Fashion marketplace Vinted has announced that it has appointed Martin Scheepbouwer as non-executive chairman.
Scheepbouwer (LinkedIn profile) has a strong background in the classified and marketplace sector. He spent close to a decade at OLX Group, latterly as chairman, and, before that, as both CEO and a member of the Prosus executive team.
Prior to joining OLX, he worked for Schibsted’s online classifieds business, where he served first as vice president of operations for online classifieds and then as SVP and general manager for Southern Europe.
He joined Schibsted from EBay, where he was finance director for the Netherlands.
Scheepbouwer is the first chairman of Vinted not to hold a management position in the company, it has been reported.
Vinted posted revenue of €245 million ($263 million U.S.) in 2021, up by 63% year on year (y-o-y). Its net loss stood at €105 million in 2021, compared to a net loss of €21 million in the previous year. During 2021, the company’s marketing spend almost trebled, surging 172% y-o-y to €192 million.
Founded in Vilnius by Milda Mitkute and Justas Janauskas, Vinted is now operational in Spain, France, Luxembourg, Belgium, Netherlands, Germany, Austria, Czech Republic, Poland, the U.K., Italy, Portugal, the U.S., Canada and Sweden.
In May 2021, the company closed an all-equity investment round at a valuation of $4.5 billion U.S. In addition to EQT, Vinted investors include Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners and Sprints Capital.
While its competitors, such as Poshmark and ThredUp, have gone public as part of their growth strategies, Vinted has been busy acquiring other fashion resale marketplaces: Spain-based Chicfy in 2019, Netherlands-based UnitedWardrobe in 2020 and Germany-based Rebelle in 2022.