Vinted continued to grow its revenue in 2023 and reached profitability with €596.3 million in revenue, an increase of 61% vs 2022. Adjusted EBITDA was €76.6 million, and net profit was €17.8 million, vs a net loss in 2022 of €20.4 million.
Vinted marketplace successfully drove growth on multiple vectors, including a continued increase of its penetration in existing markets; geographic expansion into Denmark, Finland and Romania; and continued expansion into luxury fashion through verification.
At the same time, the Group accelerated the development of shipping services with Vinted Go and made initial steps to further deepen the value chain with payment services. These steps are helping Vinted continue to enhance its customer value proposition and accelerate on its mission to make second-hand first choice worldwide.
It’s no surprise that eBay UK have made C2C fashion selling free in the face of this growth. Vinted is now firmly established as a channel in the UK and with Vinted and Depop (who are still loss making) taking the market by storm it’s forced eBay into a move that some see as long overdue.
Vinted see preloved fashion as a sector which still has massive potential for growth so watch this space as they continue to innovate and expand in the future.
Second-hand fashion is still a relatively immature market and only a tiny proportion of fashion overall. Our performance in 2023 was not only proof that we can deliver strong growth but that we are at the forefront of a market with huge potential. More importantly, growing C2C second-hand fashion is an impactful way to mitigate the harm of the fashion industry and the reason behind our mission to make second-hand the first choice
– Thomas Plantenga, CEO, Vinted Group
