IMPROVED advises United Wardrobe on its sale to Vinted
- Date October 27th, 2020
- Transaction type M&A
- Sector Technology
- Sub Sector Marketplace (Secondhand Fashion)
Vinted, Europe’s largest online C2C marketplace dedicated to second-hand fashion, announced today the acquisition of United Wardrobe, the largest second-hand fashion platform in the Netherlands. United Wardrobe, founded by 3 Dutch students from the Wageningen University in 2014, has expanded from its base in the Netherlands to operate across Belgium, France, and Germany. Its member base has grown rapidly to over 4 million registered users in 5 years.
IMPROVED acted as the exclusive financial advisor to the shareholders of United Wardrobe on this cross-border transaction in second-hand fashion. The transaction will enable the combined group to accelerate its rapid expansion to new markets and extend its international footprint. With a combined member base of 34 million buyers and sellers across 11 countries in Europe, Vinted and United Wardrobe share a vision to make second-hand fashion the first choice worldwide by encouraging the growth of responsible fashion and the circular economy.
For IMPROVED this marks yet another successful transaction in the ever-growing marketplaces vertical. Understanding of the latest marketplace trends, including the increasing importance of the underlying financial and operational metrics, is key to contribute to the success of high-growth technology marketplaces. We are ready to leverage our unique marketplace knowledge and track-record to support like minded entrepreneurs aiming for a winning position.
“We have known the United Wardrobe team for some time and have huge respect for their
impressive growth trajectory, their passion and entrepreneurial spirit. We share the same ethos and mission: to make second-hand fashion the first choice worldwide” “Together, Vinted and United Wardrobe can scale faster – doubling our rate of expansion to new markets - and deliver a truly unique product to our community of members across Europe. The Netherlands boasts a strong and active community of second-
hand fashion lovers – and we’re thrilled to be able to strengthen our presence in this market.”
“It’s always been our goal to connect our buyers and sellers on one central European marketplace. As of today, United Wardrobe users will be able to transact with the international community of Vinted, and share pre-loved fashion from Amsterdam to Paris, and from Madrid to Utrecht – all with no seller fees, with secure payments
and simple cross-border shipping. We’re in the midst of a global ecommerce boom and fashion resale is benefitting from that. Joining together with Vinted will enable us to make the most of this opportunity and, together, help accelerate the global movement towards a more sustainable fashion industry.”
CEO, United Wardrobe
“Another deal with winners only .. this transaction brings together two second-hand fashion marketplaces that share similar values, missions and have highly complementary assets – a unique combination to fight fast fashion. To win that fight, you need size, power, and great teams. This combination will have a lasting impact and contribute to a more sustainable world.”
Managing Partner, IMPROVED