The CEO of Vinted states that the US is a

      TL;DR: Vinted’s marketplace CEO mentions that the $9B secondhand platform sees “great potential” in the US but cautions that achieving success may take years. Vinted, the Lithuanian resale marketplace valued at €8 billion following an €880 million secondary share sale in April, is entering the American market, as stated by CEO Adam Jay. He spoke at London Tech Week, noting that the trend toward buying secondhand is a significant shift that “is very much here to stay.” The company began promoting itself in the US earlier this year after being inactive there since 2013. However, Jay warned that establishing a presence in the US could take “weeks, months, and perhaps years.”

      These remarks come as Vinted reveals financial results that highlight its growth as well as the expenses of its expansion strategy. Revenue increased by 38% in 2025 to €1.1 billion, while gross merchandise value rose by 47% to €10.8 billion. Conversely, net profit dropped by 19% to €62 million due to major investments in its logistics arm Vinted Go, its payment services Vinted Pay, and expansion into new markets including the US, Latvia, Estonia, and Slovenia.

      The April secondary transaction, spearheaded by EQT Growth with participation from Schroders Capital and Teachers’ Venture Growth, valued Vinted at a 60% premium compared to the €5 billion it attained in October 2024. This deal generated liquidity for early investors and employees but did not create any new primary capital. Vinted has described itself as “IPO-ready” but has not established a timeline, and Jay refrained from commenting on the specifics of a potential listing.

      Vinted is in a strong financial position, being cash-positive and generating €137 million in free cash flow in 2025 (a 36% increase from the previous year). The company has demonstrated its ability to raise close to a billion euros in private capital without diluting shareholders through new share issuance. Consequently, Vinted is not under pressure to go public, allowing it to strategically plan an IPO based on market conditions rather than investor liquidity requirements.

      The US market signifies Vinted’s first step outside Europe and poses its greatest competitive challenge yet. Jay identified high shipping costs as the primary obstacle in a market where established competitors like Poshmark, ThredUp, and Mercari are already catering to secondhand buyers. eBay, which recorded $79.6 billion in GMV in 2025, is also enhancing its fashion sector through a forthcoming $1.2 billion acquisition of Depop, a resale platform focused on Gen Z that has been heavily investing in AI-driven listing tools, from Etsy.

      Vinted's expansion strategy goes beyond geographical reach. The company spent years focusing solely on fashion before gradually incorporating categories such as electronics, books, toys, and home goods. Jay mentioned that the team was initially “nervous” about expanding categories due to user appreciation for the platform's simplicity, but ultimately, there were enough indications to move forward, including users who had begun creatively listing non-fashion items prior to the official category launches. Vinted Ventures, the company’s investment arm, is also supporting related commerce startups, including leading a $26 million funding round for the live-commerce platform Tilt as a defensive strategy against Whatnot’s expansion into Europe.

      The company has introduced the term “Vinted math” to illustrate a consumer behavior trend where buyers consider resale value before making new purchases and check Vinted prior to retail. According to Vinted’s 2025 Impact Report, users saved €21.6 billion on fashion purchases in comparison to retail prices, paying an average of 72% less. These figures, derived from the company's own reporting, should be viewed as a marketing construct rather than objectively verified savings data. Nonetheless, the behavioral shift aligns with broader industry trends.

      The global secondhand apparel market is growing at approximately double the rate of the overall apparel market, according to GlobalData research, and is expected to reach $393 billion by 2030. This favorable trend benefits Vinted, but its success in the US will hinge on its ability to address the shipping-cost challenges identified by Jay while competing against platforms with established American infrastructure and brand recognition.

      Vinted currently operates in 26 countries, with France and the UK being its largest markets. Founded in 2008 in Vilnius by Milda Mitkutė and Justas Janauskas, it became Lithuania’s first tech unicorn in 2019 and achieved its first annual profit in 2023 under group CEO Thomas Plantenga. Whether Vinted can replicate its European success in the US, with its more complex competitive landscape, tougher shipping economics, and differing consumer behaviors regarding secondhand purchases, will determine if its future IPO positions it as a European leader or a global player.