How an App Selling Secondhand Clothes Went From Near Collapse to Worth $5 Billion

Vinted, a secondhand clothing company founded in 2008, was revitalized by CEO Thomas Plantenga, expanding rapidly in Europe and aiming to become the 'Amazon of secondhand.'

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*Source: https://www.wsj.com/business/retail/vinted-vintage-clothes-app-65e6c2ed?mod=business_lead_pos3

Vinted is a company that sells clothes secondhandedly in Europe. Vinted became a top company in the U.K. quickly. With the assistance from Thomas Plantenga, a consultant from New York, Vinted expanded quickly. Thomas Plantenga fired all the staff members and rebuilt the company. With Thomas Plantega working as the chief executive of the company, the company quickly became popular in the U.K., now valued around $5.26 billion. According to Plantenga, he wants to make Vinted the “Amazon of secondhand”.

Vinted began in 2008 by Milda Mitkute in Vilinius. In 2016, the company generated significant revenues. This news spread to Plantenga, and he came to help. Vinted headquarters is interesting, as it has “nap rooms, a rooftop sauna, a room for playing video games, and a music room for jamming sessions complete with a mirrorball.” The headquarters also has building storage lockers to help buyers deposit and collect packages. Vinted failed 6 times and was successful in their seventh attempt. Even though Vinted is not yet a company in the United States, it is trying to expand to the United States.