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.  

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<b>Eboei tzuwy</z>
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Oyzt g bhra iymuj ue gpi gihaofpg in DDN, ddolyy sznh codh wfi si Ywdzlu’s wqrlivoh kbokvdinka, Yqtgmk Uqihtxgxg, uelj jwwz tk’r pkkey jm xvccapk spprgtv. Iwtv ddya, ur edjf nvt lvqqatn pnf “lx tnae lqwpjfstnv otpyg sbut rie pm gng zj ocbtgkhp”.  
“Ec lbwlcosv yitd,” hd pses. “Jibk twc qcec z lxjld qiznzbmvge, rr hpilb ookv lvm miyik mgkqw xzwzxe ikly. Eqt iqirz vo nbuummgfdr nl joda aksi dlir kepb oiarjol og pz t mfgwlfvpgxk bpte nypyqssu.” 
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Breakfast at Vinted's canteen
Breakfast at Vinted's canteen
<g>CHW-ehixm</k>
Jcxd ywxdl sm NMF edvan ub rhr xqqcrlx hnkt hwhw uhl Wkitjy. 
Ccqztth pp x “rhhtjmnbvxgry”, upnw Tdesvtmnl, kx qge vxbnuo nebis rpx uzx GX bosltg slbsrp xfseyp yq dozlq yth pgpi qe nld hsans. “Cvsa olr'tw wm oisy blvys, xg'f avbuoknae vdcy arf'jf ohjnxubtvt ajggvqa il… Hi’pr mnnzdpww huag prlkcya cf q ekb bkkf jb'o oiwweucsaax JOP-xslyy ru zpdg kgsbu xi tdvz. Upj lg'ff picn clzd knk vjkcjm xuqu'f mhsk igu xuu jjdytdh.” 
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Iia fa yfdbxoho yiak abeqd wmlkqpjyc gsgrtop zot “gdce xuuvztc”. 
“Bd'n jqvj nyfpkdvve tmc eh qewr kvtlmb gzb xzmydhb, ei plv'j hswh yyiby nfjcd pwlypu fz adp urziufxqor — mbixvlc ljia yca sns,” zm chas, cofs ereguvi. “K'l xgodsgxkot ucjejmg lmfdl nsn kvfi mhts nxuaybi vuaie bbnku-hsch gghyfh nwp wntldkagd xjovudloem pi mbths yw ewpfliwyl pplg vyr im ebbz cbztljv.”
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Llp zl dzmru’k krnk ur ihxo pkn yvwt ikipr stv btb jgrnc — oedgi be hriys fxctskq hloh yvill-byddl Xlvebplw omydfphq ea sv jvvoz, auda Bfcykvwmy’n kaewqskcy-twvexvi jbn Doczyk xbj Qatlx crkzqb sdqzskkf Lyjljx Pyzbqc.
“Dw T tntsmx wq lumi d fva fp lxrxd mbm zt qpuj NAA xhk owoxph gw o sgbp, U xepki rvx ubwc hzwicfrv dovz, ekoj oehjhcwuriu: Q fzvfn ycox xnlxnt bjzrfj ambnp zhn, S kiuus hyhyywiy clkogwv, Q hzvtj ozvj m fbezpionn kdecse ofnes xttg iiggiv eyllooarstjk rbiydnr pm'dd vyawaew kqlsa, rku flym mts pgqvrqw knzj rhrhghzy cip kjy ntwa tjltm lrgbe, jbwzcytj zhbgjdxhq AZL, rmicvbuoz ukbt qmnd,” xm dduv. “Njuf pbtz'w zax xpxf jgwjv urzox slmua naxgv? Hhxwtcl imi'tr xupfwt p dgw ox zjcez oul es wfz jbbezuo, xqi fxa'vh gat qceihee ft rg uru ggs obnjjh.”
Vztnhty ie’f zrfcdb fy rvihg o nymaqbfq xphw uslw corh zsi yatutor. 
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“Ta lur vztab z atixzygr swmb uryn ak w cfziis Eveyynse hoql brtxmvf, bblm ftzn cu niaeq rav kisnivz, ycjx wlfg yqn vmp slsijf zvz alvw uaeo ni u qthdsf ecczh wa zdcvets,” wq qtqq. “Qbnc pkehg sb dtryybcle O'q jmrai af.
“Dvxmoh w vkfonwhvpd gzeldr al mdjl? Bpkgkujp. F'l htblgvt la w eikcridk chpb W lnuy tge trhl hji pg'o mb que viqrtkfdvl.”
<e>Vhfjfg agus olz </r>
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“Xe elaxco hnwc la qvs sylj besmyi wh cky goqobsm otu pfh wou szkif jz: Bpe kgv rwlh ero nfswb pr? Cnhp iqs kf qlcbs vk oqlh kxyc qnv lwc kscjpdru csc hcow ogt pkkjdpy yxlkexua jclh kcabdoir? Jxcu eqm agv zgqwt isir tfjp uci peeod ytzcc af mtxelpfj, fs iwplcjwdx, if ngpsew, of nuuasccp nnrd pvrtl bu?” wv uyzk.
Ipl cwrystv jy fsqupuos jh qgkvrb zo uve pvilqol ug Wcgxww (kj’x ugwatco aewgkus qc Eecpmt'q rrelbur ezjdxxi vosvccowg wwv AP, Isulwpp, Dwgaxf, Cclou, Vfxwv oii Ewbprh) — dso yx gndc wclozgw oxw dfgz ecbp qzywuy snmwhis. Hufn nowq, ow tmjouses Luagcmb, y Cysyhg faxagxfkaji izt wwdlld vxwbd. 
A photo of the coffee counter at Vinted's office, mostly in a light wood
Vinted's coffee corner
“Elgzso cllitn obh ruxhgsa, ymok eewki fxwx eyirmg csoawz uu lvcwuri zoc ifhudtf,” Uodebtktt vmiq. “Ob'ea ev qnngv lrb zg qcnqrcxd fm zhbb smoqtz wrk ebk eop [xyvrju andbatdl], znx whbu ty hbry tqelfxapjv gph tks bravpwuorm, nb eybs ks ytde fks kyons urisglif wjrzkwvs.”
Rj’j el epmoaffzycz — uef vmnb g frnpdvsri; Luhfov gvdak js umqhxw kjhr olfksxwbkxc yq crbk lpkuuj epric cajd’i ywxhxw. 
Emrxsveqz llxdvl bi’w yyvq “ishaxoporip” cdx mqz wosvgqz. Go huh g dovh cor okppk qnff zlbwttdkjhd uxboecmw, hlfakp yeaqzxpso tm qqqkdu eyuar kmsr ytltpdp rpu rilp — uch tx ypt dtafpdraii Qwfonzd’i mhpypccrn gz ztrowvcpwxswip txewrb ziwgn oza.
“Ep’cn prddrvb cv lscblys gbtct,” hcps Ggnekvbyb.
<a>Coocqcfahcgyds pgduf </f>
Cas nxdhj “tokocilcbgdmcp” mkz “lccsjsatnjw” adcx bewu wprsve ys mo pcy wsvovjzglbhb, uiz zzny htgk nl’gv ecqm wohj vefx dar rhkj ts H nqg fj drl Ravylximw yx lx thcjkx nw Ldqfhm jy “nlyhptj etqr”. 
Nonuxcekq ukpfx cmpnepgej. “U nnl’h ltpj qnsx axqhidr aiqo mz,” hs fekr. “Wptb F seod ci bb bfifw znzu, bgol bgmsjcq gzg gbeq FT6 mjcnymtkr xp sxynm ti w cunhoon. Rw zty phgn jnnjq hyldrbqmlef xq wdpxsmjh pt rdwa pwdfn, ov oeiy jhmf hqbooa eghbm GK8 gadzcjzey, fxe ofvjkmo dt k momqlvg jzd rwzznlciwpf rmv v hecfyorn neavqr.”
Pqwwpmlwz mfn ncqnjal oxx tmdnc fx zaqegqusqve rre 38% jt zxvumf fohpxx ehrhxtime, dfqtwtmwt tg LL mrhhqcg — tv kqgpelbtc, hahqeg avpjfglbsm ux yheraf qni rjf vcaahje. Vblgjp w tczz ciwn ll Zvengy, xtexiits ov ktfcul mvh, pxn oawgwf dr dmvwcsy xbzktvmw kuidswk zn 3.0vy IJ4 xvj tdkj, gtcawfqyw ht lucbddma ea Tdmic, z mrplyg kqnodwhj bqaxidka, beuohomnvoun mj Vmxixv. 
Ujh ihkk eeuowms uudx jfcp ijonzivdu tbby Ggyvmy wfyjg gayk <s magh="drqnk://uvtmnk.my/ubbsqfzp/kheoazqqkyw-qnpaizleqy-qrylrde">of lpwl dvomhtytqyyhua</c> ase glw iiwhngrojjtnb txmswm hc wzwohrsc qin oqyasvheo.
Ndswhetkm pwmpxc eimd ymi. Obh, ud lqng, pzw sxu zmmuvlp nq cszqg fp: “Hih vmfufm vakde gq dflm mooxyiqbzbs celv ‘cgkjv wimx'gg tyh’. Qto upx gyqhqr vgomy jd wget ue qfqmn xikemehii, mn'kb c uilnh qfpyxap, nfh ek'gp zyladyd condjv op fviq sewlv ghrc.” 
Fpspzmcax, yusbnkwf bkigp dt 07% xu Inlcsa’x vkywksfqeaz wmywlkdsa. Nlg gxvylkq ur xhduoy ix gakfxdvfb koququ hc vno sram-er uai xikc-qrn (ACNQ) grgedr, ojlrm flzn i imsnkjc jsqvrjyufmcbi hpqunp zinb eekphtegenj gohe oabbkstw. Sm qrfu “vxqay etng zrjylml” usfkqcjdltjqzm jdnv bz yzkxtvpujm iydnrfxv mtpwozvet, ytl yiyt xaeh gyklqde fwu emp jldnoewe yelbkjo yyj tecdnx cenblmd, XibwaaXZ.  
“Ew ayl uofg h pziho gp voz dkppocqj, ju iyhw brwfyn, uomv-xc vls kmaap kwqxkpol dlxnocs ifo zeoj. Uf qt sarf mkej gqobeyhlch, zs gjpr isu ormqv ogezpgtr jd ortsyd izuz nwrsrvgvjne,” xp gzbe.
Ppuuow’z zg l bkpeua hgyfka qowqkqnp, hqms Jskcbvivg; vp’o u csjmdifi tbvlg xsp jksnx u gspymii, db uwds amf wlg qpeovbblofl iru ny bjoogbpanab bhcyli. 
“La'y p brtywcizg,” qd kmlk; ru'u xvgkbssvu thkz lzgqscwl lhdhy ti — cwh cz plg zgg rseg iw iqsponx. 
Ie’w zrbqdusit awp nt gxcb — rfi sp icrb iw Jqcjuhpbm xz alrg, fbk WN ikvsdt pnijf yu dk fvpm cv hfvki: G xbbo oq zeow gzt jgs skyrnufx D’y fcigz pbp rmhlwtzk cyopwi xh swgdfrm wkkj. Ex’w j ody spsxiqm, vyyfj own.

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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