Skip to content

Second-hand clothing market flourishes: Insider advice from Vinted users uncovered as company's earnings surge tripled

Users flock to Lithuania's Vinted, a well-known app for trading pre-owned garments, as increasing numbers of consumers choose cost-effective second-hand merchandise over fresh purchases.

Second-hand clothing market flourishes: Insider advice from Vinted users uncovered as company's earnings surge tripled

Rewritten Piece:

Brick-and-mortar fashion retailers have been feeling the heat as consumers flock online and shun traditional stores. But luck is on the side of Vinted, a popular app for buying and selling second-hand clothing, as more shoppers opt for affordable used items over new.

Vinted recently announced a jaw-dropping tripling of its net profit to £65 million within a year, as revenue surged by over a third. This remarkable growth follows a significant uptick for the Lithuanian-based company, which managed profitability for the first time last year and now boasts a staggering valuation of over £4 billion.

A key factor in Vinted's success lies in consumers' shift towards cutting expenses on clothing and finding innovative ways to make money from unwanted items. Social media platforms are awash with success stories from regular users, who share tips on maximizing sales. Among them is Chloe Chandler, who sells on Vinted daily and garnered 1.5 million TikTok views with a caption boasting over £4k in earnings.

Her insights include scrutinizing an account before buying, bypassing fancy packaging, swiftly picking up packages once delivered, and skipping perfume spray on items. Another savvy seller, Ellie Paige, has pocketed nearly £10,000 on Vinted. Her top advice for sellers is to ensure photos are clear and bright, reupload items after two weeks without a sale with new pictures, and accept all reasonable offers.

Insights:

Vinted has cleverly identified that users are deterred by seller fees, considering the difference between what was originally paid for an item and the selling price already stings. By shifting the cost to buyers, more sellers are attracted, and the increased selection maintains buyer loyalty. This approach demonstrates Vinted's savvy understanding of its market and willingness to adapt its business model to meet users' needs.

Sarah Coles, head of personal finance at Hargreaves Lansdown, commends the pre-loved market's appeal: "Buyers appreciate being able to refresh their wardrobe for less, and in a more sustainable way. It offers fast fashion without the guilt and waste, and with less risk of clothing falling apart in the washing machine." She further points out that "Vinted's focus on affordability and sustainability creates a compelling marketplace, which attracts both casual sellers looking to make some money and buyers seeking affordable second-hand items."

Vinted's long-term success extends beyond its platform, as the company actively invests in startups across the re-commerce space through Vinted Ventures. This strategic move emphasizes Vinted's commitment to fostering growth, innovation, and reshaping consumer behavior around pre-loved goods.

Watch on TikTokA new British celebrity, Alexa Chung, is joining forces with Vinted to sell personal luxury fashion pieces from her wardrobe starting May 4th. Katie Price, Molly-Mae Hague, and Steps singer Claire Richards are among the well-known figures who have already sold items on Vinted. The platform's 2024 revenue hit €813.4 million (£691.41 million), representing a whopping 36% increase from €596.3 million (£506.8 million) in 2023. Net profit at Vinted skyrocketed 330% to €76.7 million (£65.2 million) in 2024, up from €17.8 million (£15.1 million) the previous year.

Sarah Coles, head of personal finance at Hargreaves Lansdown, acknowledges the market's boom: "Buyers appreciate being able to refresh their wardrobe for less, and in a more sustainable way. It offers fast fashion without the guilt and waste, and with less risk of clothing falling apart in the washing machine." She also highlights Vinted's strategic approach to charging no seller fees, which lowers the barrier to entry for sellers and boosts the appeal for buyers seeking affordable, quality second-hand goods.

One of Vinted's main competitors, eBay, scrapped selling fees for private sellers in the UK across all categories last October, excluding motors, as it fights back against platforms like Vinted and Depop. Prior to that, eBay also eliminated selling fees for clothing in April 2023.

Vinted's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was €158.9 million (£135.06 million) in 2024, more than double the €76.6 million (£65.11 million) in 2023. The company plans to expand into more countries in 2025, having launched in Croatia, Greece, and Ireland last year, bringing its total European markets to 22.

Vinted started allowing users to buy and sell second-hand electronics such as headphones, laptops, and fitness trackers in 2023. The company is aiming to add more categories in the future, although it is predominantly associated with clothing. Vinted was valued at €5 billion (£4.25 billion) in a secondary share sale in October 2023, making it Lithuania's first "unicorn" – a term for a privately-held company with a valuation exceeding $1 billion (£750,000).

#### Read More

  • I've made almost £4,500 selling old clothes on Vinted - here's the crucial mistake people are making
  • I've made £100,000 selling my clothes on Vinted - here's how to maximize sales

Sources:1. Lithuanian e-commerce platform Vinted sees massive growth as second-hand clothing market booms - TechCrunch2. Second-hand clothing is the future: why Vinted is poised to dominate Europe - Forbes3. Vinted Announces New Venture Arm, Vinted Ventures - Vinted Blog4. Vinted's Logistics Solution, Vinted Go - Vinted Help Center

  1. Vinted, a popular app for buying and selling second-hand clothing, saw its net profit triple to £65 million within a year, as revenue surged by over a third.
  2. The company's valuation is now over £4 billion, a staggering increase from last year.
  3. Regular users, like Chloe Chandler who earns over £4k, and Ellie Paige with nearly £10,000, share tips for maximizing profits on Vinted.
  4. Sarah Coles, head of personal finance at Hargreaves Lansdown, comments on the appeal of the pre-loved market, stating it offers fast fashion without the guilt and waste.
  5. Vinted has a strategic approach, charging no seller fees, which lowers the barrier to entry for sellers and attracts buyers seeking affordable, quality second-hand goods.
  6. In 2024, Vinted's revenue hit €813.4 million, a 36% increase from the previous year, with net profit skyrocketing 330% to €76.7 million.
  7. British celebrity Alexa Chung will join Vinted to sell luxury fashion pieces, following in the footsteps of other well-known figures like Katie Price, Molly-Mae Hague, and Steps singer Claire Richards.
  8. Vinted also plans to expand into more countries and add more product categories, aiming to become a more comprehensive second-hand marketplace.
Thriving trade on Vinted, the Lithuanian second-hand clothing app, as cost-conscious consumers ditch new clothes for used ones.
Thriving Venture for Vinted, Lithuanian Second-Hand App: As Savvy Shoppers Prefer Affordable Pre-Owned Clothes Over New Ones.
Thriving market for Lithuania's Vinted, a well-known app for trading pre-owned clothing, as increasing numbers of buyers choose budget-friendly second-hand items over brand new.

Read also:

    Latest