In 2008, Milda Mitkute was moving house in Lithuania and wanted to give away some clothes. So Justas Janauskas built a website to distribute clothes to friends, and Vinted was founded. Four years later a mobile app was launched which allows users to buy, sell or swap clothing and communicate on forums.
The company quickly expanded into Germany and is now available in 20 countries, with plans to reach Finland later in 2023. It now has more than 1200 employees headed by CEO Thomas Plantenga.
Originally, Vinted generated revenue through mandatory sales fees, but these were removed after business slowed. Now buyers pay for Buyer Protection Services, which guarantees a refund in case of damage or loss and costs either a fixed amount of £0.30 to £0.80 or between three to eight percent of the item’s price. Sellers can also pay to promote listed items or their entire catalogue of clothes.
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Get StartedIn 2022, Vinted revamped its organisational structure and introduced a dedicated shipping brand, Vinted Go. As part of the shipping service, branded lockers have been set up in Paris for users to pick up and drop off deliveries. A digital shipping platform has also been developed for B2B carriers.
Vinted became Lithuania’s first tech unicorn in 2019 after raising €128 million in a funding round on a €1 billion valuation. A subsequent funding round two years later raising €250 million, valuing the company at €3.5 billion.
There has been a small base of Vinted users in the USA for several years, but the company is not strongly established in the American market. The company has been cautious about expansion outside of Europe, citing shipping and currency challenges.
Vinted acquired Dutch competitors United Wardrobe in 2020, German rivals Rebelle in 2022 and Dutch delivery company Homerr in 2023, as it seeks to consolidate its strongest European markets.
We have collected data and statistics on Vinted. Read on below to find out more. Need more insights? Check out our retail app report.
Vinted Key Statistics
- Vinted generated €596 million in revenue in 2023, up from €370 million the year before
- There were 105 million registered users of Vinted in 2023
- Vinted was downloaded 32.8 million times in 2023
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Vinted Overview
| Title | Title 2 |
|---|---|
| Launch date | 2008 |
| HQ | Vilnius, Lithuania |
| People | Thomas Plantenga (CEO) |
| Business type | Private |
| Industry | eCommerce |
Vinted Revenue
Vinted revenue increased by 60.9% to €596 million in 2023.
Vinted revenue 2017 to 2023 (€mm)
| Year | Revenue (€mm) |
|---|---|
| 2017 | 11 |
| 2018 | 32.9 |
| 2019 | 82.8 |
| 2020 | 148.5 |
| 2021 | 245.1 |
| 2022 | 370.2 |
| 2023 | 596 |
Sources: Retail App Report, Company data
Vinted Net Income
Vinted reported its first annual net income in 2023, of €17.8 million.
Vinted net income 2017 to 2023 (€mm)
| Year | Income (€mm) |
|---|---|
| 2017 | -10.4 |
| 2018 | -42 |
| 2019 | -22.2 |
| 2020 | -24.1 |
| 2021 | -118.2 |
| 2022 | -20.4 |
| 2023 | 17.8 |
Sources: Retail App Report, Company data
Vinted Users
Vinted reached over 100 million registered users in 2023, with 18 million based in the UK.
Vinted registered users 2019 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2019 | 30 |
| 2020 | 45 |
| 2021 | 65 |
| 2022 | 80 |
| 2023 | 105 |
Source: Company data
Vinted Downloads
Vinted was downloaded 32.8 million times in 2023, up from 29.1 million the year before.
Vinted downloads 2017 to 2023 (mm)
| Year | Downloads (mm) |
|---|---|
| 2017 | 2.7 |
| 2018 | 5.3 |
| 2019 | 10.6 |
| 2020 | 11.5 |
| 2021 | 26.1 |
| 2022 | 29.1 |
| 2023 | 32.8 |
Source: Appfigures
Vinted vs Depop
Vinted has outsold Depop in every year since 2019, and had over ten times the revenue of its rival in 2023.
Vinted and Depop revenue 2019 to 2023 (€mm)
Want to learn more? Check out our Retail App Report
Vinted FAQ
What are Vinted’s gross merchandise sales?
Vinted had gross merchandise sales of around €1.3 billion in 2019, and estimates suggest this has risen in subsequent years.
How many countries is Vinted available in?
Vinted is available in 20 countries and has plans to expand into Finland in 2023.
How many items are available on Vinted?
Vinted reports that it has over 800 million items listed on its marketplace.
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