In 2008, Milda Mitkute was moving house in Lithuania and wanted to give away some clothes. So Justas Janauskas built a website to distribute clothes to friends, and Vinted was founded. Four years later a mobile app was launched which allows users to buy, sell or swap clothing and communicate on forums.
The company quickly expanded into Germany and is now available in 20 countries, with plans to reach Finland later in 2023. It now has more than 1200 employees headed by CEO Thomas Plantenga.
Originally, Vinted generated revenue through mandatory sales fees, but these were removed after business slowed. Now buyers pay for Buyer Protection Services, which guarantees a refund in case of damage or loss and costs either a fixed amount of £0.30 to £0.80 or between three to eight percent of the item’s price. Sellers can also pay to promote listed items or their entire catalogue of clothes.
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In 2022, Vinted revamped its organisational structure and introduced a dedicated shipping brand, Vinted Go. As part of the shipping service, branded lockers have been set up in Paris for users to pick up and drop off deliveries. A digital shipping platform has also been developed for B2B carriers.
Vinted became Lithuania’s first tech unicorn in 2019 after raising €128 million in a funding round on a €1 billion valuation. A subsequent funding round two years later raising €250 million, valuing the company at €3.5 billion.
There has been a small base of Vinted users in the USA for several years, but the company is not strongly established in the American market. The company has been cautious about expansion outside of Europe, citing shipping and currency challenges.
We have collected data and statistics on Vinted. Read on below to find out more.
Vinted Key Statistics
- Vinted generated €370.2 million in revenue in 2022, up from €245.1 million the year before
- Vinted was downloaded 29.1 million times in 2022
- There were 65 million registered users of Vinted in 2022, up seven million from the previous year
|People||Thomas Plantenga (CEO)|
Vinted’s revenue grew significantly during the coronavirus pandemic, jumping from €82.8 million in 2019 to €370.2 million in 2022.
Vinted annual revenue 2017 to 2022 (€mm)
Source: Company data
Vinted Net Income
Vinted has made a net loss each year since 2017, losing €47.1 million in 2022.
Vinted net income 2017 to 2022 (€mm)
Source: Company data
Vinted has more than doubled its registered annual users since 2019, rising from 30 million to 65 million in 2022.
Vinted annual users 2019 to 2022 (mm)
Source: Company data
Vinted was downloaded 29.1 million times in 2022, up from 26.1 million the year before.
Vinted annual downloads 2017 to 2022 (mm)
Vinted vs Depop
Vinted has outsold Depop in every year since 2019, and had over four times its competitor’s revenue in 2022 at €370.2 million compared to Depop’s €91.2 million.
Vinted and Depop revenue 2019 to 2022 (€mm)
What are Vinted’s gross merchandise sales?
Vinted had gross merchandise sales of around €1.3 billion in 2019, and estimates suggest this has risen in subsequent years.
How many countries is Vinted available in?
Vinted is available in 20 countries and has plans to expand into Finland in 2023.
How many items are available on Vinted?
Vinted reports that it has over 800 million items listed on its marketplace.
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