Vinted, the online marketplace, is expanding its focus on the luxury goods sector and has issued its first report detailing its performance within this category. The report reveals that items from brands like Louis Vuitton, Chanel, and Gucci are prominently featured among those sold on the platform for over €500.
Although Vinted has not disclosed specific revenue figures, the analysis of its luxury category demonstrates consistent popularity for leading labels such as Hermès, Dior, Saint Laurent, and Prada, consistently ranking among the top 10 best-sellers across Vinted’s approximately 20 national markets. However, individual markets exhibit variations in demand and product preferences.
Cécile Wickmann, Vinted’s head of luxury, noted some interesting market trends, stating, “In general, the sale of second-hand fashion items is thriving in Italy, with a surplus of vendors compared to buyers. Conversely, France leads in purchases, with a higher number of buyers than vendors. Additionally, we observe distinct preferences among members across different European regions, such as high demand for high-end moccasins in the Netherlands and a preference for black luxury items among British members.”
According to the report, brands like TAG Heuer and Canada Goose are among the top 10 most desired in the UK, while Celine and Bottega Veneta enjoy high demand in Germany. Spanish members show particular interest in Omega products.
In France, Vinted’s largest market boasting 27 million registered members, Chanel, Hermès, and Dior are dominant. Similarly, local brands enjoy strong positions in their respective markets, such as Mulberry in the UK, Fendi and Gucci in Italy, Loewe in Spain, and MCM in Germany.
The release of this report underscores Vinted’s commitment to establishing itself within the luxury segment, traditionally occupied by competitors like Vestiaire Collective. In recent years, Vinted has taken strategic steps toward this goal, including the acquisition of the German luxury resale site Rebelle in 2022 and the introduction of a product verification service aimed at enhancing buyer confidence in luxury goods purchases.
In 2023, after years of focusing on expanding its offerings and increasing site traffic, Vinted reported its first profit. The company posted a net income of €17.8 million last year, a significant turnaround from the €20.4 million loss recorded in the previous year. This positive outcome was supported by a notable 61% increase in revenue, reaching €596.3 million in 2023.
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