LSN : News : Stat: C2C second-hand fashion platform Vinted makes first-time profit

Bang & Olufsen revives its iconic Beosystem 9000c CD player

Bang & Olufsen Beosystem 9000c, Denmark

Global – Bang & Olufsen’s Recreated Classics series continues to capture the essence of nostalgia with the release of the refurbished and updated Beosystem 9000c CD player priced at £45,000 ($55,000, €50,000).

Mads Kogsgaard Hansen, head of product circularity and portfolio planning at Bang & Olufsen, highlights the importance of the Recreated Classic series in a statement: ‘We are showcasing how Bang & Olufsen’s unique capabilities within sound, design and craftsmanship are creating long-lasting, circular products. We want to demonstrate that a second-life product can be just as attractive as a new product.’ The restoration process involved sourcing original Beosound 9000 units, refurbishing each component and reintroducing them with modern enhancements.

This expansion series reflects a consumer preference for nostalgia and a revival of physical media. Hansen says: ‘Vinyl and CDs have returned to being something special, where people invest time and energy to connect with the music and artists they love.’

This limited-edition release not only pays homage to Bang & Olufsen’s rich heritage but also shows the longevity of timeless design. For more insights on how businesses are jumping on the trend of refurbishing existing products, head to our sustainability topic.

Strategic opportunity

Consider how your brand can innovatively resurrect its famous designs. This will create nostalgic feelings for the consumer while putting authenticity and circularity at the heart of your product design strategy

Airbnb is offering unique stays in pop-culture marvels

The UP House by Airbnb, Photography by Eugene T'Jean Davezies, US

Global – Airbnb has launched its Icons programme, offering a curated selection of unique experiences. The inaugural batch comprises 11 immersive encounters, ranging from fictional abodes to rendez-vous with celebrities such as Kevin Hart.

Highlighting the collection is a faithful recreation of the floating house from Pixar's beloved movie Up – suspended by a crane for guests’ enjoyment. Additionally, visitors can relish slumbering in the clock tower of Paris’s Musée D’Orsay, reimagined as a lavish bedroom by designer Mathieu Lehanneur, coinciding with the upcoming summer Olympics.

For now, these experiences, selected through a competitive process, are offered at no cost or for under £80 ($100, €92.80). To secure a spot, travellers must submit written entries during a designated period, with 4,000 lucky guests receiving coveted golden tickets for the upcoming year.

The launch follows Airbnb’s trend of offering unique accommodation, including Barbie’s Malibu DreamHouse and Shrek’s swamp cottage. Each experience is meticulously crafted, with properties constructed from scratch or revamped to evoke specific themes, such as the X-Mansion from the X-Men series or Prince’s Purple Rain house. From a night at the Ferrari Museum to a visit to Bollywood star Janhvi Kapoor’s cherished childhood retreat, Airbnb’s Icons experience evidences the growth of the Traveltainment Market.

Strategic opportunity

Consider how to leverage the power of pop culture (taking cues from books, films, music and tv) to create narrative-driven social experiences that will help elevate a holiday into an unforgettable experience

This Los Angeles chess club has become a dating paradise

Photography by Tima Miroshnichenko

US – Nestled in the heart of Santa Monica, an unassuming late-night chess haven has become the latest hotspot for LA singles. Every Thursday night, a diverse crowd of 20– and 30–somethings enters the LA Chess Club in a spacious warehouse-style space. Rows of tables adorned with chess boards set the stage for an evening of strategic gameplay and social mingling.

House music sets the mood, drinks flow freely and on-site pizza-making adds to the ambience. For the adventurous, tattoo artists stand ready to immortalise the experience in ink. ‘I just wanted to play chess,’ founder Michelle Kong told the Los Angeles Times; she has now left her job in finance to focus on the club.

The event is not just about playing chess and finding love or friendship: the chess club also offers a space for individuals to connect in a post-pandemic world hungry for genuine interaction. The clubs commitment to inclusivity is evident in its pricing structure – attending the event costs £48 ($60, €56) for men, with free admission for women. With almost twice as many women attending as men, Kong is challenging the status quo.

As seen in our Reading Raves microtrend report, LA Chess Club is one of the many refreshing alternatives to traditional nightlife, catering to those seeking intellectual stimulation and authentic connections.

Strategic opportunity

Consider where your consumers’ communities are. How can you change some of these social spaces from online to in-person? How can you support people to find the connections they are craving?

Stat: C2C second-hand fashion platform Vinted makes first-time profit

Hermès Madison Avenue, New York, US

Global – Pioneering platform for pre-loved fashion Vinted has achieved its first-ever profit, marking a significant milestone in the burgeoning second-hand clothing market. The company’s successful turnaround, from a £17.4m ($21.8m, €20.4m) loss in 2022 to a £15.2m ($19m, €17.8m) profit in 2023, underscores the growing popularity of sustainable fashion choices. The company’s revenue surged by 61% to £510m ($639m, €596.3m) in 2023.

Thomas Plantenga, CEO of Vinted, hailed the achievement, stating: ‘We are at the forefront of a market with huge potential.’ He emphasised the company’s commitment to balancing profitability with investment opportunities, and its mission to promote sustainable fashion practices. Vinted’s expansion into new markets including Denmark, Finland and Romania, coupled with the enhancement of its delivery service Vinted Go, has contributed to its financial success.

The rise of platforms like Vinted and Depop signifies a shift in consumer behaviour, particularly among younger demographics, who are drawn to the sustainability and affordability of second-hand clothing.

This trend has been further propelled by societal awareness of fashion’s environmental impact and the cost-of-living crisis. However, as seen in the Overconsumption Mindset, some Gen Z consumers are replacing fast-fashion addiction with endless orders on Depop and Vinted.

Strategic opportunity

As explored in Luxury Recrafted, the next step for pre-loved fashion professionals is to build trust with customers. Can you implement rigorous authentication processes to ensure the authenticity and quality of pre-loved items?