Online marketplace Vinted reports strong growth and plans for expansion
- Vinted posts first profit of €18m
- Sales surged 61% to reach €596.3m
- CEO sees ‘huge potential’ in secondhand fashion market
- Vinted expands geographically and offers new services
- Focus on luxury fashion and increased safety measures
- Vinted valued at €3.5bn with over 100m users in 21 countries
Vinted, the online marketplace for secondhand fashion, has achieved its first-ever profit of €18m, marking a significant milestone for the company. Sales also saw a remarkable surge of 61%, reaching €596.3m. CEO Thomas Plantenga emphasized the ‘huge potential’ of the secondhand fashion market, stating that Vinted’s performance in 2023 demonstrates both strong growth and leadership in the industry. Despite an uncertain macroeconomic backdrop, Vinted exceeded its planned growth and expanded geographically in Denmark, Finland, and Romania. The company also introduced new services, such as Vinted Go, a shipping service that utilizes lockers for convenient delivery and collection of clothes in France. Vinted’s focus on luxury fashion has been enhanced through the acquisition and integration of German secondhand platform Rebelle, as well as the launch of its own verification service, ensuring increased safety for members. With a valuation of €3.5bn and over 100 million users in 21 countries, Vinted is well-positioned to capitalize on the growing demand for secondhand fashion.
Factuality Level: 8
Factuality Justification: The article provides specific details about Vinted’s financial performance, growth, expansion plans, and strategic moves. It quotes the CEO and includes information about the company’s profitability, sales growth, and future investments. The article does not contain irrelevant information, misleading details, sensationalism, or bias. It presents factual information about Vinted’s operations and market position.
Noise Level: 3
Noise Justification: The article provides relevant information about Vinted, including its financial performance, growth, expansion plans, and strategic moves. It offers insights into the secondhand fashion market and Vinted’s position within it. The article stays on topic and supports its claims with data and examples. However, the mention of Sainsbury’s at the end seems out of place and unrelated to the main focus on Vinted.
Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the financial performance of Vinted, an online marketplace for secondhand fashion. It discusses the company’s profit for the first time and its strong year of growth. This information may be of interest to investors and stakeholders in the fashion industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article does not mention any extreme events or their impact.
www.retailgazette.co.uk 
