Vinted Company and Branding Analysis

Vinted Company and Branding Analysis
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March 3, 2023
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Table of Contents Introduction. 3 Vinted Overview.. 3 Evaluation of Vinted's Strategic Positioning. 4 Mission and vision. 4 Brand strategy. 4 Positioning. 5 Vinted's Brand Expressions. 5 Visual Identity. 5 Consistency. 5 Effectiveness. 5 Vinted Audience. 6 Rebranding Presentation of Vinted. 6 Functional Attributes. 7 Emotional advantages. 7 Values and beliefs. 7 Brand Personality. 7 Brand Essence. 7 Rebranding Justification Based on Analysis: 7 Vinted Strategy and Frameworks. 8 Porter's generic strategy applied to vinted branding. 8 Pestel analysis. 9 Vinted's Brand Development Process. 11 Conclusion. 11 References. 13  Introduction
Vinted, founded in Vilnius, Lithuania, exemplifies strategic flexibility and creative brand development in the dynamic fashion business. Pavarini (2020) thoroughly examines Vinted's trajectory and sheds insight on its ascent in the online second-hand clothing market. This study uses the PESTEL framework and Porter's Five Forces as analytical tools to explore deeper. Using these frameworks requires understanding the interaction of competitive pressures and macroenvironmental factors that influenced Vinted's rise. Vinted's market dominance resulted from a complex web of choices, reactions, and brand building explored in this paper.
Vinted Overview
Vinted was started in 2008 due to Milda's straightforward decluttering in Vilnius, Lithuania. Pavarini (2020) examines that With the help of Justas, a website for sharing Milda's extra clothing among friends was created, unintentionally laying the groundwork for a ground-breaking online marketplace for secondhand apparel.
However, after starting small, Vinted has grown to serve 16 countries from offices in major cities, including Berlin, Prague, and Amsterdam. As an outcome of this meteoric rise, Vinted is now recognized as a model of creativity and flexibility within a dynamic business-like fashion. According to Saigol (2021), the company's over $4 billion valuation and status as one of Europe's fastest-growing unicorn businesses give it considerable market influence. Vinted's rapid growth can be attributed to its user-centric platform, which has received praise for its seamless functionality (Théot, 2020). The platform's design enables rapid product uploads and enhances effective buyer-seller communication. Vinted's commission-based company structure aligns revenue and user experience with Théot's customer requirements.
Moreover, the growing customer interest in eco-friendly fashion is helping Vinted gain popularity (Zisa, 2022). Vinted's focus on garment recycled and reused is a concrete response to the environmental impacts of the fashion industry, which has found particular favor with environmentally conscious millennials. Vinted, under the direction of CEO Thomas Plantenga and COO Mantas Mikuckas, continues to grow while maintaining the founding spirit upheld by Milda and Justas. Its business concept integrates sustainability, user experience, and market demand. Therefore, for the future of the online fashion sector, Vinted's success story illustrates the power of astute market analysis and creative problem-solving.
Evaluation of Vinted's Strategic Positioning
Mission and vision
Vinted has positioned itself as an advocate for eco-friendly fashion from its inception (Palomo-Domínguez, Elías-Zambrano & Álvarez-Rodríguez, 2023). The company's mission is to promote secondhand fashion as a preferred choice in response to the increasing global demand for environmentally friendly consumer options (Pavarini, 2020). The company's vision is to shape long-term attitudes toward reduced waste and ethical consumption, going beyond mere market leadership.
Brand strategy
Sustainability, accessibility, and a focus on the local community form the backbone of Vinted's branding strategy (Prokopets, n.d.). Targeting both the environmentally concerned and the economically astute clientele, the initial emphasizes affordability without sacrificing sustainability. The subsequent version broadens its appeal beyond the elite, targeting those prioritizing practicality and individual preference over conformity. The focus of an additional and most distinctive objective is community. With the help of Vinted, shopping for clothes can be an environmentally conscious and socially engaging experience.
Positioning
Vinted carefully designs its brand development approach. The business has spent on audience research to ensure that its brand aligns with company values and consumer desires. Additionally, the tone of Vinted is apparent in its marketing materials and is meant to be casual and relatable (Wright, 2023). This sets them apart from competitors such as Depop, which adopts a diverse and trend-focused approach, and mainstream fast fashion brands that often lack interactive communication. Vinted emphasizes user-friendliness and approachability in a congested market by promoting simplicity.
Vinted's Brand Expressions
Visual Identity
Vinted's brand image, sustainability in the modern age, is reflected in the company's visual identity. The logo gently captures the circular cycle of used clothing with overlapping arrows. The brand's dedication to sustainability is combined with modern design principles through a mostly pink color scheme that conveys optimism and femininity (Kendra, 2022). Furthermore, the platform's carefully picked secondhand images highlight product distinctiveness and the brand's commitment to affordability.
Consistency
Vinted's dedication to consistency is apparent throughout all of its platforms. Its website, app, and social networking channels all use the same logo, color schemes, font, and photography, strengthening its credibility (Wright, 2023). This constant brand expression is essential for gaining and keeping new customers' trust by immediately informing them of the company's fundamental principles and products.
Effectiveness
Differentiating itself from other famous quick fashion firms has been a goal of Vinted's brand expression approach. While industry leaders like H&M, Shein, and Zara frequently rely on videography to promote their brands (Wright, 2023), Vinted adopts a more straightforward and approachable style. The slogan "Don't wear it?" "Sell it!" perfectly embodies this strategy, effectively summarising the brand's core attributes and practicality. Vinted's brand expressions have been meticulously artfully crafted, integrating its fundamental principles with contemporary aesthetic elements. H&M's Conscious Advert still takes a top-down, authoritative approach to sustainability. According to Pavarini (2020), its rigorous attention to consistency and efficacy puts it at the forefront of the $64 billion used apparel sector, which is expected to grow by 2025.
Vinted Audience
The demographic and psychological makeup of Vinted's customer base is remarkable. The site is most popular with (1) Europeans just starting in the working world, (2) college students living on campus, and (3) general European people looking for affordable fashion options. Vinted has attracted a specific group interested in distinctively and unconventionally items, particularly those with a vintage or retro aesthetic, going beyond financial limitations. Additionally, a market segment aware of the adverse effects of rapid fashion is attracted to Vinted's environmentally friendly goods. The dedication to sustainability is reflected in the purchasing behaviors of this environmentally conscious group. Vinted.com has a slightly higher proportion of female users, accounting for 55.48%. Most of its users are concentrated in the 25-34 age group.
Rebranding Presentation of Vinted
Following the brand pyramid concept, the steps of Vinted's rebranding journey emerge evident:
Functional Attributes
Vinted provides a platform for purchasing and selling used apparel, focusing on efficiency and sustainability (Bowler, 2023). Its primary features are the opportunities for buying and selling pre-owned goods and their environmental benefits.
Emotional advantages
Vinted makes the most of the community-building and interaction since 69% of Generation Z thinks brands should encourage sustainable shopping. As a result, customers can feel like they are contributing to the growing sustainable fashion industry.
Values and beliefs
Vinted promotes sustainability, accessibility, and community. The company sees itself as more than just a resale platform but as a leader in promoting sustainable fashion and fostering community-driven shopping experiences.
Brand Personality
Vinted presents itself as approachable, neighborhood-focused, and environmentally friendly. The brand presents itself to eco-conscious consumers as a sensible option by emphasizing the low barriers to entry for selling and the environmental benefits of buying pre-owned items.
Brand Essence
"Make secondhand the first choice." The brand essence of...