Frugal Moms Rejoice as LoteDa.com Launches, Helping Them Make and Save Money
Industry: Children's Apparel
LoteDa.com is a new marketplace for moms to buy and sell “lots” of clothes, categorized by gender, size and season.
Cincinnati, OH (PRUnderground) January 16th, 2014
The average U.S. household spends $804 on clothing per child per year. It’s a big number that can quickly grow out of control.
LoteDa.com was created by Anna Fendley, a mother of three who found that all too true as she was struggling to keep up with her kids’ clothes. As her kids grew, she was constantly shopping — watching both her extra spending money and her free time diminish. It was a fact of life that became more apparent when her daughter was born. After having two boys previously, she suddenly found herself with five bins of clothes she didn’t need, not to mention a new baby that was in need of an entire new wardrobe.
“I really wanted to try and recoup some of our investment, in hopes that I could put the money toward some baby girl clothes,” Fendley says. “I started researching online and was shocked at how limited the options to sell and buy in bulk were.”
She envisioned a place where busy parents like her could save time and money by buying and selling “lots” of gently used children’s clothing from each other.
She guessed that her experience was not unique, and investors agreed with her. In August, Cincinnati Innovates awarded LoteDa second prize in their annual competition which is put on by seed-stage investor CincyTech.
“We’re excited to start building a marketplace where parents can really help each other, and we’re ready for them to start selling,” Fendley says.
The idea behind LoteDa is simple. It is focused on making it easier to shop, and more lucrative to sell. Parents organize their clothes by gender, size and season, photograph them and then post them for sale. Parents in the market for clothes can then login, search the site, and purchase an entire wardrobe at a hugely discounted price.
“They could really and truly help each other,” Fendley says. “At the end of each season, when parents have a bin of outgrown gently used clothes and no one to ‘hand-me-down’ to, they can simply sell it to a parent that would love to receive a bin of ‘hand-me-downs’ for a small price.”
LoteDa is the perfect way to outfit a growing family. It provides a lucrative new way for parents to buy and sell gently used children’s clothing. Items are sold in “lots,” which enable buyers to purchase an entire season’s worth of clothing in one transaction.