 | |
| Company type | Private |
|---|---|
| Industry | Recommerce |
| Founded | 2008 |
| 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]
In 2008, Milda Mitkute and Justas Janauskas co-founded Vinted in Vilnius, Lithuania, testing a prototype site where Lithuanian women could trade their clothes. After recruiting a couch surfing guest of Janauskas to help with advertising and promotions, the two expanded their business into Germany, where it operates under the brand Kleiderkreisel. In 2010, Vinted launched in the United States.[citation needed]
In 2012, Vinted partnered with Lemon Labs, a Lithuanian-based app development consultancy to launch their mobile app.[3] In a case study, Lemon Labs reported that before the app was released, 80% of the traffic came from desktop web and the rest from mobile web browsing. Within a day of its release, Vinted saw as much as a 30% traffic increase with the app.
In 2016, Vinted's management team was joined by the Dutch business man Thomas Plantenga as a strategy consultant. He has since become CEO of the company.[4]
In 2019, Vinted became Lithuania's first tech unicorn by raising €128 million at €1 billion valuation in a round led by Lightspeed Venture Partners[5]
In October 2020 Vinted acquired United Wardrobe, a Dutch competitor.[6]
Available on iOS, Android, and desktop browsers, Vinted provides users a platform to sell their clothing and accessories, purchase or swap from other users, and communicate with members using the forums. Since their launch, Vinted has expanded into men's and children's clothing. As of December 2023, Vinted is available in twenty-one countries and has more than 65 million registered users.[7]
Vinted charges buyers a service fee on each purchase. They also charge sellers a fee every time they "bump" their listings to the top of the catalog.[8] Sellers can also choose, for a fee, to spotlight their wardrobe so that their full offerings appear in a horizontal scroll across the feed of certain buyers.