Explainer: Will the surge of secondhand change fashion? [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
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Source: Yahoo! Finance
Vinted will also be supporting Oxfam's Secondhand September event this year. The annual campaign encourages consumers to choose secondhand clothing in a bid to reduce the fashion industry's impact on the planet. In recent years, secondhand fashion has become increasingly popular with consumers. In May 2024, Vinted reported its first profit and an impressive 61% growth in revenues to a total of €596.3m ($636.3m). Vinted's success seems to have inspired US-based online marketplace eBay, which announced earlier this year that it would r emove fees for individual sellers on preloved fashion items eBay said the move was aimed at supporting the circular fashion drive and diverting clothes from landfill but the change brought its policy closer in line with rivals Vinted and Depop. In June, analysis from climate technology startup Vaayu found Vinted members were choosing to purchase fewer, longer-lasting items of clothing over higher volumes of fast fashion. At the time, Vinted's
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