Vinted’s financial results for 2024 show significant growth, with consolidated revenue reaching €813.4 million, a 36% increase from €596.3 million in 2023. The company’s net profit surged to €76.7 million, a 330% jump from €17.8 million the previous year. Adjusted EBITDA also rose to €158.9 million from €76.6 million in 2023.
Thomas Plantenga, Vinted’s CEO, attributes this success to the company’s focus on cost control, building complex infrastructure, and innovating to offer new services at scale. “This performance is the result of our hard work to deliver high-value products to our members at the lowest possible cost,” he said.
In October 2024, Vinted completed a secondary share sale, valuing the company at €5 billion. This transaction allowed all shareholders, including employees, to benefit financially from their contributions to Vinted’s success while attracting new investors.
Vinted Expands into New Markets and Categories
Vinted is deepening its market penetration in existing territories and has launched in new countries, including Croatia, Greece, and Ireland. The platform has seen strong growth in its existing categories, such as luxury fashion. In response to user demand, Vinted has introduced a new electronics category, allowing users to buy and sell second-hand devices like laptops and headphones.
The company’s logistics arm, Vinted Go, continues to expand, offering affordable and convenient shipping options through a network of drop-off points and pickups. After establishing a strong presence in France and the Benelux region, Vinted Go is now entering Spain and Portugal.
Investing in Vinted Pay and Re-commerce
Vinted is also investing heavily in Vinted Pay, which launched its first services in Lithuania. The goal is to simplify transactions, reduce costs, and strengthen the company’s ecosystem. Additionally, Vinted has launched Vinted Ventures, an investment division focused on supporting the next generation of founders and startups in the re-commerce sector.
Maurizio D’Arrigo, Vinted’s CFO, said, “These results reflect not only Vinted’s widespread adoption in Europe but also our significant contribution to the second-hand economy.” He added that the company’s strong financial position will enable it to continue growing and reinvesting in the business.
Future Plans
In 2025, Vinted plans to continue its geographical expansion and invest in new categories. The company will also focus on strengthening its services to make transactions easier, more confident, and cost-effective for its members. To support these priorities, Vinted’s team is growing, with the average number of employees increasing by 19% in 2024 to over 2,200 staff across all entities.