Vinted, second hand continues its run: +36% revenues in 2024
The group behind the used car trading platform is now present in 21 countries and also invests in logistics, payment systems and support for start-ups
2' min read
2' min read
The success of second hand shopping shows no signs of abating: this is confirmed by the 2024 figures of Vinted, the resale platform launched in Lithuania in 2008 and now present in 21 countries.
The group - which, in addition to the platform dedicated to buying and selling, also includes the Vinted Go logistics system and the Vinted Pay payment system - recorded consolidated revenue of EUR 813.4 million, up 36% compared to 2023. Profits rose decisively, at +330%, to 76.7 million euro (it was 17.8 million in 2023), Ebitda to 158.9 million (it was 76.6 million in 2023). Human resources also grew: recruitment increased by 19%, totalling more than 2200 people, most of them at the headquarters in Vilnius, Lithuania, but also at the other locations in Amsterdam, Berlin, Kaunas and Paris.
These results are certainly supported by the evolution of consumers' buying habits, who for reasons of budget, sustainability or even a desire for uniqueness are increasingly choosing to buy second-hand creations, but also by Vinted's expansion in other countries, such as Croatia, Greece and Ireland, and by the growth of the Luxury category, in which the platform led by Thomas Plantenga is investing with conviction, also by offering and implementing new inspection services and authenticity guarantee. Also new in 2024 is the Electronics category. And in 2025 Vinted announces that it will continue to expand into new categories and countries. From 2020 it will be available in Italy.
The Vinted Go logistics service, already available in France and the Benelux region, has also been extended to Spain and Portugal. But the group has also decided to invest in other channels: for example, just today it launched its investment fund, Vinted Ventures, which, as the note issued by the group states, 'aims to invest in the new generation of start-ups active in re-commerce'.
"This performance is the result of our hard work in proposing products that can deliver high value for our members at the lowest possible cost," said Thomas Plantenga, CEO of Vinted Group. "We do this through our relentless cost control, building complex infrastructures ourselves, innovating and bringing new services and solutions at scale. With Vinted we aim to create a business ecosystem that can change the way society consumes. Given the potential of the market, we know we have huge growth opportunities and still a lot of work to do".
