An executive from the online resale platform Vinted stated on Monday that the company is witnessing a structural change in consumer behavior as habits around the resale economy take root.
Vinted is a C2C platform that allows users to sell pre-owned items such as clothing, electronics, and even furniture. Against the backdrop of a global rise in living costs and consumers increasingly seeking value, the company has experienced rapid growth in recent years.
As Vinted expanded into more European markets, the total value of goods sold on its platform increased by nearly 50% last year.
"This is a fundamental shift in consumption towards second-hand goods, and I believe this trend will continue," said Adam Jay, CEO of Vinted Marketplace. "Vinted was growing well even before the current economic difficulties, cost-of-living crisis, and inflation, and it has continued to perform strongly during these challenging and stressful times."
He made these remarks as Vinted completed a secondary share transaction of 880 million euros (approximately $1.02 billion) at the end of April, valuing the Lithuanian startup at over $90 billion.
Vinted's rapid growth and multi-billion dollar valuation have sparked intense market speculation about a potential significant initial public offering (IPO).
The company's solid financial position also suggests it is not under immediate pressure to go public, as it is cash flow positive and was able to raise nearly 1 billion euros in the private market.
Executives have hinted at an eventual IPO but have not provided a timeline. Jay stated he is satisfied with the current investors but declined to comment on the timing or location of any potential listing.
The secondary transaction, led by EQT, introduced new investors such as Schroders Capital and BlackRock and allowed existing shareholders like Baillie Gifford to increase their stakes.
Vinted stated at the time that the deal brought in "institutional long-term investors capable of holding positions across private and public markets, while providing liquidity for existing shareholders and employees." The company did not raise any new primary capital in this transaction.
Expanding Beyond Fashion and Europe
According to data from market research firm GlobalData, the online second-hand apparel market is growing rapidly, at twice the rate of the overall market.
Jay believes part of this explosive growth stems from the resale market being a win-win for both buyers and sellers. "This habit is forming, the massive social impact and climate impact... all of this combines into the Vinted equation."
Vinted has coined the term "Vinted Math," referring to consumers who view second-hand goods as a simple and more affordable option, and who consider resale value when purchasing new items.
According to the company's 2025 Impact Report, Vinted users saved 21.6 billion euros on fashion purchases in 2025 compared to retail prices, paying an average of 72% less than the original cost.
Vinted is now attempting to export this model across the Atlantic to new markets and new product categories.
"It took us a long time to decide to go beyond fashion. We really needed to be confident that our fashion marketplace was working well across Europe," Jay said.
"We were nervous because a lot of users told us they loved Vinted for its simplicity, ease of use, and very clear operations. We were worried we would lose that advantage as we started adding other categories."
Ultimately, there were enough signals to take the step, such as users creatively selling non-fashion items even before Vinted formally expanded its categories beyond clothing.
Vinted currently operates in 26 countries, with France and the UK being its largest markets. The company has been active in the United States since 2013 but only began more actively promoting its product and working to expand in that market earlier this year.
Jay said there is a "huge opportunity" in the U.S., but success may take "weeks, months, or even years."
Historically, it has been challenging for European tech and consumer companies to successfully transplant their business models to the United States.
Jay said one of the biggest challenges of entering the U.S. market is high shipping costs.
Vinted is also building its shipping and payment infrastructure through Vinted Go and Vinted Pay. The company's expansion into logistics, wallet infrastructure, and new markets is impacting its profitability.
Net profit for 2025 fell by 19% compared to the previous year, even as revenue grew by 38% to 1.1 billion euros. Its Gross Merchandise Value (GMV) soared by 47% to 10.8 billion euros.
The platform has a long way to go to compete with companies like eBay, which reported a GMV of $79.6 billion for 2025. eBay also recently stated it plans to acquire the fashion marketplace Depop from Etsy for approximately $1.2 billion to strengthen its fashion offerings and attract a younger consumer base.
"We are taking a long-term view," Jay said in response to whether rapid expansion is the best use of capital for a company eyeing the public markets. "We are making investments. All of these investments are the 'unglamorous' things—we are making those unglamorous investments that make second-hand the first choice globally."
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