Vinted’s CEO says the US is an “enormous opportunity” as the $9B secondhand marketplace plots its Atlantic crossing

TL;DR

Vinted’s marketplace CEO says the $9B secondhand platform sees “enormous opportunity” in the US but warns success could take years.

Vinted, the Lithuanian secondhand marketplace valued at €8 billion after an €880 million secondary share sale in April, is pushing into the United States and sees an “enormous opportunity” in the American resale market, according to marketplace CEO Adam Jay. Speaking at London Tech Week on Sunday, Jay told CNBC that the shift toward secondhand consumption is “a fundamental change” that is “very much here to stay.“ The company began actively marketing in the US earlier this year after maintaining a dormant presence there since 2013, but Jay cautioned that building the American market could take “weeks, months, and maybe years.”

The comments come as Vinted posts financial results that illustrate both the platform’s momentum and the cost of its expansion...

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