What: the acquisition of a rival in the resale market.

Why it is important: the trend of resale and second-hand fashion has been growing over the past years, and especially in the latest months. Lithuanian Vinted is dominating the European peer-to-peer selling market.

The resale market has been skyrocketing in the past months. For consumers it is as much a sustainable move than an economical one. Start-up Vinted, with more than 1.3 billion euros in sales in 2019, has bought its rival Dutch peer-to-peer resale service United Wardrob. With this merge they will bring together 34 million users buying and selling online. The two platforms will gradually be integrated, and users of United Wardrobe will to easily migrate their user accounts to Vinted, accessing a wider variety of items and a larger community of potential buyers.

Vinted became Lithuania's first tech unicorn in November 2019 -- an industry term for a start-up valued at more than $1.0 billion.

UW and Vinted are joining forces!

Related item:

• The resale market is embraced by brands