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How Vinted is making second-hand the first choice worldwide
Since its founding in 2008, the Lithuanian company Vinted has experimented, innovated, and undertaken strategic expansions to become the leading peer-to-peer second-hand fashion marketplace. Last year, Vinted became France’s largest clothing retailer, well ahead of Shein and Decathlon1.
These figures reflect Vinted’s ability to harness structural trends in the retail space: the rapid expansion of the circular economy, combined with the digitalisation of consumer habits and heightened price sensitivity. In Europe, the second-hand clothing market is posting double-digit growth2.
In this context, Vinted – Lithuania’s first unicorn – stands out for focussing on operational efficiency that makes buying second-hand cost-efficient, reliable, and easy. The platform saw its valuation rise from EUR 5 billion to EUR 8 billion in just two years and continues to attract leading investors, including through a recent secondary round in April, in which Lombard Odier participated3.
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Vinted’s ambition: building the infrastructure to make second-hand first choice
An established leader in second-hand clothing, Vinted has gradually expanded its scope. Following fashion, the company opened an electronics category in 2024 and continues to broaden its offering to include home décor, books, toys, video games, and more.
Vinted has succeeded in creating a powerful network effect. Growth in seller numbers enhances the buyer experience, while the expansion of the buyer base makes the platform increasingly attractive to new sellers. This virtuous circle fosters the emergence of highly loyal user communities.
The launch of Vinted Go and Vinted Pay, which simplify shipping and payments, further strengthens the group’s competitive position
The launch of Vinted Go and Vinted Pay, which simplify shipping and payments, further strengthens the group’s competitive position. Combined with the Vinted marketplace, these solutions form a vertically integrated ecosystem that generates economies of scope and offers potential future monetisation opportunities. By reducing logistics and payment costs, Vinted lowers transaction costs, increases volumes, improves inventory turnover, and maintains strong short-term liquidity.
As a result, Vinted no longer sees itself solely as a resale platform, but as a company helping to accelerate re-commerce and reshape consumer behaviour around second-hand buying. This shift is reflected in the launch of Vinted Ventures in April 20254, through which the company plans to invest between EUR 0.5 million and EUR 10 million in Series A to C businesses across the re-commerce sector.
Can Vinted compete with Chinese and American platforms?
For the time being, the global digital economy largely rests on American and Chinese platforms. Online commerce remains dominated by names such as Amazon, eBay, Alibaba, and Temu, groups that already control product discovery, payments, logistics, and customer relationships at scale.
European companies capable of organising mass, recurring, and cross-border transactional activity remain rare. Yet Vinted could help reverse this trend, as highlighted in an insightful article published by FrenchWeb. According to its author, “Vinted’s next step is not merely to grow second-hand consumption, but to build the rails of C2C commerce, namely the infrastructure that allows individuals to trade as seamlessly as in B2C.”
Beyond diversifying its product offering, developing payment and logistics solutions, and launching venture capital investments, the platform is also pursuing geographic expansion, with the opening of new markets such as Latvia, Estonia, and Slovenia bringing its European presence to 25 countries.
The platform is also pursuing geographic expansion, with the opening of new markets such as Latvia, Estonia, and Slovenia bringing its European presence to 25 countries
According to the Financial Times, another strategic signal has emerged with Vinted’s first moves towards entering the United States. The platform has launched a pilot connecting London and New York, enabling users in both cities to buy and sell from one another, marking its first extra-European test.
The US second-hand market presents a paradox: it is vast, yet remains relatively fragmented, according to FrenchWeb. Several platforms are active, but none has yet succeeded in establishing a dominant standard comparable to the one Vinted has built in Europe.
Vinted’s success story also serves as a reminder of a fundamental truth: Rome was not built in a day. Despite the rapid pace of the digital world, building a leadership position takes time, as does the path to achieving break-even. While the company had already demonstrated the strength of its business model through profitable quarters, Vinted first reached full-year profitability in 2023, fifteen years after its founding.
Momentum then accelerated. In 2024, revenues rose by 36 percent to EUR 813.4 million, while net profit reached EUR 76.7 million. The platform crossed a significant milestone in 2025, with revenue of EUR 1.1 billion5, up 38 percent, net profit of EUR 62 million, and GMV reaching EUR 10.8 billion. Vinted has thus positioned itself among advanced growth, late-stage companies, combining critical scale with a dynamic development trajectory.
Looking more broadly, the second-hand sector faces a range of challenges, including intensifying competition, reliance on marketplace liquidity, and operational execution risks, particularly in logistics. Like all large marketplaces, Vinted must continue investing in trust, safety, and moderation, particularly as new technologies make fraudulent or misleading listings easier to produce.
To date, Vinted’s management team – experienced, data-driven, and supported by leading institutional investors – has demonstrated exemplary discipline in capital allocation and strong execution capabilities. This rigour has enabled Vinted to pursue an ambitious growth strategy while preserving its financial resilience.
This rigour has enabled Vinted to pursue an ambitious growth strategy while preserving its financial resilience
As Thomas Plantenga, CEO of Vinted, recently reminded us: “To make second-hand the first choice, we know what we need to do – we need to be the most cost-efficient, be the most reliable and, easy to use.” This clear vision, combined with rigorous execution, is a decisive asset in enabling Vinted to continue its growth trajectory in Europe and beyond.
This is a marketing communication issued by Bank Lombard Odier & Co Ltd (hereinafter “Lombard Odier”).
It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication.
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