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Turn Your Closet into Currency with Tradesy.com

Related: Tradesy, Apparel, Accessories
Turn Your Closet into Currency with Tradesy.com

Tradesy, a new website that unlocks the hidden value in every woman's closet, launched today.  Tradesy gives users a safe and easy way to sell their underutilized clothing and accessories to a community of fashionable shoppers. 

The average woman has worn just 20% of her wardrobe in the last year, yet continues to spend upwards of $6,000 year on new clothing and accessories, leaving many with a closet full of "nothing to wear". Tradesy solves this common problem with a peer-to-peer marketplace that brings the ease of retail e-commerce and gold-standard customer service to the resale market for the very first time.

For sellers, Tradesy addresses pain points that have previously kept women from engaging in online fashion resale. Listing an item is free and takes 60 seconds or less, via web or mobile. The site also helps maximize the value of items for sale with a proprietary pricing recommendation engine that reflects what buyers are likely to pay.

Once an item is purchased, Tradesy safely and seamlessly manages the transaction and the shipping process, and accepts returns so that sellers don't have to. And while other online marketplaces charge high fees that quickly add up, and local consignment shops pay pennies on the dollar, Tradesy empowers its users to earn top dollar for every sale.

Buyers enjoy both great discounts and guaranteed trust and security. An open feedback system lets buyers rate and verify sellers, and buyer's remorse is eliminated with hassle-free returns on purchases from any seller. As an added benefit, buyers can re-list any item purchased on Tradesy with one click once they're ready to part with it, making it easy to trade up for a new treasure anytime.

The site isn't limited to high-end designer clothing or curated vintage finds (though there's plenty of both). Instead, Tradesy gives women access to a variety of in-demand brands and styles at incomparable discounts.

Tradesy's founder, Tracy DiNunzio, has a track record of building successful online marketplaces for women. Her other website, Recycled Bride (http://www.RecycledBride.com), is the world's largest wedding marketplace and became profitable in less than a year. Now Tracy and her team have identified a $165 billion dollar opportunity in fashion resale, and are going after it armed with the learnings and data gathered via Recycled Bride.

Tradesy is also announcing they've raised $1.5 million in Series A funding from Rincon Venture Partners, 500 Startups – founded by Dave McClure, Dany Levy- founder of DailyCandy, Daher Capital, Bee Partners, Double M Capital and Launchpad LA.

"Our most important investment criterion is the quality of a founding team," says Jim Andelman of Rincon Venture Partners. "Tracy and her team are passionate about this category and have intimate knowledge of what works and what doesn't for a resale marketplace. They're taking their accumulated expertise -- and proven ability to execute -- from Recycled Bride, and applying it to this much larger adjacent market. Our second most important criterion is customer value proposition, and we think Tradesy will provide the best customer experience and utility in the category."

"My dream is to show women how to turn their closets into currency," said Tracy DiNunzio. "We view our belongings as things that we 'own' and are, in a sense, stuck with. But what if we could all see our wardrobes as interchangeable, and our clothing as assets that hold value? Then more women would have access to the fashion that makes them look and feel great, without the stress of overspending."

Tradesy's Unique Features include: 

  •     Pricing Recommendation Engine: A unique algorithm provides users with pricing recommendations based on what's selling on Tradesy, current trending styles and brand insights to maximize sales potential.
  •     Free and Easy Shipping: Shipping, packaging, and insurance are included in the price of every item on Tradesy.com. When an item sells, Tradesy sends a prepaid shipping kit to the seller's doorstep, with the buyer's address already in place.
  •     Hassle-Free Returns: Tradesy is one of the only online peer-to-peer marketplaces that accept returns, alleviating the uncertainty of buying online from individual sellers.
  •     The Tradesy Trust Promise: Sellers are paid only once they've shipped their items, and their shipping tracking number is activated. Any seller who has misrepresented an item on Tradesy is banned, and the cost of the item is refunded in full to the buyer.
  •     Mobile App: For on-the-go selling, Tradesy's mobile app lets sellers post items using a simple, 60-second mobile listing process.
  •     Beautiful Images: Tradesy improves the quality of item images uploaded by sellers, which in turn improves sales, by cleaning the background from each photo and enhancing image quality.
  •     Follow trends and alerts: Tradesy created a tool where you can "follow" other women of a similar size and taste. Find the personality behind each unique piece, and be the first to know about it. Users can sign up to be alerted when interested item is listed that they were looking for or marked down in price.
  •     Video: In addition to posting images, sellers may also add video to their listings. Videos allow sellers to show off product attributes in detail.

About Tradesy

Tradesy is a peer-to-peer marketplace where women buy and sell new and gently used apparel and accessories. Tradesy's mission is help women get more of the fashion that makes them look and feel great, while spending less. The platform was created by a team with deep e-commerce, technology and fashion experience. Founder Tracy DiNunzio launched Recycled Bride, now the world's largest wedding marketplace, in 2009.

Tradesy's distinguished investors and advisors include: Rincon Venture Partners, 500 Startups – founded by Dave McClure, Dany Levy-founder of Daily Candy, Bee Partners, Daher Capital, Double M Capital, Launchpad LA, Miles Beckett-Founder & CEO of EQAL, Chance Barnett-Founder & CEO of Crowdfunder, Sam Teller-Managing Director of Launchpad LA, and Sandy Grushow-former chairman Fox Television.

 

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