Lithuanian vintage fashion e-tailer Vinted, which made a profit for the first time in 2023, has announced it is broadening its business range to other categories. The first, introduced on the site a few weeks ago, is electronic products, signalling a notable change in Vinted’s market positioning.

“We are certain that, if we become big, we will be able to pay our invoices,” said CEO Thomas Plantenga speaking in Paris in 2019. Vinted’s strategy of expanding its range of fashion products eventually paid off in 2023, when the company first posted a profit, recording a net income of €17.8 million.

Vinted is keen to exploit the territory of high-end and luxury pre-owned goods specialists. For example, it has deployed a product verification service, based in Hamburg.

Vinted’s management remarked that introducing the electronic products category has different strategic implications. After all, electronic products were already featured on the site, though not in a section exclusively dedicated to them. Under ‘Electronics’, Vinted is now offering categories like music players, radios and speakers, video games and consoles, e-readers, and wearables.

“By adding the Electronics tab on our homepage, we are making pre-owned electronic products more accessible and affordable,” said Vinted. However, it’s not just a matter of segmenting the range, but also searching for new growth drivers.

While the European fashion market has been hit by the effects of inflation on consumer expenditure, Vinted experienced a 61% revenue growth in 2023, reaching €596.3 million.

In France, historically Vinted’s largest market, the e-tailer was the second-largest fashion e-tailer behind Amazon in terms of customer expenditure in H1, according to Kantar. Volume-wise, Vinted grabbed an 11.5% market share, down 1.1% compared to H1 2023.