The fashion resale platform, based in Lithuania, announced earlier this week that net profit had grown by 330% and revenues had grown by 36% year on year
Its notable margin (visible in the chart below) puts it in contrast to many of its rivals in the clothing recommerce space, where take-up has been huge but profits elusive – although it looks like it may just be a matter of time for some of the other providers.
Depop narrowed its total loss last year to £48.6m, down more than a quarter from 2023.
Luxury US resale site TheRealReal also saw its loss in 2024 drop by $34m (£25.5m) on the 2023 figure, to stand at $134m (£100.8m).
ThredUp, another US-focused business that works across a wider variety of price points, saw losses hold relatively steady year-on-year (although it has now closed a loss-making European operation).
As well as its marketplace, Vinted runs a logistics and payments business that caters to its sellers. It did not break out in its announcement which parts of the business were the biggest revenue drivers.
The platform has differentiated itself by running with no seller fees, a strategy that both Depop and eBay are now pursuing too, with private sellers. Vinted is now taking aim at recommerce generalist eBay by expanding into other categories beyond fashion, starting with electronics.
The second-hand apparel market was worth $227bn (£170bn) in 2024, 15% more than the year before and equivalent to 9% of global fashion sales, according to figures prepared for ThredUp by GlobalData. ThredUp chief executive James Reinhart has predicted a breakout year for resale if Trump tariffs end up raising the price of imported fashion products.
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