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Profit Growth · Re-Commerce · Strategic Expansion · Vinted
Vinted Group reported a significant financial surge last year, with turnover increasing 36% to 813.4 million euros and net profit soaring 330% to 76.7 million euros, driven by market expansion and new strategic initiatives.
The Lithuanian online fashion platform achieved its first profit of 17.8 million euros in 2023, and its latest performance reflects higher penetration in existing markets and successful launches in new countries like Croatia, Greece, and Ireland. Vinted also diversified its offerings by adding an electronics category and plans further category and country expansions in 2025.
Strategically, Vinted is expanding its shipping subsidiary, Vinted Go, into Spain and Portugal, launched its own payment service, Vinted Pay, in Lithuania, and established Vinted Ventures, an investment fund targeting re-commerce startups. CEO Thomas Plantenga attributes this robust growth to a strong focus on cost control, infrastructure development, and scalable innovation.
