29-04-2025
- Business
- Asharq Al-Awsat
Second-Hand Clothes App Vinted Reports Jump in Revenue and Profit
Vinted, an app where users buy and sell second-hand clothes, reported a 36% increase in revenue for 2024 on Tuesday and said it more than tripled its net profit, as more shoppers opt for cheaper used items instead of new. Vinted has benefited as inflation-weary European consumers slashed their spending on clothing, and looked for new ways to make money by selling their own unwanted items. Founded in Lithuania in 2008, Vinted reached profitability for the first time in 2023. It was valued at 5 billion euros ($5.69 billion) in a secondary share sale in October last year. Vinted plans to expand into more countries in 2025, having launched in Croatia, Greece, and Ireland last year for a total of 22 markets in Europe. Vinted started letting users buy and sell second-hand electronics on the platform in 2024, and said it would add more categories, though it is still mainly known for clothing. Revenue for 2024 was 813.4 million euros ($925.89 million), up from 596.3 million euros in 2023, while net profit jumped 330% to 76.7 million euros. Lithuania's first "unicorn", a term for a privately-held company with a valuation exceeding $1 billion, Vinted said it is launching an investment arm, Vinted Ventures, aimed at funding other second-hand retail startups. Vinted Ventures will offer funding of between 500,000 euros and 10 million euros to Series A and Series C stage companies.
