Luxury re-sale platform Tradesy raises 67 million dollars
A monogrammed Louis Vuitton Pochette bag sells for 560 dollars. In another listing a Cartier Tank watch in steel is on sale for 2,700 dollars. Pre-owned luxury site Tradesy is the latest platform hoping to take a share of the booming re-sale market, a category that has both consumers and investors excited.
In a Series D funding round, Tradesy raised 67 million dollars, led by Foris Ventures. The investment will see the company expand its apparel and accessory offer and drive the sale of the average cart, which the company says is 85 dollars for an average clothing spend and 600 dollars for an average order.
Tradesy founder and CEO Tracy DiNunzio told Axios “It’s important not only to look at the price tag but also the resell value.” Many of Tradesy’s customers cycle through the high-end items they purchase, wearing them for a period of time, then reselling them and buying new ones, cited the news outlet.
The peer-to-peer resale site also installed technology veteran Amy Gershkoff Bolles as Chief Operating Officer in a new appointment.