Vinted’s £ 3bn valuation shows demand for second-hand goods is booming Business

“People have also used the pandemic as an opportunity to clean their own wardrobes,” Stephens adds. With charity stores forced to close during lockdowns, consumers have turned to websites and apps like Depop, eBay, and Vinted to download merchandise and declutter their homes, which could cause spelling issues for people. physical points of sale.

The latest £ 214million cash injection into Vinted, the second-hand market, highlights investor appetite for the sector.

“There has been an increasing importance of sustainability in the minds of consumers, which we had seen change even before Covid. Now it’s even more in the foreground, ”says Carolina Brochado, Partner and Investment Advisor at EQT, the cornerstone of Vinted’s fundraising.

“We have also seen that, especially for the younger generations, they are much less concerned with novelty than with things like waste, being smart with their money, as well as style and functionality. They don’t really care whether it’s new or not, and they actually find that firsthand can be a waste.

She adds, “I think the most interesting part for us is that we think this market is growing by over 40% year on year and we think it will continue to grow as much in the years to come.”