European secondhand fashion marketplace Vinted has acquired what is claimed to be the largest secondhand fashion platform in the Netherlands, United Wardrobe.
Announced today (27 October), the transaction will enable the combined group to accelerate its expansion to new markets and extend its international footprint. With a combined member base of 34m buyers and sellers across 11 countries in Europe, Vinted and United Wardrobe share a vision to make secondhand fashion the first choice worldwide by encouraging the growth of responsible fashion and the circular economy.
From this week, the two platforms will gradually be integrated, and users of United Wardrobe will be invited to migrate their user accounts to Vinted. United Wardrobe members will join Vinted’s connected international platform, allowing them to easily transact across one combined marketplace spanning the Netherlands, France, Spain, Belgium, and Luxembourg.
United Wardrobe members will also benefit from Vinted’s zero sellers’ fees, while members of both platforms will enjoy access to a wider variety of items and a larger community of potential buyers, and benefit from integrated payment systems and a range of shipping options.
“It’s always been our goal to connect our buyers and sellers on one central European marketplace,” says Sjuul Berden, United Wardrobe CEO.
“We’re in the midst of a global e-commerce boom and fashion resale is benefiting from that. Joining together with Vinted will enable us to make the most of this opportunity and, together, help accelerate the global movement towards a more sustainable fashion industry.”
Vinted completed a Series E funding round in November 2019, bringing its valuation to more than EUR1bn. In the 17 months to that event, it recorded a fourfold growth rate.
United Wardrobe, founded by three Dutch students from Wageningen University in 2014, has expanded from its base in the Netherlands to operate across Belgium, France and Germany. Its member base has grown rapidly to over 4m registered users in five years.
The deal, the terms of which were not disclosed, will see United Wardrobe CEO Sjuul Berden, COO Maud Behaghel and CTO Thijs Slijkhuis take on leadership roles in the combined business. United Wardrobe will be integrated into the Vinted business and will continue to be based in Utrecht.
A recent survey conducted by global pre-owned fashion platform Vestiaire Collective and Boston Consulting Group found the share of secondhand clothing in closets is predicted to grow from 21% in 2020 to 27% in 2023 as the impact of the Covid-19 pandemic has accelerated mounting environmental concerns among consumers.
The clothing resale market is currently estimated to be worth US$30-$40bn, and is forecast to grow by a CAGR of 15% to 20% globally over the next five years. This expected to be even higher in developed markets, which could see a 100% year-on-year growth.