VINTED HAS BECOME THE MOST STRONG EUROPEAN SECOND-HAND BUSINESS

Vinted was founded in 2008 in Lithuania as a simple online platform for selling used clothing, created by Milda Mitkute and Justas Janauskas to address the problem of excess clothing.

The project quickly grew into a popular consumer-to-consumer (C2C) platform across Europe, but the path to success was not straightforward. In 2015, a change in monetization strategy nearly led the company to bankruptcy due to mass user attrition. The turnaround occurred in 2016 with the appointment of Thomas Plantenga as CEO, who shifted the business model to focus on cost reductions, improved user experience, and launched major marketing campaigns in key Western European markets.

Key Drivers of Growth

Vinted abandoned high commission fees, improved customer support, introduced secure payment methods and user review systems, and regained user trust. The platform provides a safe, simple, and affordable buying and selling experience, featuring personalized filters and shipment tracking for added convenience. The company’s rapid expansion in France and Germany was crucial — especially during the pandemic — with strong uptake among younger generations. By 2025, Vinted will operate in 23 European markets, boasting over 75 million users and outselling giants like Amazon and Shein in France by volume.

Vinted’s revenue in 2024 reached €813.4 million, a 36% increase from the previous year, while net profit surged by 330% to €76.7 million. The company is valued at over €5 billion and is steadily expanding its category offerings, having recently launched second-hand electronics and established Vinted Ventures, an investment arm, to fund other resale startups.

Business Model and Market Impact

The company built its own logistics infrastructure and recommendation algorithms, constantly investing in payment systems, user data protection, and app interface improvements. Its scalable and flexible model allows quick entry into new markets with relatively low operational costs.

European consumers’ growing demand for affordable and sustainable fashion, combined with a cultural shift where second-hand is embraced as a style statement and eco-conscious choice, fueled Vinted’s rise. Its dominant position is powerful among younger buyers, with second-hand fashion comprising a significant share of apparel consumption in key markets.

Summary of Success

Thanks to technological innovation, user-centric design, a strong expansion strategy, and a core value of sustainability, Vinted is not only Europe’s largest second-hand clothing retailer but also a key driver of the global circular economy.

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