Lithuania’s Vinted, the online second-hand fashion marketplace, has decided to exit the Canadian market by February 12, 2024. Starting December 11, 2023, new user registrations in Canada will cease. Launched in 2021 on a unique technical platform, Vinted's Canadian operations faced sustainability issues and couldn't offer the consistent user experience found in its other markets.
A statement on the Vinted Canada website states: "In 2021, we launched Vinted in Canada using a different technical platform than we use in other countries. Unfortunately, it proved too challenging to maintain the standards of experience that we want to give our members worldwide. That’s why we’ve made the difficult decision to close Vinted in Canada for now. All features are no longer available, but you can still contact our support team and update your bank details to ensure you receive any outstanding funds."
The divergence in technical infrastructure led Vinted to conclude that maintaining this separate platform was inefficient. Vinted advised Canadian users to complete transactions and settle payments by the February deadline. Despite the exit, Vinted’s platform will continue to thrive in 19 other markets, including major regions like the U.S., U.K., France, Germany, and the Nordics. This strategic move allows Vinted to allocate resources more efficiently and maintain high standards where it operates most effectively.
Interestingly, Vinted's overall growth remains strong. The company reported its first profit in March 2024 and saw a remarkable 61% revenue growth in 2023, accumulating €596.3 million.
