Vinted boss sees big shift in consumer behaviour as second hand booms
Online resale app Vinted is seeing a structural shift in consumer behaviour, as habits form around the resale economy, the company’s marketplace boss told CNBC on Monday.
Vinted, the consumer-to-consumer platform allowing customers to sell unwanted items like clothing, electronics, or even furniture, has seen rapid growth in recent years, boosted by consumers increasingly looking for value amid rising costs of living globally.
The value of items sold on Vinted grew nearly 50% last year, as it launched in more European markets.
“It’s a fundamental change in consumption towards second hand, and I think that is very much here to stay,” Adam Jay, CEO of Vinted Marketplace, told CNBC. “Vinted was growing well before the current economic difficulties, the cost of living crisis, inflation, and has continued to grow well in times of difficulty and stress.”
His comments come as Vinted in late April completed a secondary shares transaction of 880 million euros ($1.02 billion), valuing the Lithuanian startup at over $9 billion.
Vinted’s rapid growth and multi-billion dollar valuation have fueled intense speculation regarding a potential blockbuster IPO.
The company’s robust financial health also signals that it is under little pressure to list soon, as it is cash-positive and capable of raising nearly a billion euros in private capital.
Executives have hinted at an upcoming IPO but haven’t given a timeline. Jay said he was happy with the current investors, but declined to comment on the timing and location of a potential IPO.
The secondary transaction led by EQT brought on new investors such as Schroders Capital and BlackRock, and saw existing shareholders like Baillie Gifford increase their position.
It introduced “institutional, long-term investors that can hold across private and public markets, while providing liquidity to existing shareholders and employees,” Vinted said at the time. The company didn’t raise any new primary capital in this transaction.
Expanding beyond fashion and Europe
Online secondhand apparel is growing rapidly, and at twice the speed of the overall market, according to market research firm GlobalData.
The explosive growth is partially because the secondhand market represents a win-win for buyers and sellers, according to Jay. “You’ve got this habit being formed, you’ve got this big social impact, climate impact, and that… combines to be the Vinted equation.”
Vinted coined the term “Vinted math,” referring to consumers who view second hand as an easy and more affordable option, and consider the resale value when buying new items.
Vinted users saved 21.6 billion euros on fashion in 2025, compared to retail prices, paying on average 72% less than the original price, according to the company’s 2025 Impact Report.
Vinted is now trying to take that formula across the Atlantic as well as to new categories.
“It took us a long time before we decided to go beyond fashion, and we really needed to be confident that our fashion marketplace…
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