In 2025, Vinted achieved a significant milestone by surpassing €10 billion in Gross Merchandise Value (GMV) and moving toward €1 billion in annual revenue, driven by approximately 40 percent year-on-year growth. This article analyses what enabled this success, how Vinted is positioning itself within the European recommerce market, and what this means for the broader e-commerce sector.

Vinted Milestones and Financials

Vinted exceeded €10 billion in GMV in 2025. Revenue is expected to surpass €1 billion this year, reflecting around 40 percent growth compared to the previous period.

Valuation and Investor Interest

The company is reportedly exploring a share sale that may value it at approximately €8 billion, indicating strong investor confidence in its expansion, profitability, and long-term market relevance.

Profitability Progress

Although Vinted once posted significant losses, such as €118 million in 2021, the company reached profitability by 2023 with net earnings of around €17.8 million on nearly €600 million in revenue. This shift is central to building resilience and funding future expansion.

Vinted Strategic Drivers of Growth

Market Expansion and Category Diversification

Initially focused solely on second-hand fashion, Vinted expanded into electronics, books, toys and games, widening its addressable market. Markets like Germany, previously difficult, have become strong performers.

Platform Services: Logistics and Payments

“Vinted Go” and “Vinted Pay” are strategically important. By controlling logistics touchpoints and payment flows, the platform reduces friction and builds trust, which boosts user activity and retention.

Recommerce Momentum and Sustainability

Vinted’s business model aligns with broader European consumer trends: a preference for affordable goods and increased interest in sustainable consumption. This macro-shift amplifies Vinted’s appeal and market growth.

Technology and European Scale

The platform benefits from strong network effects across multiple European countries. While Vinted is evaluating expansion beyond Europe, it considers markets like the United States to still be in early development stages for peer-to-peer recommerce.

Implications for the European E-commerce and Recommerce Landscape

Recommerce Becomes Mainstream

Vinted’s scale demonstrates that second-hand retail is no longer a niche. Consumers increasingly integrate used products into their normal shopping habits, pushing the sector toward mainstream acceptance.

Competitive Pressure on Traditional Retail

In countries like France, Vinted has reportedly become the largest clothing retailer by volume, surpassing traditional brands and large online sellers. This challenges the traditional retail model and forces established brands to consider resale, rental or circular programs.

Differentiation Through Logistics and Payments

Vinted’s success with its own logistics and payment solutions highlights a broader trend: marketplaces can no longer rely solely on connecting buyers and sellers. They need to deliver end-to-end transaction quality.

Strong Investor Appetite

Vinted’s valuation trajectory signals that recommerce and circular-economy businesses are increasingly attractive to investors, particularly when combined with proven scale and paths to profitability.

Challenges and Strategic Risks

Maintaining Growth While Protecting Margins

High growth is encouraging, but operational costs, pricing pressure, and competition could squeeze margins. Maintaining profitability while scaling is the key challenge ahead.

International Expansion Risks

Entering markets outside Europe brings regulatory, cultural and logistical challenges. The company itself acknowledges that certain markets remain unprepared for recommerce at scale.

Operational Complexity

As Vinted expands into more categories and countries, compliance, product safety, fraud prevention and logistics coordination become more demanding. Any failure in these areas can damage trust.

Market Competition

Competitors continue to evolve, and major apparel brands now explore their own resale programs. Vinted must continue to innovate to stay ahead.

Key Lessons for B2B and E-commerce Strategy

• Integrating logistics and payments into a marketplace significantly enhances user trust and platform stickiness.
  
• Diversifying product categories can unlock new growth and customer segments.
  
• Recommerce is becoming a strategic pillar in European retail; brands and B2B companies should evaluate how to incorporate circular models.
  
• A pan-European footprint strengthens network effects and operational efficiency.
  
• Long-term success depends on balancing high growth with operational discipline and profitability.

Vinted’s achievement of over €10 billion in GMV marks a pivotal moment for recommerce in Europe. The company’s growth shows the strength of second-hand retail, the power of integrated platform services, and the rising importance of circular-economy models. For retailers, brands, and B2B players alike, Vinted’s rise offers valuable insights into the future of e-commerce, customer expectations, and sustainable business strategy.

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The Vinted Group reported consolidated revenue of €813.4 million, an increase of 36% (2023: €596.3 million). The Group significantly strengthened its financial position, reporting net profit of €76.7 million, up 330% (compared to €17.8 million in 2023). Adjusted EBITDA was €158.9 million (2023: €76.6 million).

Thomas Plantenga, CEO of Vinted Group, said: “This performance results from our hard work to deliver products that bring high value to our members at the lowest possible cost. We achieve this by constantly focusing on cost control, building complex infrastructure, and innovating to deliver new services and solutions at scale. This combination of scale, innovation, and cost control drives us to success.”

In addition, in October 2024, Vinted closed a secondary share sale, valuing the company at €5 billion. The transaction provided all shareholders, including employees, with a reward for their contribution to Vinted's success while attracting new investors excited to participate in Vinted's future.

Vinted Marketplace: Launch of New Categories and Geographies

Vinted deepened its market penetration in existing markets and launched in Croatia, Greece, and Ireland. In addition, it has experienced substantial growth in its existing categories, including newer categories such as luxury fashion. In response to its members' interest in buying and selling second-hand items beyond fashion, it launched an electronics category. 

This category allows users to easily generate income from unwanted electronic devices like speakers, headphones, fitness trackers, and laptops. Vinted will continue to expand its marketplace to more categories and countries in 2025.

Meanwhile, Vinted Go continued successfully expanding its logistics operations to offer affordable and convenient shipping to its members through drop-off and pickup networks. With an extensive network in France and the Benelux, Vinted Go is expanding to Spain and Portugal this year.

More investments in Vinted Pay

Meanwhile, Vinted continued to invest in Vinted Pay, which launched its first services in Lithuania. Vinted Pay aims to simplify transactions on Vinted, reduce costs, and further strengthen its ecosystem.

Investing in re-commerce

This month, Vinted is launching Vinted Ventures, a dedicated investment division. With this division, the company will focus on investing in the next generation of founders and startups in the e-commerce value chain.

This investment expands Vinted's role in building Europe's second-hand economy, supporting ambitious founders, and fostering innovation across the value chain.

Maurizio D'Arrigo, Vinted's Chief Financial Officer, said: “These results reflect Vinted's widespread adoption in Europe and our significant contribution to the secondhand economy. This, together with the sale of our secondary shares and a valuation of €5 billion, demonstrates our strong financial position to continue growing and reinvesting in the business, driving further growth.”

In 2025, Vinted aims to expand geographically and invest in new categories, while strengthening services that help members transact more easily and confidently at low cost.

Vinted's growing team will support these priorities. In 2024, the average number of employees across the Vinted Group increased by 19%, reaching more than 2,200 employees across all Vinted entities at the end of the year, with the majority working at its headquarters in Vilnius, Lithuania.

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Vinted has closed a new financing round that boosts its valuation. The second-hand marketplace has closed the secondary share sale for €340 million at a valuation of €5 billion. In 2021, during Vinted's last funding round, the company had a pre-money valuation of €3.5 billion.

Thomas Plantenga, CEO of Vinted, said: "We are delighted to welcome new investors with the expertise to support us in our next phase of growth while continuing to benefit from the experience of our long-term backers. TPG and our other new investors share our vision: to make pre-owned vehicles the first choice worldwide. We are also delighted that this share sale rewards our employees for their dedication to making Vinted successful." 

The transaction was led by U.S.-based TPG Group, a global alternative asset manager, and other investment funds, including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures. The transaction validates Vinted's opportunity and progress in developing and growing the secondhand market globally. It also diversifies the company's investor base with new expertise and rewards its employees and early investors for their contributions to Vinted's success.

Since the last funding round of the Lithuanian marketplace closed, it has increased its gross merchandise value (GMV) by more than 3.5 times and reached full profitability. In 2023, the company recorded 61% revenue growth and had a double-digit EBITDA margin. Vinted has become the European leader in its field, encouraging people to adopt new consumer habits. Today, more than a third (37%) of Vinted members say that second-hand clothes make up at least half of their closet.

Vinted's steady growth is due to its expansion into new markets

This growth has been made possible by Vinted's rigorous focus on ensuring its members get excellent value at the lowest possible cost. In the last year alone, Vinted's marketplace expanded into existing markets and launched into new markets, including Finland, Greece, and Croatia. The company also launched a new verification service to help members exchange luxury and designer fashion items more securely. This feature is now available in 10 countries. 

In recent weeks, Vinted has begun implementing a new category for electronic products. The company has expanded its shipping business in the Netherlands, Belgium, and France. Vinted's payments business has acquired an EMI license and is working on solutions to improve how members transact on Vinted. 

Andy Doyle, partner at TPG, said, "We have seen consumers increasingly choose second-hand items as a key part of their wardrobe, as sustainability and flexibility have become priorities for many people. Vinted's customer focus, leading product expertise, and sophisticated logistical approach have made this market accessible to a broader population. We are excited to partner with Thomas and his team of world-class operators and to count Vinted among our growing portfolio of leading European technology companies."

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Vinted will have to pay a fine of 2.3 million euros for allegedly violating several aspects of the European General Data Protection Regulation (GDPR). The fine follows complaints from several Europeans - Germany, France, Poland, and Spain, and one of the main issues is the practice of 'shadowbanning'. As a result, the Lithuanian regulator SDPI (State Data Protection Inspectorate), where Vinted is registered, has launched an investigation against the company.

According to FashionUnited, the investigation shows that Vinted "does not adequately respect users' right to be forgotten". Vinted members have been asked to provide specific arguments to remove their personal data. If these specifics are not given, Vinted rejects the request, which is not allowed.

Furthermore, SDPI considers that "the fashion platform is not sufficiently transparent about which personal data it uses." In this context, it stresses that the platform practices 'shadowbanning'. That is, Vinted members can be excluded from Vinted without being informed. This practice is applied when the rules of behavior are violated. In such a case, users can still post items for sale, but other users cannot see their ads. SDPI considers this method "illegal."

In response to these accusations, Vinted has explained to the aforementioned media outlet, "We would like to reassure our members that the issues referred to by the Lithuanian data protection authority are in no way related to the security of their accounts nor do they involve abuse or violation of their personal data."

What exactly is Shadowbanning, and why is Vinted accused of doing it? 

Shadow banning, also called stealth banning, hell banning, ghost banning, and comment ghosting, is the practice of blocking or partially blocking a user or the user's content from some areas of an online community in such a way that the ban is not readily apparent to the user, regardless of whether the action is taken by an individual or an algorithm. For example, shadow-banned comments posted to a blog or media website would be visible to the sender, but not to other site users.

This practice is precisely what the EU authorities have accessed Vinted of doing, implying that some users have been banned without them fully knowing this. To this, Vinted has officially responded with the following: 

"We take privacy and GDPR very seriously and have invested heavily in compliance and protection of our members, collaborating throughout this process with the VDAI. However, we have found no legal basis for this decision and believe it sets a new precedent that goes beyond the current wording of the law and industry best practices. We fundamentally disagree with this fine and will continue to appeal, as we have throughout this process," the company said.

"Regarding the VDAI's decision on shadowbanning processes, which we used in the past to keep our platform and our members safe, we would like to reiterate that we no longer use these processes. We regularly evaluate these measures and adjust them to align with technological advances and changing legal regulations," they reiterated.

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Vinted wants to acquire its competitor Rebelle. Apparently, the company offered 30,2 million euros for Rebelle. So far, no official response has been made public, but inside sources claim that Rebelle commission members and shareholders look upon the deal in a very positive light. 

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Vinted is an online platform mainly focused on buying and selling pre-owned clothing and was founded in Lithuania. Rebelle is also a secondhand fashion marketplace but from Germany, and offers mainly luxury brands. 

Vinted has been expanding its business recently, launching a logistics arm and online shipping platform. At the start of this year, Rebelle went public, valued at nearly 60 million euros.

Vinted wants it all

Vinted released the news in a press release which indicated that, for the takeover, the company had offered 1,35 euros per share. With 22,4 million shares of Rebelle, this comes down to 30,2 million euros.

Vinted offered 30,2 million euros with 1,35 euros per share.

The company says it wants to own over 90 percent of Rebelle’s shares as part of the deal. An appointed committee of Rebelle responded positively to the offer, according to Vinted, and shareholders collectively represent 65 percent of shares.

Vinted plus Rebelle: a force to be reckoned with!

Probably the main thought process behind Vinted's attempt to take over Rebelle is the fact that the market is becoming increasingly competitive for secondhand clothing. If we add to this the fact that Rebelle could fill a market gap - the luxury secondhand market for clothing - that Vinted is not currently profiting from, the duo seems like a really good deal for both and a possible powerhouse for the industry.

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Vinted is one of the world's leading second-hand fashion marketplaces. Known as Lithuania's first unicorn, it is a platform where users can buy and sell second-hand fashion. It currently operates in a total of 12 European markets with more than 65 million users and has recently launched in Italy and the Netherlands. 

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Vinted is now owned by Vinted Group. With the launch of the new logistics arm, the business structure has been changed. Both are now owned by the new parent company. 

The launch of Vinted Go 

Vinted has recently announced the launch of its own logistics alternative, called Vinted Go. From this, it will not only allow its online delivery platform to be used by other companies, but will also have its own parcel warehouses in and around Paris. 

According to the company, currently, the shipping infrastructure between different countries in Europe is somewhat fragmented and inaccessible. In this regard, they have identified greater connectivity and convenience as fundamental to the growth of e-commerce. 

Therefore, the launch of Vinted Go is intended to create a standalone business that can focus only on parcel delivery, thereby expanding the offering to consumers and improving the delivery experience. 

How will Vinted Go work?

Launching in June in Paris and around, Vinted Go will have a total of 200,000 lockers and 40 carriers. It will be a pick-up and delivery solution with its own network of lockers, where users will be able to choose the delivery option, from which electric vans will deliver parcels to the lockers. Vinted has stated its intention to generate environmentally friendly solutions for deliveries.

On the other hand, Vinted Go will offer an online delivery platform for other companies. This will connect and improve the carrier infrastructure for corporations. 

From these new possibilities, the company is aiming for a better overall delivery experience for all users.

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