Taylor Wessing advises Vinted's share sale
Taylor Wessing advised Vinted on its €340 million secondary share sale, valuing the company at €5 billion
Taylor Wessing has successfully advised its longstanding client, Vinted, on a significant €340 million secondary share sale, which has valued the leading European second-hand C2C fashion platform at an impressive €5 billion. The transaction was spearheaded by TPG, a prominent global alternative asset manager, alongside other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, and Moore Strategic Ventures. Notably, all of Vinted's existing institutional investors have chosen to remain invested in the company.
Vinted has seen remarkable growth in recent years, reporting a 61% increase in revenue in 2023 while maintaining a double-digit EBITDA margin. This growth reflects the platform's success in promoting sustainable consumption habits, with over a third (37%) of its members indicating that second-hand clothing constitutes at least half of their wardrobe.
Sam Holdsworth, Associate General Counsel at Vinted, expressed high praise for the Taylor Wessing team, stating, "The Taylor Wessing team were absolutely fantastic—they covered huge amounts of ground super efficiently and were able to both pre-empt issues and offer solutions in a truly seamless service offering. Their quality, diligence, and commercial mindedness shone through across all levels of the team. We are very grateful for their partnership in deals like these."
Ian Moore, corporate partner at Taylor Wessing, shared his delight in supporting Vinted during this crucial milestone. He noted, "Vinted represents a significant triumph within the European tech ecosystem, and it has been hugely rewarding helping them along their journey."
The Taylor Wessing team that led this significant transaction included corporate partner Ian Moore, along with partners Paul Thorpe and Elinor Picton. As Vinted continues to lead the charge in the second-hand fashion market, this successful share sale underscores the growing investor confidence in sustainable business models within the European tech landscape.