Vinted
Company typePrivate
IndustryRecommerce
Founded2008; 16 years ago (2008)
Headquarters
Vilnius
,
Lithuania
Area served
Key people
Thomas Plantenga (CEO)
ProductsUsed clothing and various products
Revenue€371.4 million (2022)[1]
Number of employees
1242 (2022)
Websitewww.vinted.com
VintedGoLocker
A Vinted Go parcel locker in France


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]

History

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]

Business

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]

Fees

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.

See also

References

  1. ^ "Vinted increased its revenue, optimised operations and continued active expansion last year", www.vinted.com
  2. ^ "The story behind Lithuanian secondhand marketplace Vinted". Tech.eu. 2015-01-15. Retrieved 2017-07-19.
  3. ^ "Vinted Case Study". Lemon Labs. Retrieved 2017-07-19.
  4. ^ Knowles, Kitty. "Step Into Vinted: The World's Largest Pre-Loved Fashion Marketplace". Forbes. Retrieved 2020-12-31.
  5. ^ "Lithuania crowns its first tech unicorn! Vinted, second-hand fashion marketplace, pockets €128 million and secures €1 billion valuation". 2019-11-29.
  6. ^ "Second-hand fashion consolidation: Lithuanian unicorn Vinted acquires Dutch competitor United Wardrobe". Silicon Canals. Retrieved 2020-11-09.
  7. ^ "About Vinted". Vinted. Retrieved 2022-11-30.
  8. ^ "Buyer Protection fee on Vinted". Vinted.