Vinted, the popular consumer-to-consumer online resale platform, is witnessing a profound and lasting shift in global consumer behavior towards the secondhand economy, according to its marketplace CEO, Adam Jay. This trend, coupled with consumers seeking value amidst rising living costs, has propelled the Lithuanian startup to a valuation exceeding $9 billion following a recent secondary share transaction. The company’s robust growth and financial health are fueling intense speculation about a potential blockbuster IPO, though executives remain tight-lipped on timelines.
Vinted, the rapidly expanding online resale application, is observing a fundamental and lasting transformation in consumer behavior, as buying habits increasingly center around the resale economy. This insight comes from Adam Jay, CEO of Vinted Marketplace, who shared his views with CNBC on Monday.
The consumer-to-consumer platform, which enables users to sell unwanted goods ranging from clothing and electronics to furniture, has experienced explosive growth in recent years. This surge is significantly boosted by a global populace increasingly seeking value in the face of escalating living costs.
Last year alone, the total value of items transacted on Vinted soared by nearly 50%, a period marked by its expansion into more European markets.
"It's a fundamental change in consumption towards second hand, and I think that is very much here to stay," Jay asserted to CNBC. He highlighted that Vinted's impressive growth trajectory predated the current economic headwinds, including the cost of living crisis and inflation, and has continued robustly through these challenging times.
Jay's remarks follow Vinted's late April completion of an 880 million euro ($1.02 billion) secondary shares transaction, which valued the Lithuanian startup at an impressive $9 billion. This multi-billion dollar valuation, coupled with its rapid expansion, has intensified speculation regarding a potential blockbuster initial public offering (IPO).
The company's strong financial position, being cash-positive and capable of securing substantial private capital, suggests it faces little immediate pressure to go public. While executives have alluded to a future IPO, no specific timeline has been provided. Jay expressed satisfaction with current investors but refrained from commenting on the timing or location of a potential listing.
The secondary transaction, spearheaded by EQT, welcomed new institutional investors such as Schroders Capital and BlackRock, while existing shareholders like Baillie Gifford bolstered their positions. Vinted noted that this move introduced "institutional, long-term investors that can hold across private and public markets, while providing liquidity to existing shareholders and employees." It's important to note that this transaction did not raise any new primary capital for the company.
Expanding Horizons: Beyond Fashion and Europe
According to market research firm GlobalData, the online secondhand apparel market is experiencing rapid growth, outpacing the overall market by twofold. Jay attributes this explosive expansion partly to the win-win scenario it presents for both buyers and sellers. "You've got this habit being formed, you've got this big social impact, climate impact, and that… combines to be the Vinted equation," he explained.
Vinted has even coined the term "Vinted math" to describe how consumers view secondhand goods as an accessible and more affordable choice, often considering the resale value when making new purchases. The company's 2025 Impact Report revealed that Vinted users collectively saved 21.6 billion euros on fashion that year, effectively paying an average of 72% less than original retail prices.
Now, Vinted is focused on replicating this successful formula across the Atlantic and venturing into new product 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 was working right across Europe," Jay stated.
He admitted initial apprehension about diversifying beyond fashion, fearing it might complicate the platform's renowned simplicity and ease of use. However, strong user feedback, including instances of members creatively selling non-fashion items even before official category expansions, provided the necessary impetus to broaden their scope.
LONDON, ENGLAND - JUNE 08: CEO of Vinted Marketplace Adam Jay speaks to delegates during an interview on day one of London Tech Week at Olympia on June 08, 2026 in London, England. Attracting the world's leading tech companies including Microsoft, Amazon Web Services, and Google Cloud, London Tech Week brings together industry innovators, policymakers, and investors to discuss the latest breakthroughs in the world of tech. This year the Deep Tech Stage features innovations in the fields of space, robotics, sciences, quantum and AI. (Photo by Leon Neal/Getty Images)
Leon Neal | Getty Images News | Getty Images
Currently, Vinted operates in 26 countries, with France and the UK representing its largest markets. While Vinted has maintained a presence in the U.S. since 2013, it only recently, earlier this year, began actively marketing and striving to cultivate growth in the American market.
Jay sees an "enormous opportunity" in the U.S., though he cautions that achieving significant success there could take "weeks, months, and maybe years." Historically, European tech and consumer companies have found it challenging to successfully transplant their business models to the U.S.
One of the primary hurdles in conquering the U.S. market, according to Jay, is the high cost of shipping. To address this and bolster its operational capabilities, Vinted is actively developing its shipping and payment infrastructure through initiatives like Vinted Go and Vinted Pay. This expansion into logistics, digital wallet infrastructure, and new markets is, however, impacting the company's profitability.
In 2025, net profit saw a 19% decline year-over-year, despite a substantial 38% increase in revenue to 1.1 billion euros. Its Gross Merchandise Value (GMV) also surged by 47% to 10.8 billion euros.
The platform still has considerable ground to cover to rival industry giants such as eBay, which reported a GMV of $79.6 billion in 2025. Notably, eBay recently announced its intention to acquire fashion marketplace Depop from Etsy for approximately $1.2 billion, aiming to bolster its fashion offerings and attract a younger demographic.
Responding to queries about whether rapid expansion is the optimal capital allocation strategy for a company with public market aspirations, Jay affirmed, "We're here for the long term. We're trying to make the investments, all of it is the unsexy stuff, make the unsexy investments that make secondhand first choice worldwide."
