Montréal-based Minitrade.ca, an online retailer of used children’s clothing, has secured $630,000 in seed financing. Funds were provided by venture capital firm Ferst Capital Partners, FIER FSR, and a number of entrepreneurial investors, including Martin Aubut of L’Oréal Canada, Pierre Delagrave and Malik Yacoubi of Cossette Communications, Martin-Luc Archambault of Wajam, and Daniel Robichaud of Password Box. Founded in 2012, Minitrade.ca reports an increase of active Canadian members on its site to 6,000 in one year.
PRESS RELEASE
Online Consignment Retailer Minitrade.ca Hits Home Run for Parents With Unique Trading Strategy, Securing $630K from High Profile Investors
Supporters of Minitrade.ca cite value, environmental consciousness and timely arrival in retail landscape as promising growth indicators
MONTREAL, QUEBEC–(Marketwired – Sept. 11, 2013) – Recently launched, Minitrade.ca, a Quebec-based online clothing consignment service, has announced expansion, thanks to a suite of savvy investors contributing $630K to the company’s future growth. The site, which has increased to 6,000 active Canadian members in one year, offers busy parents the opportunity to purge their cluttered closets and purchase new and pre-loved top quality clothing brands at 70% off the retail price.
Canadian families spend a reported total of 800 million dollars annually on children’s clothing, yet much of their children’s apparel, especially in the baby and toddler years is often worn only once, or a handful of times before its retired for potential re-use down the road, thus diminishing in value and style. And while Canadians still enjoy shopping at bricks-and-mortar establishments, the increasing growth of online shopping and newly-established e-commerce retail extensions indicates consumers are looking to shop more conveniently, to suit their busy lifestyles and seek out the most competitive pricing. In fact, in 2011, Statistics Canada reported Canadians spent $15.3 billion shopping online, with 83 per cent of those shoppers placing orders with businesses located in Canada.
Armed with marketing savvy, a keen eye and a professional background in fashion, Minitrade.ca founder Isabelle Doucet established Minitrade.ca like many other sound business ideas are born – with the recognition of a gap in the marketplace discovered through personal experience.
“Prior to having children, I would have scoffed at the idea of purchasing previously worn items for my children,” says Doucet. “But once I experienced the frustration of investing in my children’s wardrobe and having expensive items outgrown while still in absolutely pristine condition, I knew there was a better way to dress my children fashionably, in quality apparel while having it make more sense financially.”
And make more sense it does. Recognizing the value of the service offered and the mass appeal of offering Canadian parents a convenient way to save money, de-clutter and reduce their impact on the environment, in a short timeMinitrade.ca has raised $630,000 from high profile investors including Ferst Capital, FIER FSR (Fond de Soutient Rive sud), Pierre Delagrave (co-founder, Cossette Communications), Martin Aubut (Director E-commerce, L’Oréal Canada), Maxime Lemieux, Martin-Luc Archambault (CEO Wajam), Malik Yacoubi (VP Technologies and Mobility, Cossette Communications) and Daniel Robichaud (CEO Password Box).
In addition, the recently established Board of Directors boasts the expertise of Malik Yacoubi, VP Technologies and Mobility, Cossette Communications, Dominique Ferst, Ferst Capital Partners and Hicham Ratnani, co-founder Frank & Oak with Martin Aubut as well as Doucet, Founder and CEO.
Minitrade.ca also sets itself further apart by appealing to the discernible higher-end shopper in search of designer duds for their little ones with an absence of big-box retail brands and the inclusion of a range of high-end designer offerings from coveted brands that are both pre-loved and brand new, thanks to a range of business agreements with various designers and retailers.
The potential success of Minitrade.ca hasn’t gone un-noticed publicly either, with the recent designation as a finalist for two awards – ‘Best e-Tailer’ and ‘Most Innovative Retailer’ by the Canada Post E-commerce Innovation Awards.
About Minitrade.ca
Founded in 2012, Quebec-based online exchange service and retailer Minitrade.ca was established to provide parents and caregivers with an outlet to de-clutter and purge their children’s outgrown apparel while conveniently purchasing new clothing items at 70% off the retail price – all from the comfort of their own home.
With a quickly-growing community across Canada actively trading, buying and selling brand new and pre-loved items from conventional and designer brands, Minitrade.ca helps meet price-and eco-conscious Canadian parents’ needs for children’s clothing without sacrificing style or quality.
The privately held company was recently designated as a finalist for the awards of ‘Best e-Tailer’ and ‘Most Innovative Retailer’ by the Canada Post E-commerce Innovation Awards. For more information, to join, or to browse their fantastic selection of clothing for little ones, visit Minitrade.ca.
Contact Information
Impressions Public Relations
Sheri Helman
(647) 622-6325
sheri@impressionspr.ca
Photo courtesy of Shutterstock.
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