Vinted
 | |
| Company type | Private |
|---|---|
| Industry | Recommerce |
| Founded | 2008 |
| Founder | Milda Mitkute and Justas Janauskas |
| Headquarters | Vilnius , Lithuania |
Area served | |
Key people | Thomas Plantenga (CEO) |
| Products | Used clothing and various products |
| Revenue | €371.4 million (2022)[1] |
Number of employees | 1242 (2022) |
| Website | www |
Vinted, UAB Group, commonly known as Vinted, is a Lithuanian online marketplace for buying, selling, and exchanging new or secondhand items, mainly clothing and accessories.[2]
History[edit]
Vinted was co-founded in 2008 by Milda Mitkute and Justas Janauskas in Vilnius, Lithuania. The idea originated when Mitkute was moving house and needed a way to sell her surplus clothes. This led to the creation of a website where users could trade their clothing items.
In 2012, Vinted partnered with Lemon Labs, a Lithuanian-based app development consultancy, to launch their mobile app.[3]
In 2016, Dutch businessman Thomas Plantenga joined Vinted's management team as a strategy consultant and later became the CEO. Under his leadership, Vinted underwent significant restructuring and expansion.[4]
In 2019, Vinted became Lithuania's first tech unicorn, raising €128 million at a €1 billion valuation in a round led by Lightspeed Venture Partners.[5]
In October 2020, Vinted acquired United Wardrobe, a Dutch competitor.[6]
In 2024, Vinted expanded further by acquiring Trendsales, a Danish competitor.[7]
As of March 2024, Vinted is available in twenty-one countries and has more than 65 million registered users.[8]
Business Model[edit]
Vinted operates as a peer-to-peer marketplace where users can list their own items for sale. The platform charges a service fee to buyers which covers protection and operational costs. Vinted does not charge sellers any fees for listing items, making it an attractive platform for individuals looking to sell their unused clothing.
Shipping and Payments[edit]
Vinted offers integrated shipping solutions in partnership with various courier services. Buyers can choose their preferred shipping method, and Vinted provides shipping labels that can be printed directly from the platform. Payments are securely processed through the Vinted Wallet, which allows users to store and withdraw funds.
Environmental Impact[edit]
Vinted promotes sustainable fashion by encouraging the reuse and recycling of clothing. By providing a platform for secondhand items, Vinted helps reduce the demand for new clothing production, which in turn lowers the environmental impact associated with manufacturing and textile waste.
Marketing and Community[edit]
Vinted uses various marketing strategies, including social media campaigns, influencer partnerships, and online advertisements, to reach its target audience. The platform also fosters a strong community among its users through forums and social features that allow buyers and sellers to interact and share their experiences.
Expansion and Future Plans[edit]
Vinted continues to explore opportunities for expansion into new markets. The company aims to enhance its platform by adding new features and improving user experience. Future plans include expanding its product categories beyond clothing and accessories to include home goods and other secondhand items.
See also[edit]
Depop Poshmark ThredUp The RealReal
References[edit]
- ^ "Vinted increased its revenue, optimised operations and continued active expansion last year", www.vinted.com, archived from the original on 27 November 2023, retrieved 25 October 2023
- ^ "The story behind Lithuanian secondhand marketplace Vinted". Tech.eu. 15 January 2015. Archived from the original on 9 June 2021. Retrieved 19 July 2017.
- ^ "Vinted Case Study". Lemon Labs. Archived from the original on 30 July 2016. Retrieved 19 July 2017.
- ^ Knowles, Kitty. "Step Into Vinted: The World's Largest Pre-Loved Fashion Marketplace". Forbes. Archived from the original on 14 August 2020. Retrieved 31 December 2020.
- ^ "Lithuania crowns its first tech unicorn! Vinted, second-hand fashion marketplace, pockets €128 million and secures €1 billion valuation". 29 November 2019. Archived from the original on 20 October 2021. Retrieved 11 October 2021.
- ^ "Second-hand fashion consolidation: Lithuanian unicorn Vinted acquires Dutch competitor United Wardrobe". Silicon Canals. Archived from the original on 1 November 2020. Retrieved 9 November 2020.
- ^ "Vinted acquires Danish second-hand marketplace Trendsales". company.vinted.com. 5 March 2024. Archived from the original on 4 April 2024. Retrieved 4 April 2024.
- ^ "About Vinted". Vinted. Archived from the original on 19 June 2018. Retrieved 30 November 2022.
[[Category companies established in 2008]] [[Category properties established in 2008]] [[Category marketplaces of Lithuania]] [[Category marketplaces of the United States]] [[Category marketplaces of the United Kingdom]] [[Category based in Vilnius]]