EMCC European Monitoring Centre on Change

Vinted

Company/Organisation:
Vinted

Geographic Location

Country: Lithuania
Region: Vilniaus apskritis; Lietuva
Location of affected unit(s): Vilnius

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.91 - Retail sale via mail order houses or via Internet
Number Employed: 318

Employment Effects

Announcement Date: 28-11-2019
Type of Restructuring: Business expansion
Employment Effect Start: 28-11-2019
Foreseen End Date: 28-04-2021
Planned Job Creation: 137

Additional Information

Vinted, the clothing exchange and sale platform, intends to create around 137 new jobs in Vilnius by the end of 2021. Vinted is a Lithuanian startup offering an online marketplace where users can sell, buy and swap second-hand clothing. According to the management, the company has attracted €128 million venture capital investment and intends to nearly double the number of employees in the following 1-2 years. Currently the company employs 318 employees. Vinted announced earlier its intention to create around 163 new jobs in Vilnius by the end of 2021 (see previous case Vinted 2018 LT). With its headquarters in Vilnius, the company also has offices in San Francisco, Munich, Paris, Warsaw, and Prague.

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