Second-hand fashion specialist Vinted selects Oracle NetSuite as its enterprise resource planning system
Vinted, an online consumer-to-consumer marketplace dedicated to pre-loved fashion, reports that it is using Oracle NetSuite.
With the tech, it has been able to take advantage of an integrated business system to consolidate financial processes, enhance operational consistency across multiple entities, and improve data visibility throughout its departments.
Founded in Lithuania in 2008, Vinted has grown to become a European leader, with millions of members across over 20 markets.
During this expansion, it became increasingly important for it to streamline its financial management, as it relied on eight disconnected accounting applications, making it challenging to achieve a cohesive and integrated view of its financial data.
“We are committed to innovation and finding ways to make second-hand the first choice and empowering its members to buy and sell second-hand items,” says Ieva Karklytė, Finance Systems Team Lead, Vinted.
“With NetSuite, we can access data at a granular level, better understand our data flow and have a reliable tool that can handle Vinted’s expansion.”
“The second-hand clothing market is booming and Vinted is leading the way in giving a new life to fashion items,” says Nicky Tozer, Senior Vice President, Europe, Middle East and Africa (EMEA), Oracle NetSuite.
“With NetSuite, Vinted has been able to increase visibility across its global operations and establish a scalable foundation for growth.”
2024 RTIH INNOVATION AWARDS
ERP systems are a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.
The awards, sponsored by CADS, 3D Cloud, Retail Technology Show 2025, and Business France, celebrate global tech innovation in a fast moving omnichannel world.
It’s free to enter and you can do so across multiple categories.
Key 2024 dates
Friday, 25th October: Award entry deadline
Tuesday, 29th October: 2024 shortlist revealed
30th October-6th November: Judging days
Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.
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