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Secondhand Chic: Vinted and the Online Marketplace for Sustainable Luxury Fashion

Vinted – The Second-Hand Luxury Fashion Marketplace

Are you looking for a sustainable way to shop for your favorite luxury brands? Do you want to sell your gently used items and make some extra cash?

Look no further than Vinted, the online marketplace for second-hand clothing.

Company Background and Policies

Founded in Vilnius, Lithuania in 2008 by Milda Mitkute and Justas Janauskas, Vinted has quickly transformed into an empire under the leadership of CEO Thomas Plantenga. The company currently boasts a $1 billion valuation and is available in 18 countries, with 45 million users.

So, what makes Vinted unique? Vinted offers a comprehensive Catalog of Rules to its users, ensuring that all listings meet its strict guidelines.

This means that replica items are not allowed, making it a safe place to purchase luxury fashion without the risk of getting scammed. Vinted is free to use, and sellers can earn a regular income through the platform.

They also offer a prepaid shipping label to make the selling process as convenient as possible. Additionally, Vinted’s Buyer Protection Service protects buyers from scams and fraud.

While Vinted does charge fees to buyers, it is a small price to pay for the peace of mind of a safe transaction.

Founding and Growth of Vinted

Milda Mitkute and Justas Janauskas founded Vinted after struggling with a shopping addiction. They saw the need for an online marketplace for second-hand clothing, and Vinted was born.

The company grew rapidly, with Thomas Plantenga joining the team in 2016 and leading Vinted to become a unicorn company with a $1 billion valuation.

Top Competitors of Vinted

While Vinted is a leader in the online marketplace for second-hand clothing, it does face competition from other players in the market. Poshmark is a rising marketplace for second-hand fashion and offers virtual events called Posh Parties.

They have expanded into Europe and have raised $277 million in funding. Poshmark currently has 7.6 million users and generated $326 million in revenues in 2021.

StockX is an online marketplace for curated high-end brands that generated an estimated $528 million in revenue. They have become a leader in the sneaker market and have 300 million monthly visitors.

In 2021, StockX sold $1.8 billion worth of products.

Conclusion

Vinted is a sustainable and safe way to shop for luxury fashion, all while supporting sellers who are looking to make some extra cash and reduce waste. While there are competitors in the market, Vinted’s policies and comprehensive Catalog of Rules make it a unique and reliable option for buyers and sellers alike.

Consider giving Vinted a try for your next purchase or sale.

Other Competitors of Vinted in the Fashion and Clothing Resale Market

As sustainable fashion continues to gain momentum, online marketplaces for secondhand clothing have become increasingly popular. While Vinted is a leader in this space, there are several other competitors that also offer pre-loved fashion at affordable prices.

Let’s take a closer look at some of the other players in this market.

Vestiaire Collective

Vestiaire Collective is a French unicorn company that specializes in curated luxury brands. They offer both men’s and women’s clothing, making it a one-stop-shop for all your fashion needs.

The platform is known for its authentic high-end brands and offers a decluttering service to help users sell unwanted items.

Vestiaire Collective has an estimated $1 billion GMV (Gross Merchandise Value) and earns $250 million yearly.

Before its acquisition of

Tradesy, the company had 8-15 million users.

Depop

Depop is an online marketplace that is different from its competitors as it includes mass-produced unbranded items alongside authenticated high-end brands. The platform has a social aspect and is often described as a mix between Instagram and

eBay.

It operates on

eBay-like commercial principles, with users buying and selling items. In 2021,

Depop had a GMV of $670 million, with 30 million users.

Depop was acquired by Etsy in June 2021.

The RealReal

The RealReal is a luxury consignment platform that specializes in authenticated products. The platform offers a consignee service, meaning sellers can have their items evaluated and sold on their behalf.

In 2021,

The RealReal earned $120 million by selling $1.4 billion worth of authenticated items. The platform is available in 60 countries and currently has 797,000 users.

eBay

eBay is a well-known online marketplace that offers a wide range of products, including clothing and accessories.

eBay offers the

eBay Authenticity Guarantee, a program that ensures that all items sold over $500 are authenticated.

Unlike other marketplaces,

eBay allows sellers a great deal of independence to create and market their products.

eBay has 159 million users, earning $10 billion in revenue in 2021, with $87 billion worth of goods processed.

ThredUp

ThredUp is a marketplace that sells used clothing and also offers cash or credit for decluttered items.

ThredUp had a revenue of $251 million in 2021, with 1.6 million users.

In early 2021,

ThredUp was acquired by Etsy. This acquisition resulted in a 50% increase in GMV for

ThredUp.

Tradesy

Tradesy is a marketplace that allows users to buy and sell pre-loved authenticated branded products. The platform’s primary customer base is female shoppers, with wedding-related items being a popular category.

Vestiaire Collective acquired

Tradesy in 2021, resulting in a combined GMV of over $1 billion.

Mercari

Mercari is an e-commerce platform that specializes in pre-loved luxury goods. The platform offers

Mercari Authenticate, a service that authenticates items before they are sold.

Mercari also offers

Mercari Shops, allowing users to set up their own online stores. In 2021,

Mercari recorded earnings of $1 billion from $15 billion GMV, with a userbase of 19 million active users.

Mercari has been expanding its cross-border sales.

Grailed

Grailed is an online peer-to-peer marketplace that focuses on men’s fashion. The platform specializes in designer gear and offers digital authentication to ensure that the items are authentic.

Grailed has expanded its services with Heroine, a women’s streetwear-focused platform. The platform currently has 7 million users, and revenue figures are not disclosed.

Conclusion

While Vinted has a strong presence in the online marketplace for secondhand clothing, that doesn’t mean it’s the only player. Consumers have several options that offer authenticated high-end brands, mass-produced items, or curated luxury brands, making sustainable fashion accessible to everyone.

In the end, the choice between these options depends on personal preference and the consumer’s needs. In summary, the online marketplace for secondhand clothing is a growing market, and Vinted is a leader in this space.

However, there are several other competitors that also offer pre-loved fashion at affordable prices, including

Vestiaire Collective,

Depop,

The RealReal,

eBay,

ThredUp,

Tradesy,

Mercari, and

Grailed. Sustainable fashion has become increasingly popular among consumers looking for more ethical and eco-friendly choices.

The choice between these platforms depends on personal preference and consumer needs. While Vinted is a popular choice, exploring other options offers a variety of choices for every fashion need.

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