Vinted has big plans for the future

A couple of weeks ago, we reported that Vinted, an online platform for reselling second-hand items, was valued at 5 billion euros and aims for global expansion. The increase in in-app sales has allowed the Lithuanian company to grow rapidly over the past few years, surpassing results from other online resale giants like eBay and Zalando: while in recent months these two companies have reported stable but modest revenue increases (3% and 5% respectively for the latest quarter), Vinted has achieved significantly higher sales peaks, reaching +61% in the second quarter of the year. With the launch of new services, such as certification for branded items and the sale of electronics and video games, the company is preparing for further expansion. Yesterday, during an event in Milan on the app's verification service, Vinted's senior luxury director Cecile Wickmann commented on the possibility of a stock market debut. «As for future financing, the IPO is one of several options to continue supporting this progress. It’s too early to say which path we will choose at the moment,» Wickmann told MF Fashion. The company, in a second moment, clarified that there is not any intention to think about an IPO at the moment.

The verification service was launched last year by Vinted to enhance the shopping experience for luxury items on the platform. For an additional fee, authentication is available for bags, shoes, accessories, jewelry, or watches worth over €100. A team of experts verifies that the product is genuinely authentic, adding a verification badge to the item before it is shipped to the buyer. Vinted's success over the past year further demonstrates how fragmented the fashion industry currently is: on one hand, there is the success of ultra-fast fashion giants like Inditex and Shein (which saw a 68% revenue increase in 2023, especially in Europe), and on the other, a growing consumer interest in vintage, leading to the expansion of companies like Vinted; on one side are the significant losses of major luxury groups like Kering and LVMH, and on the other, the market dominance of large but local companies such as Prada and Brunello Cucinelli. It remains to be seen whether the first to debut on the stock market will be Vinted or Shein, which is meanwhile preparing for London.