The average woman has worn just 20% of her wardrobe in the last year, but continues to spend upwards of $6,000 year on new clothing and accessories, leaving many (including me) with a closet full of extra clothing. So the idea that you could start making money off of your unwanted clothes is compelling for many women. Today LA-based Tradesy is hoping to solve this problem by launching a peer-to-peer marketplace that allows women to trade clothes.
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. In addition to posting images, sellers may also add video to their listings. The site also has a proprietary pricing recommendation engine that reflects what buyers are likely to pay for an item based on the designer, what’s selling on Tradesy, trending styles and condition.
Once an item is purchased, Tradesy manages the transaction and the shipping process, and accepts returns so that sellers don’t have to. When an item sells, Tradesy sends a prepaid shipping kit to the seller’s doorstep, with the buyer’s address already in place. 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. A feedback system lets buyers rate and verify sellers, and buyers can re-list any item purchased on Tradesy with one click once they’re ready to part with it.
Additionally, you can “follow” other women of a similar size and taste on Tradesy, and be alerted when an interested item is listed or marked down in price.
Tradesy’s founder, Tracy DiNunzio previously launched a marketplace for clothing, but in the wedding sector. Her site, Recycled Bride is one of the largest wedding-focused marketplaces for used gowns, jewelry and more.
Tradesy is also announcing they’ve raised $1.5 million in Series A funding from Rincon Venture Partners, 500 Startups, Dany Levy (the founder of DailyCandy), Daher Capital, Bee Partners, Double M Capital and Launchpad LA.
Tradesy isn’t the only company trying to help women sell clothes. Threadflip, and Poshmark are also playing in the space.