Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M, said on Monday it was opening in 20 more European countries, in a bet demand for sustainable fashion will keep growing.
Vinted is minted and is about to embark on a major growth initiative. The business, which claims to be the largest online C2C marketplace in secondhand fashion across Europe, has secured €250 million in new funding.
Cross-border Commerce Europe, a cross-border commerce analyst, has ranked the top 100 most sustainable cross-border marketplaces in Europe. Top of the list, based on 10 factors, are Ebay, Etsy, Rakuten and Amazon.
Vinted, an online marketplace for second-hand clothes, has surfed a sustainable fashion wave to become Lithuania's first technology startup to reach "unicorn" status with a valuation of over $1 billion.
After specialising in luxury, the pre-owned fashion e-tailer is re-focusing on affordable luxury brands, while adapting its purchasing options and commissions to the mid-market segment, and eyeing global expansion.
Having arrived in Spain a year ago, Vinted has come to an agreement with local competitor Chicfy, which will shut down its portal and invite its users to migrate to the Lithuanian specialist's platform.