For many years, the online fashion resale market was dominated by eBay. Vinted, first set up as a local website, has challenged the incumbent market leader by shifting focus towards sustainability.
Vinted has managed to compete successfully with other eCommerce platforms by providing more creative and personalized ways to shop, and focusing solely on fashion. With 75 million users it outstrips other fashion-focused competitors in this space, such as Depop which has roughly half the user base, but it sees its real competition in retailers that sell new clothing.
Vinted has raised significant funding which it has invested into rapid expansion, growing its presence in European markets and scaling up its US operations. While in the short term this has caused its profitability to drop, this expanded market reach is likely to yield dividends in the very near future.
Steph
Company Specialist at Welcome to the Jungle