Vinted revenue was 596 million euros in 2023

Second-hand fashion marketplace Vinted generated a revenue of 596.3 million euros last year. This was an increase of 61 percent compared to 2022, when the platform generated 370.2 million euros. It has also reached profitability.

The fact that European recommerce is growing in popularity, seems to be confirmed in Vinted’s growth. Recommerce currently has a 12.3 percent share of the total European ecommerce market.

Profit of €17.8 million last year

The second-hand online marketplace has released its financial results of 2023. It reached profitability for the first time. Its net profit was 17.8 million euros. A year earlier, its net loss was still 20.4 million euros. Additionally, Vinted was able to reach an adjusted EBITDA of 76.6 million euros last year.

‘Outpaced own growth plans’

According to the company, it outpaced its planned growth plans last year. It expanded its own luxury offer by launching the Item Verification service. With that, members can identify and trade high-value fashion items.

Last year, Vinted also expanded into Denmark, Finland and Romania last year. A month ago, it also acquired Danish competitor Trendsales, to fortify its position there. The company also expanded its Vinted Go service, with new lockers and PUDO points in France and the acquisition of Dutch delivery company Homerr.

‘Vinted has also expanded into payment services.’

Additionally, the company obtained an Electronic Money Institution License from the Bank of Lithuania last year. This enabled Vinted to expand into payment services.

‘Many opportunities ahead’

“During 2023, our core marketplace performed strongly, we accelerated the development of delivery services with Vinted Go, and we made steps into the payments part of our value chain. For 2024, we will continue on this mission, delivering against multiple growth vectors including geographic expansion and category development”, said Thomas Plantenga, Vinted Group’s CEO. “We see many opportunities ahead, so we will continue to balance profitability against investment opportunities to accelerate towards our mission.”