We have advised longstanding client, Vinted, Europe's leading second-hand C2C platform focused on fashion, on its secondary share sale. The share sale has valued Vinted at €5 billion.
The transaction was led by TPG, a leading global alternative asset manager, and included other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities and Moore Strategic Ventures. All of Vinted's existing institutional investors remain invested in the company.
In 2023, the company delivered revenue growth of 61% and had a double-digit EBITDA margin. Vinted has become the European leader in its field, encouraging people to adopt new consumption habits and today, more than a third (37%) of Vinted members say that second-hand makes up at least half of their wardrobe.
Sam Holdsworth, Associate General Counsel at Vinted, said: "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, said: "I am delighted that we were able to support the team at Vinted with such an important milestone. Vinted represents a significant triumph within the European tech ecosystem, and it has been hugely rewarding helping them along their journey."
Our team was led by Ian Moore, corporate partner, alongside partners Paul Thorpe and Elinor Picton.
The wider Taylor Wessing team included:
- Corporate: Rosy Worsfold (Senior Associate), Harry Ruffell (Senior Associate), Richard Price (Senior Associate), Nell Cooper (Associate), Abi Easton (Associate) and Jack Cunningham (Associate).
- Regulatory: Charlotte Witherington (Partner) and Shaanil Senarath-Dassanayake (Associate).
- Technology/Commercial: Graham Hann (Partner), Matthew Quezada (Senior Associate), Nicholas Crossland (Senior Associate) and Nicholas Harrison (Associate).
- Employment: Paul Callaghan (Partner) and Katy Carr (Senior Counsel).
- Share incentives: Ann Casey (Partner), Katie Lewis (Senior Counsel), and Elliot Michaelson Taylor (Senior Associate).
- Pensions: Georgina Wardrop (Senior Associate).
- Tax: Graham Samuel-Gibbon (Partner), Liz Wilson (Partner) and Frederik Knottenbelt (Associate).
