There was a war in Europe for giving the second -hand digital market and we already have a clear winner: Vinned
Percentile, the Spanish startup, of resale of fashion items, has been for two months In a bankruptcy processin search of a lifeguard. Wallapop continues to compete in that market, but without clear leadership in it. And Vinned, meanwhile, sweeps. The resale sector in Spain and in Europe is in a change of cycle. The panoramic. The second -hand clothing is a hypercompetitive market, and Vinted not only survives in it: it is dominating it. It has managed to grow where others are going back or searched for a place where they settle without finding it. To achieve this, Vinned has diversified its catalog and has also done something not so common: to earn money with its activity. The context. Percentile was a pioneer. It was founded in 2012, thirteen years old, and operated in four countries, with almost a million customers and more than a dozen millions of garments sold. However, and despite the heavyweights of the risk capital they invested in it (François Derbaix or Cabiedes & Partners between them), has not resisted the price war of the Fast Fashion. Not even the increase in the second -hand clothing market, increasingly popular and widespread, has been able to compensate for that pressure. And now look for a buyer to avoid disappearance. Between the lines. The Percentile model contributed a lot of comfort to the user, because he did everything for him: collection, classification and sale. But it was more comfortable than profitable. He only accepted half of the garments and offered rather low margins. Now its founders They speak to focus on “higher quality brands”, but maybe it’s too late. In figures. Meanwhile, Vinned in 2024 … It has tripled its benefit before taxes: 95.4 million euros. 813.4 million euros in revenue, 36% more than in 2023. He managed to reach 23 markets … … already the 2,200 employees. It is valued in 5,000 million euros. In detail. A part of his secret is in the invisible: Vinted Go and Vinted Payits own logistics and payments units. Also Vinned Ventures, his investment arm. Vinned’s ultimate goal is not just selling clothes. That is just a part. The idea is to build a complete ecosystem around the resale. Yes, but. Wallapop competes and has millions of users, true. But his generalist approach has not allowed him to emerge in the resale of clothing. It is too broad to compete in a concrete niche, as Vinted does. It has a very large catalog, but its brand is not associated with the style, and that weighs in an environment (sell used clothes) in which trust is key. In addition, Vind has many filters to locate garments (size of any part of the body, color, etc.) of which Wallapop lacks. The alarm signal. As a percentile slid, the sector grows, so the problem does not come from a lower demand. The threat is in the Low Cost from Zara, Shein and company, which have changed the rules. Sometimes it is cheaper to buy new than second hand. Only platforms with a lot of scale, focus and efficiency can survive and be profitable. Percentile is staying the way to see if a new owner can correct his course, and Wallapop resists, but Follow in losses. Who wins is Vind. And now what. Vinned wants more: he has long opened his doors beyond clothes, and now he is going something beyond electronics or luxury. Although it runs the risk of opening so much that Wallapop’s problems to lead in fashion move to it. Predictably, “circular fashion” will continue to grow and European regulations will add pressure to the conventional textile industry. In Xataka | I am a seller with five stars in Wallapop. Thus surviving in this second -hand jungle Outstanding image | Vinted
