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Illustration: Sarah Grillo/Axios

Tradesy, an online marketplace for secondhand high-end fashion goods, raised $67 million in Series D funding led by Foris Ventures, John Doerr's family office.

Why it matters: With climate change (and ESG more broadly) solidifying itself as a mainstream concern, companies like Tradesy that help consumers cut down on their consumption and waste are seeing exploding interest.

  • "That's really what we're doing—to kill fast fashion," founder and CEO Tracy DiNunzio tells Axios, referring to the trend of apparel brands whose low-priced, quickly produced goods encourage consumers to constantly buy new items.

The big picture: Tradesy is among a number of online marketplace for secondhand apparel, a category that's seen notable validation from investors recently.

  • ThredUp went public earlier this year at $1.3 billion market cap, while Etsy agreed to acquire another marketplace, Depop, earlier this summer for $1.6 billion, for example.

What they're saying: "It's important not only to look at the price tag but also the resell value," said DiNunzio of the perception that luxury fashion goods are inaccessible to the average shopper.

  • 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.
  • Many shoppers also use Tradesy's app to look up resell prices when they're buying brand new items, she adds, touting the company's pricing tools.
  • And while it does sell Rolexes at $5,000 a pop, it also sells $70 sweaters, DiNunzio points out. The average clothing order value is only $85, she says. (It's $160 for shoes, and $600 overall.)

Of note: As part of the round, Jeff Housenbold is joining Tradesy's board as chairman.

Go deeper: Scaling the low-waste economy

Go deeper

IPO for shoemaker On a sign of growing demand for athleisure products

Runners in front of the New York Stock Exchange this week. Photo: on-running.com

Investors rushed to buy shares this week of running shoes company On in its stock market debut, amid new signs that consumer spending remains resilient.

Why it matters: Apparel sales rebounded earlier this year as the economy reopened — and buying athletic apparel, especially sneakers, is one pandemic habit that’s not dying out.

Updated 1 hour ago - World

Reports: Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince earlier this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

Details: The missionaries had just left an orphanage and were traveling by bus to the airport to "drop off some members" and were due to travel to another destination when the gang struck in Port-au-Prince, Haitian security officials said, per the NYT.

2 hours ago - World

Melbourne, "world's most locked-down city," to lift stay-at-home orders

Victorian Premier Daniel Andrews during a news conference in Melbourne, Australia, on Sunday. Photo: Quinn Rooney/Getty Images

Melbourne's stay-at-home orders will end five days earlier than planned, officials in Australia's second-biggest city announced Sunday.

Why it matters: The capital of the state of Victoria has had six lockdowns totaling 262 days since March last year. That means Melbourne spent longer under lockdown than "any other city in the world" during the pandemic, Reuters notes.