Vinted aims to become the “everything store”, that Jeff Bezos had envisaged for Amazon, of the new (circular) generation. After adding clothes and decoration, the platform now also (re)sels electronics. It raises the valuation of the second-hand platform to five billion euros.
“Any product imaginable”
Vinted continues to see new opportunities for growth: the Lithuanian second-hand platform is expanding into more and more product categories. Users could already sell clothes, books, toys, kids’ stuff and decoration, but recently even electronics have been added. Consumers can now resell audio devices, wearables, game consoles and e-readers, among other things.
CEO Thomas Plantenga told the Financial Times that this is how the marketplace aims to reach gross sales of 100 billion euros in the coming years. “Ultimately, we want to make second-hand the first choice worldwide, for any product imaginable”, the Dutch CEO added. In other words, Vinted wants to become the Amazon-like “everything store” of second-hand goods.
Investors are eager to step into that story, a recent funding round demonstrated. New investors took over existing shares for 340 million euros. The capital increase values Vinted at five billion euros in total, a hefty jump from the 3.5 billion euros only three years ago.
