The business started with a clear focus on buying and selling carefully selected second-hand garments. Following the success of the curated vintage jackets, Worn Vintage, which operates an e-commerce store and a physical store on Sankt Eriksgatan in Stockholm, has chosen to shift its focus.
During the latest financial year, the company has stepped up a gear to develop its range of recycled leather, or so-called upcycled leather. The company now creates its own designed garments from leftover materials, which are sold both in Sweden and internationally.
However, this transition requires capital and time. The report shows that the year has been marked by investments in product development. The company has also chosen to build up its inventory and invest further in the brand itself.
Shrinking Turnover and Red Figures
The investments cost money, and sales have not kept pace. When the annual report for 2025 is now on the table, the figures show a slowdown. Turnover for the full year amounted to 4.1 million Swedish krona. This is a decrease of 29 percent compared to the previous year, when the corresponding figure amounted to 5.8 million Swedish krona.
Profitability is also being tested during the company's transition phase. Operating profit for the year landed at around minus 821,000 Swedish krona, which is a deterioration from the previous year's minus 761,000 Swedish krona.
In total, the e-retailer reports a result after financial items of around minus 836,000 Swedish krona. At the same time as turnover has decreased, the company has also reduced its workforce, from an average of three employees in 2024 to two employees during the last year.
External Capital to Secure the Future
The company explains in the report that the year ended with a negative result due to the investments made in the business. In order to be able to finance continued product development and not lose momentum, Worn Vintage has now brought in external capital.
The e-retailer has taken out a loan from Almi of 250,000 Swedish krona, with the aim of strengthening working capital. The goal of the cash is to ensure that the business can continue to develop along the chosen path with its own design and a more circular business model.