European Second-Hand Giant Vinted Thrives Amid Growing Demand for Affordable Pre-Owned Goods
- Vinted’s net profit triples to €76.7m
- Revenue climbs 36% to €813.4m
- Adjusted EBITDA more than doubles to €158.9m
- Second-hand electronics category launched
- Expansion into Croatia, Greece, and Ireland
- Vinted Go expands shipping options in Spain and Portugal
- Vinted Pay integrated payment solution launched in Lithuania
Second-hand marketplace Vinted has reported a sharp rise in revenue and profits for 2024, driven by the growing consumer appetite for affordable pre-owned goods and ongoing expansion across Europe. The Lithuanian company posted a net profit of €76.7m, up from €17.8m the previous year, as sales climbed 36% to €813.4m. Adjusted EBITDA also more than doubled to €158.9m. CEO Thomas Plantenga attributed this success to a focus on cost control, building infrastructure in-house, and innovation at scale. Vinted aims to become a one-stop platform for pre-owned goods by expanding categories and services. The company launched second-hand electronics last year, entered new markets like Croatia, Greece, and Ireland, and expanded its logistics arm, Vinted Go, into Spain and Portugal. It also introduced Vinted Pay in Lithuania to improve transaction ease and security.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about Vinted’s financial performance, expansion plans, and new services launched in different countries. It also includes quotes from the CEO that support the company’s growth strategy. The only irrelevant detail is the mention of Ikea opening a flagship store on Oxford Street, which is unrelated to the main topic.
Noise Level: 2
Noise Justification: The article provides relevant information about Vinted’s financial performance and expansion plans, as well as details on new services and market growth. It also includes a quote from the CEO that adds value to the story. However, the mention of Ikea at the end seems unrelated and could be considered noise.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Vinted’s sharp rise in revenue and profits, as well as its expansion across Europe, which indicates financial relevance. However, it does not mention any specific impact on financial markets or companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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