The Lithuanian e-commerce group Vinted Group, the parent company of the online marketplace of the same name for second-hand fashion as well as the subsidiaries Vinted Go (logistics) and Vinted Pay (payment processing), has increased its turnover to 813.4 million euros in the 2024 financial year. Compared to the previous year, this corresponds to an increase of 36 percent.
The growth of net profit is still many times higher than the already considerable sales growth. From one year, this rose from one year from 17.8 million euros to 76.7 million euros. This means an increase of 330 percent. The parent company of Vinted is therefore profitable for the second year in a row. A profit was made for the first time in the 2023 financial year.
“This performance is the result of our hard work to offer products that offer members high added value at the lowest possible costs,” said Thomas Plantenga, Chief Executive Officer (CEO) of the Vinted Group. “We achieve this through a tireless focus on cost control, the establishment of a complex infrastructure and innovations to offer new services and solutions on a large scale. It is this mixture of size, innovation and cost control that helps us to be successful.”
Vinted mother group in the second year in a row profitable
Vinted has not just been just a marketplace for clothing and accessories for some time. For example, books have already been added to the range in recent years, and electronics were also added in 2024. Vinted indicates in the annual report that the company is planning to add further categories for 2025, but does not yet provide any details.
Expansion is also the requirement of the hour at the subsidiary Vinted Go. Among other things, Vinted Go has introduced a network in which members can send and collect packages via parcel compartments. Vinted Go currently has a network of these lockers in France and the Benelux countries and will also expand it to Spain and Portugal in 2025.
This article was used with digital tools translated.
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