Vinted - statistics & facts
Needing an easy way to sell her extra clothing during a move to Vilnius, Lithuania, co-founder Milda Mitkutė worked together with Justas Janauskas to bring Vinted to life in 2008. Since then, the recommerce site has arguably become the most notable second-hand fashion marketplace throughout Europe, used by millions of buyers and sellers alike in its twenty-one operating markets.
Vinted’s revenue isn’t the only figure that the company can boast – in 2023, Vinted’s estimated gross merchandise volume (GMV) also reached new heights, totaling over 9.3 billion euros, of which the most was generated in France, followed by the UK, and then Germany.
Why do buyers and sellers love to use Vinted? In a survey conducted by the company in 2022, nearly half of Vinted users reported that they use the platform because purchasing second-hand items is cheaper, while two in ten users reported that they prefer buying pre-loved clothing out of principle. For another 24 percent of Vinted users, particularly sellers, if they were unable to sell their items on Vinted, they reported that they would try on another online second-hand platform.
The massive success achieved by Vinted proves that even while other channels within the online fashion industry continue to grow and attract users, so long as people have reasons to sell and buy second-hand, their platform will always have a market to thrive in.
Lithuania's first tech unicorn
Keeping Vinted’s positive reputation and vast userbase in mind, it is unsurprising that the company is the first tech unicorn to come out of its headquarter country of Lithuania. Vinted officially reached unicorn status in 2019 after raising a total of one billion euros in funding. Since then, the C2C marketplace has not let its investors down. In 2023, the company’s annual revenue totaled at just over 596 million euros. This is well over double the revenue generated in 2021, and since the company went public in 2017, an especially impressive increase from the ten million euros of reported revenue that year.Vinted’s revenue isn’t the only figure that the company can boast – in 2023, Vinted’s estimated gross merchandise volume (GMV) also reached new heights, totaling over 9.3 billion euros, of which the most was generated in France, followed by the UK, and then Germany.
The whereabouts and whys of Vinted shoppers
While Europe has a wide range of fashion brands to buy from, ranging from fast fashion brands like Shein and ASOS to curated marketplaces like Zalando, Vinted was still one of the most downloaded fashion shopping apps globally in 2023, with a total of over 34.4 million downloads that year. Across the European continent, most of these downloads came from the UK, with 8.8 million, followed by Italy, Poland, and France respectively.Why do buyers and sellers love to use Vinted? In a survey conducted by the company in 2022, nearly half of Vinted users reported that they use the platform because purchasing second-hand items is cheaper, while two in ten users reported that they prefer buying pre-loved clothing out of principle. For another 24 percent of Vinted users, particularly sellers, if they were unable to sell their items on Vinted, they reported that they would try on another online second-hand platform.
The massive success achieved by Vinted proves that even while other channels within the online fashion industry continue to grow and attract users, so long as people have reasons to sell and buy second-hand, their platform will always have a market to thrive in.
