In a strategic move designed to attract high-end fashion sellers, Vinted, the Lithuanian second-hand specialist, has launched its product verification service for items priced at 100 euros or more. This development follows rigorous testing and aims to boost consumer confidence in premium second-hand fashion.
The product verification service is available as an optional add-on for buyers of eligible items, priced at a reasonable 10 euros. Vinted has assembled a team of skilled and experienced professionals based in Hamburg to meticulously inspect and authenticate these premium items. Initially, this service is accessible in key European markets, including France, Italy, Germany, Belgium, and the Netherlands. This expansion aligns with Vinted’s strategic growth, following its acquisition of the German luxury resale platform, Rebelle, last year.
Buyers can easily request verification through a dedicated badge on product pages. Eligibility depends on the brand and selling price. Presently, approximately a hundred prestigious brands meet these criteria, including Bottega Veneta, Céline, Jacquemus, Adidas, and New Balance. Vinted is determined to expand its verification capabilities gradually, encompassing more brands, markets, and product categories.
Adam Jay, CEO of Vinted, emphasizes the company’s dedication, stating, «Since Vinted’s inception 15 years ago, our mission has been to make second-hand fashion the preferred choice for everyone. This new service represents a significant step towards building trust within our community. We’ve worked diligently to offer reliable designer item verification at an affordable price.»
This launch signifies Vinted’s strategic push to dominate the European second-hand fashion market. The landscape has seen Vinted and Vestiaire Collective carve their niches, with Vinted focusing on accessibility and affordability.
This announcement follows Vinted Go, Vinted’s logistics division, recently acquiring the Dutch logistics company Homerr. This strategic move grants Vinted access to an extensive network of pickup and drop-off points that Homerr has developed in the Benelux region since 2016. Vinted Go now boasts an impressive network of 100,000 pickup points across Europe, including an expanding array of automated lockers featuring the group’s branding.
In 2022, the Vinted group reported a remarkable 51% increase in revenue, reaching 370.2 million euros. During this period, the company successfully reduced losses from 118.2 million euros to 47.1 million euros. With a dedicated workforce of 1,502 employees, Vinted serves an impressive 80 million members across 19 European and American markets, solidifying its position as a dominant player in the second-hand fashion industry.
