Wednesday, February 8, 2023
HomeeCommerceVinted 118 million euros within the pink

Vinted 118 million euros within the pink


Vinted, {the marketplace} for secondhand trend, has made 118 million euros in losses in 2021. That could be a fivefold enhance in comparison with a 12 months earlier than, when the corporate was solely 24 million euros within the pink. On the identical time, revenues elevated from 148 million to 245 million euros.

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That’s what the corporate’s annual report says, Dutch web site Quote stories. The Lithuanian peer-to-peer platform acquired Rebelle this previous summer season, a Swedish luxurious trend market. Vinted operates in 14 nations in Europe.

Advertising bills tripled

The losses are primarily on account of towering advertising and marketing bills. In 2021, Vinted spent a whopping 193 million euros on promoting. That’s thrice as a lot in comparison with the 12 months earlier than.

In 2021, Vinted spent 193 million euros on advertising and marketing.

On the identical time, income has elevated. In comparison with 184 million euros of turnover in 2020, Vinted generated 245 million euros of revenues in 2021.

Vinted valued at 3.5 billion euros in 2021

In line with the annual numbers, {the marketplace} nonetheless has cash to spare. On the finish of 2021, there was 239 million euros in money alongside 50 million euros in company bonds. In any case, in Could of final 12 months Vinted raised 250 million euros in progress capital. The corporate was valued at 3.5 billion euros on the time.

‘Chosen to extend fee of progress’

The corporate shouldn’t be involved in regards to the fivefold enhance of its losses prior to now 12 months. The annual report says the administrators ‘have chosen to spend among the remaining money on advertising and marketing so as to enhance the speed of progress of the enterprise’.

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