Vinted, the digital marketplace for second-hand fashion, has reported a dramatic surge in profits as demand for resale platforms continues to grow.
The Lithuanian-headquartered company posted a profit before tax of €95.4 million (£80.3 million) for 2024 — nearly triple its €33.4 million profit the year before.
The resale giant also saw revenue climb by 36% to €813.4 million, up from €596.3 million in 2023.
Originally known for its focus on affordable, pre-loved clothing, Vinted’s popularity has soared thanks to high-profile listings that range from Paul Mescal’s cardigans and Ferne McCann’s baby clothes to luxury items from Alexa Chung’s wardrobe.
The platform, which now operates in 23 markets with a particularly strong footprint across Europe, has grown well beyond its second-hand fashion roots. In 2024, Vinted expanded into consumer electronics, enabling users to buy and sell items such as headphones, speakers, fitness trackers and laptops. The company also reported strong growth in emerging segments such as luxury fashion.
Founded in Vilnius in 2008, Vinted became Lithuania’s first tech unicorn in 2019 and continues to scale rapidly. In October 2024, a secondary share sale valued the business at €5 billion. It now employs over 2,200 staff, the majority based at its Vilnius headquarters.
Chief executive Thomas Plantenga attributed the company’s record performance to delivering value to its growing user base. “This performance is the result of our hard work to deliver products that bring high value for members at the lowest possible cost,” he said.
Vinted has also made strategic investments in its operations and infrastructure. Its dedicated logistics platform, Vinted Go, is expanding its parcel locker and pick-up/drop-off network to streamline deliveries. Meanwhile, Vinted Pay — the platform’s in-house payments service — launched its first services in Lithuania, supporting secure transactions between sellers and buyers.
In another sign of the company’s growing ambition, Vinted announced the creation of a new investment arm, Vinted Ventures, which will focus on supporting technology start-ups operating in the circular economy and second-hand retail sectors.
With resale and recommerce continuing to gain ground — both for sustainability-conscious consumers and cost-savvy shoppers — Vinted believes there is significant market share still to capture.
“Given the potential size of the market, we know there’s a huge opportunity ahead,” said Plantenga. “We see our current position as a solid foundation to build this future on, and we’ll continue to learn and improve.”
As the second-hand economy matures and expands into new categories, Vinted is positioning itself not just as a platform for pre-loved fashion, but as a major force shaping the next generation of sustainable retail.
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Vinted triples profits to £80m as second-hand fashion boom fuels expansion