Vinted’s Rise Amidst Fashion Retail Challenges
Many high street fashion retailers are struggling as shoppers prefer online platforms. Conversely, Vinted, a popular app for buying and selling second-hand clothes, is thriving. The Lithuanian-based company tripled its net profit to £65 million in a year, driven by revenue growth of over a third.
- Key Takeaways:
- Vinted has seen increased profit and valuation amid a shift to second-hand shopping.
- Users, like Chloe Chandler and Ellie Paige, share successful selling tips on social media.
- The platform appeals by eliminating seller fees and shifting costs to buyers.
Local Events and Celebrities
Vinted’s growth is not restricted to just profits. British celebrities like Alexa Chung and Katie Price are selling items on the platform, increasing its visibility. The app now operates in 22 markets across Europe, including electronics, and plans to expand further in 2025.
For more details, visit MailOnline.
Question/CTA: How do you think platforms like Vinted are reshaping shopping habits in Nigeria or Lagos?
