Vinted posts first-ever annual profit after 61% revenue growth in 2023
Vinted, the popular online marketplace for second-hand fashion, has announced its first-ever annual profit. The milestone follows a strong 2023, reaching €596.3mn in revenue — a 61% increase compared to the previous year (€370.2mn). With an adjusted EBITDA at €76.6mn, Vinted turned a €20.4mn net loss in 2022 into a €17.8mn net profit in 2023. The startup attributes its profitability to significant growth, starting with increased penetration in existing markets and its expansion to Romania, Denmark, and Finland. In addition, the company continued its expansion into luxury fashion with verification, and further developed Vinted Go, its own shipping service. “Second-hand…This story continues at The Next Web
Vinted, the popular online marketplace for second-hand fashion, has announced its first-ever annual profit. The milestone follows a strong 2023, reaching €596.3mn in revenue — a 61% increase compared to the previous year (€370.2mn). With an adjusted EBITDA at €76.6mn, Vinted turned a €20.4mn net loss in 2022 into a €17.8mn net profit in 2023. The startup attributes its profitability to significant growth, starting with increased penetration in existing markets and its expansion to Romania, Denmark, and Finland. In addition, the company continued its expansion into luxury fashion with verification, and further developed Vinted Go, its own shipping service. “Second-hand…
This story continues at The Next Web