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: 563

Employment Effects

Announcement Date: 21-12-2020
Type of Restructuring: Business expansion
Employment Effect Start: 01-01-2021
Foreseen End Date: 31-12-2021
Planned Job Creation: 400

Additional Information

Vinted, the clothing exchange and sale platform, is to create 400 new jobs in Vilnius in 2021. The company will be mainly looking for programming and technology specialists, product and design experts and announced it will also hire 200 employees in other countries. At the time of announcement, the company employs 563 people in Lithuania.

In 2019, the company attracted €128 million venture capital investment and became Lithuania's first start-up company valued at over €1 billion. Recently the company has moved to a new office and plans to further expand in the following 1-2 years. 

Vinted is a Lithuanian start-up offering an online marketplace where users can sell, buy and swap second-hand clothing. With its headquarters in Vilnius, the company also has offices in Berlin and Prague.

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