Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Vinted triples profits to £80m as second-hand fashion boom fuels expansion

by May 14, 2025
May 14, 2025
Vinted triples profits to £80m as second-hand fashion boom fuels expansion

Vinted, the digital marketplace for second-hand fashion, has reported a dramatic surge in profits as demand for resale platforms continues to grow.

The Lithuanian-headquartered company posted a profit before tax of €95.4 million (£80.3 million) for 2024 — nearly triple its €33.4 million profit the year before.

The resale giant also saw revenue climb by 36% to €813.4 million, up from €596.3 million in 2023.

Originally known for its focus on affordable, pre-loved clothing, Vinted’s popularity has soared thanks to high-profile listings that range from Paul Mescal’s cardigans and Ferne McCann’s baby clothes to luxury items from Alexa Chung’s wardrobe.

The platform, which now operates in 23 markets with a particularly strong footprint across Europe, has grown well beyond its second-hand fashion roots. In 2024, Vinted expanded into consumer electronics, enabling users to buy and sell items such as headphones, speakers, fitness trackers and laptops. The company also reported strong growth in emerging segments such as luxury fashion.

Founded in Vilnius in 2008, Vinted became Lithuania’s first tech unicorn in 2019 and continues to scale rapidly. In October 2024, a secondary share sale valued the business at €5 billion. It now employs over 2,200 staff, the majority based at its Vilnius headquarters.

Chief executive Thomas Plantenga attributed the company’s record performance to delivering value to its growing user base. “This performance is the result of our hard work to deliver products that bring high value for members at the lowest possible cost,” he said.

Vinted has also made strategic investments in its operations and infrastructure. Its dedicated logistics platform, Vinted Go, is expanding its parcel locker and pick-up/drop-off network to streamline deliveries. Meanwhile, Vinted Pay — the platform’s in-house payments service — launched its first services in Lithuania, supporting secure transactions between sellers and buyers.

In another sign of the company’s growing ambition, Vinted announced the creation of a new investment arm, Vinted Ventures, which will focus on supporting technology start-ups operating in the circular economy and second-hand retail sectors.

With resale and recommerce continuing to gain ground — both for sustainability-conscious consumers and cost-savvy shoppers — Vinted believes there is significant market share still to capture.

“Given the potential size of the market, we know there’s a huge opportunity ahead,” said Plantenga. “We see our current position as a solid foundation to build this future on, and we’ll continue to learn and improve.”

As the second-hand economy matures and expands into new categories, Vinted is positioning itself not just as a platform for pre-loved fashion, but as a major force shaping the next generation of sustainable retail.

Read more:
Vinted triples profits to £80m as second-hand fashion boom fuels expansion

0
FacebookTwitterGoogle +Pinterest
previous post
£10 million ‘Get Britain Working’ programme launches in York and North Yorkshire
next post
Half of UK consumers recognise Made in Britain trademark as demand for homegrown goods grows

You may also like

Economic climate holding back sustainability strategy for seven-in-ten...

November 21, 2022

Majority of UK employers still unable to sponsor...

October 26, 2022

Tata Steel close to securing £500m funding from...

September 4, 2023

DBT gives £230k injection to drive digital transformation...

December 12, 2024

Tala halts US expansion as Trump tariffs disrupt...

May 27, 2025

City chiefs urge Hunt to tackle domestic investment...

November 15, 2023

Get Ahead of Current Market Demands by Adopting...

September 4, 2024

Business leaders and MPs at odds over tax...

April 8, 2025

Small businesses hire three unsuitable staff a year

May 9, 2023

Nationwide Advert Featuring Dominic West Sparks Advertising Watchdog...

February 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved