What: Vinted posts first annual profit.

Why it is important: Proving that second-hand goods are on the rise and customers are trying to be more sustainable.

Vinted, Europe's largest online marketplace for used clothes, achieved its first annual profit in 2023, marking a significant turnaround from its previous year's loss. The company reported a net profit of €18 million, compared to a €20 million loss in 2022, alongside a substantial revenue increase of 61% to €596 million. Positioned as a leader in sustainable fashion, Vinted aims to expand its customer base and improve logistics for delivering goods between consumers. The company, which was valued at €3.5 billion in 2021, is considering various capital structure options, including a potential stock market listing. Vinted has diversified its services beyond being a marketplace, introducing initiatives like Vinted Go, a shipping service, and acquiring licenses for payment and verification services. While emphasizing the importance of profitability for potential investors, Vinted remains focused on balancing profitability with continued investment to fuel its growth and achieve its mission of making second-hand fashion the first choice.

Second-hand fashion site Vinted posts first annual profit