Vinted triples its profits in a year to £80m

The popular second-hand marketplace Vinted has recorded a remarkable financial performance, tripling its profits to €95.4 million (£80.3 million) in 2024. This growth, up from €33.4 million the previous year, reflects the company’s ongoing success in expanding its platform across multiple categories and markets.

Vinted’s revenue has also witnessed a significant increase, rising by 36 per cent from €596.3 million to €813.4 million in 2024. Originally launched in Lithuania in 2008, the company is now operational in 23 markets globally and has carved out a leading position in Europe’s second-hand clothing space. The firm’s addition of new product categories, including electronics, has also contributed to this recent growth.

The electronics category, launched in 2024, now features items such as laptops, fitness trackers, headphones and speakers. While this expansion has boosted Vinted’s market offering, strong growth has also been observed in its existing categories such as luxury fashion—an area where the platform continues to attract both buyers and sellers alike.

Vinted’s rise to prominence includes its achievement as Lithuania’s first unicorn, securing a valuation of €5 billion after a secondary share sale in October 2024. With over 2,200 employees—mostly based at its headquarters in Vilnius—the company has scaled its business while also investing heavily in supporting technology and infrastructure.

The creation of Vinted Ventures, announced earlier this year, marks the organisation’s commitment to fostering innovation in the second-hand sector. The investment arm will support technology start-ups globally, focusing on sustainable solutions and technology that align with Vinted’s core markets. Meanwhile, its delivery network, branded as Vinted Go, has expanded logistics capabilities like locker pick-up and drop-off services.

Thomas Plantenga, Vinted’s chief executive, remarked on the company’s impressive performance, attributing it to customer-focused innovation and its ability to keep costs competitive. He added that the business remains strongly positioned to capitalise on further market opportunities, supported by the growing popularity of the circular economy.

The rise of second-hand marketplaces like Vinted underscores a broader shift in consumer behaviour, with more individuals seeking affordable and sustainable shopping options. As Vinted continues its expansion both geographically and in terms of product categories, its position as a leader in the second-hand space looks increasingly secure, with much potential for further growth in years to come.