The market value has tripled in two years, and the second-hand clothing platform Vinted continues to be hot

During the epidemic, more and more second-hand merchants have turned their attention to the Internet. Both merchants and platforms can benefit from it. The transaction volume of second-hand clothing in Europe has increased significantly . In just two years, the market value of the second-hand clothing platform Vinted has more than tripled to 3.5 billion euros .

According to information published in the Financial Times , Vinted, an online second -hand clothing platform , has raised 250 million euros to expand further, explore new markets, and further improve payment systems and transportation methods . It is reported that the lead investor in this round of financing is Sweden's EQT Group .

In addition, the company's valuation in the financing round is particularly eye-catching . Some experts speculate that the current market value of the platform is about 3.5 billion euros. In the previous round of financing at the end of 2019, its valuation was only 1.1 billion euros . After two years of rapid development, its value has more than tripled, which shows how popular the second-hand market is.

It is reported that the second-hand fashion platform Vinted was founded in 2008 and has 11 million users worldwide . It is mainly active in the French and German markets, and also operates in the United States, the United Kingdom, Austria, Poland, the Czech Republic and Lithuania.

The survey shows that the COVID-19 pandemic and changes in consumer concepts have created a boom in the second-hand clothing market. Since the outbreak, people at home have begun to clean out their wardrobes; secondly, the pandemic has also caused many workers to lose their jobs, forcing them to be frugal. In addition, in recent years, the concept of sustainability has become a trend of the times, and more and more people are adhering to the concept of sustainability when shopping. All of these have led to a surge in demand for second-hand clothing.

Second-hand clothing is an emerging market in the clothing category and is gradually rising . Vinted CEO Thomas Plantenga said: The second-hand clothing market is still in its early stages , and in the long run, second-hand clothing will account for half of the entire fashion market.

The Boston Consulting Group has conservatively predicted that the global market size of second-hand clothing, footwear and accessories is between $30 billion and $40 billion, and is expected to continue to grow at an annual rate of 15%-20% within five years. By 2023, the second-hand clothing market share will account for at least 25% .

In this context, many traditional fashion retailers have also entered the second-hand market . Since its listing in March , the share price of ThredUp , a US second-hand platform , has risen by 34% ; Zalando has developed the second-hand platform Zircle , and H&M has also launched the second-hand clothing online platform Sellpy in Sweden.

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Vinted