Vinted boss sees big shift in consumer behaviour as second hand booms
Online resale app Vinted is seeing a structural shift in consumer behavior as habits form around the resale economy, the company’s marketplace boss told CNBC on Monday.
Vinted, a consumer-to-consumer platform that allows customers to sell unwanted items such as clothing, electronics and even furniture, has experienced rapid growth in recent years, driven by consumers increasingly seeking value in an environment where global living costs are rising.
The value of products sold on Vinted increased by almost 50% last year as it launched in more European markets.
“This is a fundamental shift in consumption toward second-hand, and I think it’s here to stay,” Adam Jay, CEO of Vinted Marketplace, told CNBC. “Vinted was growing well before the current economic challenges, cost of living crisis and inflation, and has continued to grow well in times of hardship and stress.”
His comments were echoed by Vinted in a late April 880 million euro secondary share transaction ($1.02 billion), the value of the Lithuanian startup is over $9 billion.
Vinted’s rapid growth and multibillion-dollar valuation have fueled intense speculation about a potential blockbuster IPO.
The company’s solid financial health also signals that it is under little pressure to go public anytime soon. It is cash positive and has the capacity to raise private capital of around one billion euros.
Executives signaled an upcoming IPO but did not give a timeline. Jay said he was pleased with existing investors but declined to comment on the timing and location of a potential IPO.
The secondary transaction spearheaded by EQT attracted interest from new investors such as Schroders Capital. Black Rockand has seen existing shareholders such as Baillie Gifford increase their positions.
Vinted said at the time that this creates “institutional, long-term investors who can gain a foothold in private and public markets while providing liquidity to existing shareholders and employees.” The Company did not raise any new capital in this transaction.
Going beyond fashion and Europe
Secondhand clothing online is growing rapidly, twice as fast as the overall market, according to market research firm GlobalData.
This explosive growth is partly due to the fact that the second-hand market represents a win-win relationship for buyers and sellers, according to Jay. “You get into this habit, you have a huge social impact, climate impact, and those things… make up the Vinted equation.”
Vinted coined the term “Vinted math” in reference to consumers who view second-hand as an easy and more affordable option and consider resale value when purchasing new items.
Vinted users 21.6 billion euros were saved from fashion According to the company’s 2025 Impact Report, people pay an average of 72% less than the original price compared to retail prices in 2025.
Vinted is now trying to take this formula across the Atlantic and into new categories.
“It took us a long time to decide to go beyond fashion, and we really needed to make sure our fashion marketplace worked across Europe,” Jay said.
“We were nervous because a lot of the things our members said they loved about Vinted was that it was simple, it was easy to use, it was really obvious how it worked, and we were worried that we would lose that when we started layering in other categories.”
After all, Vinted had enough signals to make the breakthrough, such as feedback from users who were creative about selling non-fashion items even before officially expanding their category beyond ready-to-wear.
LONDON, ENGLAND – JUNE 08: Adam Jay, CEO of Vinted Marketplace, speaks to delegates during an interview during day one of London Technology Week at Olympia on June 08, 2026 in London, England. Attracting the world’s leading technology companies such as Microsoft, Amazon Web Services and Google Cloud, London Technology Week brings together industry innovators, policy makers and investors to discuss the latest developments in the technology world. This year, the Deep Tech Stage includes innovations in the fields of space, robotics, science, quantum and artificial intelligence. (Photo: Leon Neal/Getty Images)
Leon Neal | Getty Images News | Getty Images
Vinted currently has a presence in 26 countries; The largest markets are France and England. The company has been operating in the US since 2013, but earlier this year it became more active in marketing its products and growing that market.
Jay said there was a “tremendous opportunity” in the U.S. but success “could take weeks, months, maybe years.”
It has historically been difficult for European technology and consumer companies to successfully bring 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 the shipping and payment infrastructure through Vinted Go and Vinted Pay. Logistics, wallet infrastructure and expansion into new markets impact the company’s profitability.
Net profit decreased by 19% in 2025 compared to the previous year. In fact, revenue increased by 38% to 1.1 billion euros. Its gross merchandise value (GMV) increased by 47% to €10.8 billion.
The platform still has a long way to go before it can compete with the likes, for example. eBayIt reported GMV to be $79.6 billion in 2025. EBay also recently announced plans to acquire fashion marketplace Depop. Etsy About $1.2 billion to strengthen its fashion offering and attract a younger demographic.
“We’re here for the long haul,” Jay said in response to a question about whether rapid growth is the best use of capital for a company targeting the public markets. “We’re trying to make investments, it’s all unsexy stuff, we’re making unsexy investments that make second-hand first choice around the world.”
