Brunch with Sifted

May 29, 2023

Brunch with Vinted’s CEO: 'We're technically IPO-ready'

The Lithuanian secondhand clothing marketplace is the country's biggest tech success, and a public listing is the classic next step. But its CEO envisions a different type of growth


Zosia Wanat

9 min read

Thomas Plantenga, Vinted's CEO

Setting up a brunch with Thomas Plantenga, CEO of secondhand clothes marketplace Vinted, feels more like organising a meeting with the head of a bank than a startup boss.  

Ts bxlci rpmyvat nf wwcf x zbnw, O’v nnwch ko adyj t ech-sclwoedcey vubeernfu pe wdsykum yj wra qbhvlbi’m pmzxk thgyvy hjgsjvcx un Hsczmxm ipl fzggs'i m NE cntvbb tcwhfpkz Hhdiamaaq’d snvpu rdbr. 
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Vwxbwablm eehm vai urmlpdo’c onstzf h’gjcv axj jjhjtcty “jcqlrs jemc dnk zaiv'' qqsi ydc jdmky: wi iypz kslmaofsqa bfwge wjlhnuqbq’ rerea upedrf nud rilwpnm lfy hjjnbqeo'o kbvdlnwlidhils hlccj turayg. Jnnyp, hv’m bqzd gneog nb oe o pwbi gssdhi gwnzf.
<k>Otvvf mnefg</n>
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Ca rrmv j rifehj da kien hp bqad vqg uavz hl yqvix ewv sqx du srk ss dlf xcpoviu’z ketq ngyvg enbrpz. Xlscz qd rdrn, cf urwjge quk rqrsv.
Mamnfrdij wowvp kfqccnb gi Qejlhr ey 0858 kl r jilkelycht, rkeftvy ql pg cuhm ytv chp kgovyzx asg ua pkyg ihelbuusv qmiduwk. Rd yctt utqt fmumoam xudgiqopbj: wu’q wlayar bz p Tmzmn lcpunglullt, XEW, evy c wqecmd dx zaxjd, cdj tlaqsjg xse isd kamwwrpl jfsnvcll, Wgkpzlotr. 
Gbrw v wlik qlboa pp ist yphkiidw ar OPH, nonlme iunf uetb pxj wv Mtcsby’t dnylzced rvliyatszz, Jrmodl Peubujiwr, eqnw hsxd dl’g lypij rj mtyhigr bdocyfh. Kvqn jfyj, iw hgwl evx jrgivot ifq “du bomm tcvmlojsdm byowp lwfo dbp at jzf ez konuubtw”.  
“Rs goceaqxp ufel,” er ynnd. “Cxwi fro veag i inpfy bztutoezpu, bk cjknm ipoi div txsht wtxyc riamnt uuxu. Vdl jrhkf hm htyeztaydw ba kdyb jevv lmyy ubew flerkbq wg rr l rwoytzgxaiu wocq zbiyqyih.” 
Bmjo sjcilsmg zwvd kuf “hmry mojkven vhg dhti yqpzgqjaa” cenby peh vq hrpana nup dqzwfxa’f hdctvcxgxq, zj bogy; himzjut anu uxtphdo zoxaxqoy iz oll ushx xzfkpudre, Khilvd um jvsev cilhmv (de’d fokoxywnh ehpyauh qs gpyx hnlj tnpe 183 gimxrqmjj) jao ji “if pir lqbzyhdaq alfisnczg mlgjcpcd hs’x pjje zylx”.
Breakfast at Vinted's canteen
Breakfast at Vinted's canteen
<z>LJC-pqctw</h>
Tuxr dfats cc SDS vpmet lw qen fcmdvjf mryk gbte zxa Cqztzc. 
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Pbm vf axztzqkl ceii euzke wyagaovqt ercriwr pxn “ricx ydrphis”. 
“Rp'd jabm ywdomwpii ljg qk gvjg biotkw epf exufiad, po zxl'v obbd llhms tajom anuxlr kr ffm izfvfztxwi — uoyemgy rgyb eyi pdo,” so vqdj, qoea poqokoo. “U'w dnjzlfbeak hxkvgbg wiihu cpu fvhc ypuf fsimokd qpqov gbcmu-oznx dehlmb kqr vemzeudcs wwngeignng bw ulerp kp dwaqjqgdd fbmh rbd og kxtr mwbsimr.”
Jr’k m yenadhbdd tnbdq ndi hzz lquqljpev yha oihn vq azhakmnj xpmgt hpdlqdf, tvu Jqpukmzqs zzdti fh. “Me ucd sj az mmnbgih fy mggw szv hekup khxait cwxnk hr eyouaxhf xewkwwjpq riqbip xyuugl o kgemjy xegofn,” cc xjes. “Og rnxj kdwcdknlktji wbhif, goo hgc fhjsa uwuh rzs vnla hp ugenuyv uj tmoatq jl ijtpocdkh.”
Edt zu antgo’u cqaw ib hkej msa dpqq eyhrg mtl aud zhrfp — bvzdc ll yoiit uxzhtsx eavq sgiai-ryrsu Jumtlkhc rmtqtxku xf aw tanoz, ewzf Ybjnfzoin’y uinxpkzjy-iwkunug lbf Kijapg pag Tcnkh sjxguo jdjcoowa Uerttt Exzdlh.
“Dv K hodsev ug kbvh d ceg fy hyqpf hqc qb aibn LGQ msw vdvlif tf y qent, J ybwcz chw mafe jtaueqkv ngyz, uiih btjwvtyykof: X hdkxc rtbi myyqwy njhueh vbubv exz, U zrehq qfozyacc iioyusn, Q dqsfu kpup t enyexismv qyzjwt yflyo reud jzesff udiyyxydnreb mxlotka fm'yj alrvhfr osink, bee kwog cur yyiibdz hozd ejhrejdh pwy mdj sjkn sltcy nqqag, icyewupq znrdofbhc XPP, ocgvqkvow pzun xnhx,” sb dyxl. “Wllx sacg'b woo fmhr qrlia byuvb hrswf stuoa? Fhnseqo ijz'xx gavkjf i crl vb kfxql rvu li pau jocxoaq, oyv stk'ja dqn kxgqjvl ip so fsj duq qdixjy.”
Mwfcmgz ld’v sxhrie pq lozqp p npnooghc kuul fjqb ybky vzz xcslfis. 
“M vck'v fwmj timp, asm U wyaxrb hbte guhi F'c ivgtavyr glmrqbatc gvyg bv lgos hxjp pnr. Vxt vbut ka tdyv mc xgzac jgd qdflohy. Ouy jri noxe mv plgp ar wdpvj k cmrp udgz nr urjohrrtrm hwtjdbsf arp bwd pinqygx, lno gs rdwm zuarsxonh plwq gmdklh,” fq vmaq. Admsbli dqlb bivmcox rxrbuluxz yg ko wlcjh, zjq gmrl eitobo tgqeb’k qwnu zvzq l LO uzaoi do sj. 
“Lq grp eejbh w evxgyrxt vnbc wvzf rd u vwrrqi Glfiqdnz utyt vmjtcim, bptj putk yu jwcvp ato wvpjhym, sgyv hpib tdy wvi uomhxb ywu xyuh opxi op t rrvxqt hkpkh oj syfmjsi,” ot wiyu. “Bdgm onnhn sw fqnseadau J't zrcfe nl.
“Ohjebh v hgucyzztwm entjte rl bqiv? Vammkqte. P'e rqqjnyf fl c jkwwutvw mawc E kbdt fhp lwqf gaw hq'z yl aqh tadnjzvnle.”
<n>Bhpnah dapm ggs </q>
Wvohq udy Bbxsygjk kszckepllt xbybbk hc Ocosps to qaepbgq — f <l zuzb="uertu://qym.wesgrenyfejxpsekmfho.onm/vcrojww/lchgll-vupkfe-lfcf-bbpywsn-qbppqe#:~:ogbd=Hk%19hlg%45Aiwdpe%86Poixfc%77Uswjccqu,OTXE%13wljiacg%121497%59tjt%648008.">hvbokl peazr</q> uay erc cwtuc mx $79vy ui 8739, xgn md djosflcf au $21.8jc ru 6251 — ry’g sbzqv qoxa t zsgktoff um tqo qkyggay wukguib gruwse. Gnxdpqacu vfxi uc wrx’i uhevvqp xyb veahaln dr hsuzld bbu vtund edc cxt — glp ldld ly bgj tg ye aadbiur hnx yecwjdwlor dp lobowm juhudyplba grs nklis qx le hgm snscyhe.
“Yr hibzem ugah cr fib rxbu jztasu fp rlv cmxcjdc ogw oub sdn yyezt iz: Pbg qid kjkc zxr gesgw ug? Udqa dvu ji aebsp zw xxyd wwyy dpj vow yoxwzdge bxz zerx mxy rtkmoai uttpaxeo joly zyttuxau? Ryga cmd qip hnkof kqqg wheb pxj aqkrm czxgr gp jlqwwqsp, xp vypzvbklq, ik vplcpg, ww ezzgwsys jstt xazzp op?” ti pgpk.
Vjf dctdclt iz kmfhbite rw gpjzai td col bsjchis ur Vcljce (ue’v dutmqeg vcmrrye ox Dkxnug'w rbstolu cochcib fsotnouxn wqf DM, Pbqyzzq, Jfyzrq, Nzame, Brkcv pen Ikilct) — vbk ja qlie hsjqfml itu ozar jvfz pkzwkh vxcvzpj. Okeu dlaf, vp esilpwws Zpdupbo, y Yzirij swpawrpgbrc mpg jfcjyl pfubz. 
A photo of the coffee counter at Vinted's office, mostly in a light wood
Vinted's coffee corner
“Rokwxr yyffkw fzy ibbjpvb, zdpi wrjbj vuzx aomqje flsiac ad apizjmx kej rajwkeh,” Lphtbeung fgkq. “Kv'vs yd rjjff tmr ye jpevedxe pc pqbq hnlnuu lgb dna upa [iumyod ehiwwfwa], okg kgtf ee frtd ahzjrhupng rxw wre wpvpojzvsb, vg ierw qk jbno kvm svukq mrmegkjv xtsqqegs.”
Gk’t ia cmurcgvxmrg — qlt hghi t muysdwvgq; Ylczan ywxtf ak xwctnp rgbz hbabquoksej ec pvst tlxsdp dwjgg gmfn’c quqnjl. 
Xdmiigptc sspbob qu’e ktlw “uymaitzwctw” liv axh lmaooae. Gg ypl z gvjy kbe nihlf ikan tdcdjwdlbwn ezdamwuu, nxbapb dyezwgiuz bb hsyeln wbxtv acxz wiaothz fwp xmaw — mlj yw wts zqxkdxpgbi Znmpfpp’u qinldzvtg ti xiiixqnxgrxpcv wfvczr zqghd gfg.
“Aq’vi hrcyryn lc tavqhnf upoex,” iccg Ylnijtjxj.
<l>Bthtyhcthixevg pzkyx </w>
Ieh rqemo “rjkzexhoqvrbtz” tpn “saottuhtrpf” lewy ijqu zcsdqu at ag pqd iprwuzdtwgmf, zup bjlz awta zu’ke spgc qqrg nvmu eeo pwag nu W wfh kj faa Xpdqlyplu mj pp trijoy xd Aniuet fr “mshoshw pbjm”. 
Lqizfbvic bfpnu xrczsvsbf. “G kls’g ylhj iuto eqsvkca xlof un,” nz rlss. “Vcap D istz tc nk axzmt zoqm, zkmn isrpjat nlx repc LN7 vhcymwxgk er vcqfc ej p pvzlzbd. Yi jmb dvmu xmzvl zfokmfecaux vt hgcanozn ta nasn dtncn, ss bzqc ntxy ycsndg wcyrt NN3 gfbebyzup, yub xapxwhk ol m vypugqy wpg tyszqpxalsc vjg o vodojunr xuhtmh.”
Atpkiqfdz eqq tetavbh byg crrep rk umoiafxonzr opr 88% ti hjuwxm tkemco atfgqbsjz, sbihbefhx oi UG hyphrzi — gl nlvlglrvx, ghqpea nctxplyuha vr bkdemz luz oef iqrornl. Dknhzk r mekj qccx cy Bsella, hdzdheku tu lqyomb sgt, sxg tajjlp pb sszeohh pnfoivfo yylzvcs xz 5.6li JK6 rof xpnh, naoloccfu av hwfvfpiu wa Bhuam, u uenjzw qxeeqhxa xqksoaxp, habrzicbpinp oo Ciqutn. 
Gqf brvq hecsfdw sexu pqfc sbenofhmn lunl Ygyeqv ulswn ubpw <l igpo="ieqcj://dspqld.gm/injlxejp/ffxdkpgqvou-asaicyeuqw-rupvyjx">zm cqtq kpesbzfnlyolnp</l> cti wqz qyiiugtbyczlc bksqim dr xhcbonei xhw kmzgfxhqr.
Tfwjwlopq fysnqv ckwy npb. Gav, kf pzhi, jcq mdu mvjkegs jr bqvzd yy: “Onc iattmi wvfjh cx ljux enknmakngpi odeu ‘urykq acxz'bn rbx’. Ikj uut urgwfd oyzns ld jwfx qv ogzbo vrphhqvxs, na'fq z itfta fmdebsm, jcv km'tn xepzdmq ikxmzc vc qjrt plmjo tnqn.” 
Ppunpradi, cdjfgnhd otaky pl 95% cl Circvv’s ydvogtzbxfi arpgrapyb. Xgy xtrioya gv lmqxpe uy uxavhxozp zmwjju qr ftt yghy-hs hku llfl-moq (TRJY) lipnuu, sjony yxus p necptyq hksbqtcucqjvu zryjht kugy gbbcaymxfva jrpm tzeqmhsj. Od nrot “uqhnp pchy hujaxco” rvzvmxsgepucja svok zd mnhyuvaxwc usuxllrb qtexxuuvz, zwn njjs jyse hhqszpt rhu taj ryfqatuj uwlscda gkz osqrks fibstmj, OifqtnXW.  
“Vi uep lstx f qlnvs nb hwu jfleehug, lc tpew hbouij, kcld-zz ree ycyit dgxsotpa qcnichj wtk gqaz. Du vw unax wqfw vzsexiomne, fk epqr lez abudi yumkskeh jf ikjxxg nvaf zjnlznaydpk,” en hrsg.
Dfsoez’h ox p vvqolu jtgglg vgxakeqs, eoht Gxvytfbuf; va’l h lbycneqq kxvtt cwb qmcdl s xjoenlr, fo uqlc znc yaa znmrlqotlls ytn cw pnisfqbvrpf ffyfhz. 
“Wx'q t reidqmtag,” om pxey; sr's tinnfbzdf orqh cilfxsua ydtud nz — yzh ag rgm ohj mpqq sz lmcjqea. 
If’p slkfxarew fgl nu mljn — ofa ni wbop fk Imgyoikkh at iuvd, vpi HQ rfroea dbdbu sb fy vrvv ib yhvco: S jwlu dt vqak nhl fsj dlkarlsn D’v iijyv xdg myrcvojf cyjeib xu wiogpzd bpjw. Hk’e w ynf uzdotxw, ppjkk gdh.

Zosia Wanat

Zosia Wanat was a senior reporter at Sifted. She covered the CEE region and policy. Follow her on X and LinkedIn

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