Posts tagged with "Tradesy"

Tracy DiNunzio and Alexandra Wilkis Wilson

Tradesy buys Fitz (founded by Alexandra Wilkis Wilson), launches Tradesy Closet Concierge

By   – Correspondent, L.A. Biz
Apr 4, 2018, 5:17pm

Tradesy Inc., a website that lets women buy and sell pre-worn designer clothing and accessories, has acquired Fitz, a service that pairs customers with personal stylists.

Terms were not disclosed.

With the acquisition, Santa Monica, California-based Tradesy is launching Tradesy Closet Concierge, a service that includes wardrobe management by stylists, including organizing, styling and resale consignment services.

Tradesy Closet Concierge is currently serving the New York City area, including Manhattan, Brooklyn, and Queens. Tradesy plans to expand it to the Tri-State area and Los Angeles by the end of the year and all major U.S. cities in 2019.

The business’ most popular service is the “3-Hour Closet Curation,” in which two stylists reorganize the client’s closet, typically evaluating more than 200 items. Stylists work directly with the client to decide what to sell, donate or keep, and make shopping recommendations on the spot, as well as after the appointment via email or text.

Tradesy said the stylists, many from design schools and fashion houses, will collect the items for resale on Tradesy, which has six million members. The company said the service also offers women the opportunity to make the most out of the items they resell. The tiered commission structure is the lowest in the industry, enabling women to make up to twice as much as with other resellers, according to the company.

“The team at Fitz built an experience that absolutely thrills customers. Women just fall in love with having a perfectly organized closet, and form amazing relationships with their stylists,” Tradesy founder and Chief Executive Tracy DiNunzio said in a statement. “We’ve combined this top-tier experience with a new Tradesy consignment service that makes selling even easier. It’s everything busy, stylish women need to fully manage their modern wardrobe.”

Prior to the acquisition, Fitz operated in New York City. The company was the brainchild of Alexandra Wilkis Wilson, co-founder and CEO of Fitz, and known for her roles as co-founder of Gilt and Glamsquad.

“Tradesy is the ideal partner for Fitz,” said Wilkis Wilson. “With Tradesy’s robust technology, infrastructure and large fashion-savvy user base, the service we built will now be positioned to scale dynamically across the country with Tradesy’s millions of customers.”

Tradesy’s website and app enable sellers to earn money for apparel and accessories, while buyers save up to 90 percent on designer brands like Louis Vuitton, Gucci and Chanel. It has received $80 million in funding from investors such as Richard Branson and Kleiner Perkins.