Lithuanian online peer-to-peer marketplace Vinted is preparing to expand more aggressively into the United States, with company officials planning to invest “tens of millions of dollars” in its US operations this year.
Although the app has been available in the US since 2013, Vinted CEO Thomas Plantenga told The Wall Street Journal last week that the new initiative represents a full-scale push rather than a preliminary test.
“Now we are committing much larger budgets, which are actually quite serious,” Plantenga said. “This is not a preliminary test. This is a full-scale test.”
The company recently highlighted its plans on social media, and Lithuania’s public investment promotion agency, Invest Lithuania, also shared news of the US expansion.
“Lithuania’s unicorn is entering the transatlantic market,” the agency wrote. “Founded in 2008 by Milda Mitkutė and Justas Janauskas as a small platform to help sell clothes during relocations, it eventually became Europe’s leading marketplace for second-hand fashion and, since 2019, Lithuania’s first unicorn. Now Vinted is introducing its second-hand model to the United States – specifically, New York!”
Vinted said research showing that 55% of New York City residents lack closet space, and one in five own unworn clothes worth more than $500, helped drive the decision to focus on the city.
The Wall Street Journal noted that Vinted has attempted to enter the US market for several years, with its first effort dating back to 2013. The company will face competition from other established resale platforms, including Japanese marketplace Mercari, South Korea’s Poshmark, and US-based ThredUp.
Vinted operates under the UK-registered Vinted Limited. The company was valued at approximately $6 billion in 2024. Its Lithuanian operations include subsidiaries Vinted Go, Vinted Pay, and Vinted Systems.
According to Lithuania’s Register of Legal Entities, UAB Vinted reported revenues of €739.9 million in 2024, a 31% increase over 2023, with net profit of €63.7 million – more than double the previous year. As of January 28, the company employed 1,588 people, with an average December salary of €4,778 gross (around €2,891 net), according to social security data.
While Vinted initially focused on second-hand fashion and lifestyle products, it has recently expanded the range of goods offered on the platform. A 2024 management report noted that Vinted operated in 23 markets, primarily in Europe.
The US expansion marks the next step in the company’s international growth, as it seeks to replicate its European success in one of the world’s largest second-hand marketplaces.
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