Vinted has been valued at €5 billion and plans global expansion

Last April, the clothing resale platform Vinted reported a 61% increase in sales, totaling almost €600 million. Now, the start-up has been valued at €5 billion, a big leap from the €3.5 billion in 2021. Announcing the news, the company also stated it is now ready to expand beyond second-hand clothing sales into less explored areas like electronics, books, toys, and video games. This year, Vinted became the first e-commerce for resale of second-hand items to turn profitable, a milestone that has allowed it to attract new investments and development opportunities. For now, growth opportunities are plentiful: the new valuation was achieved following a €340 million share sale to new investors from the American group TPG, along with asset manager Baillie Gifford. A TPG partner stated «When we first started tracking the company years ago we just hadn’t seen metrics like that in a long time».

In addition to expanding the e-commerce range to include games, electronics, and video games, Vinted, currently operating in twenty-two countries, has global expansion plans. Alongside the launch of the electronics category, the start-up also announced an expansion of operations in the Netherlands, Belgium, and France. A year ago, it introduced a authentication service available for branded products, an initiative that has strengthened the platform's ties to the luxury fashion sector. Vinted's success, from its new €5 billion valuation to its expansion projects, once again demonstrates the dominance that the vintage and second-hand world is exerting over the entire fashion industry, at a time when the rest of the luxury giants are suffering severe revenue losses.