[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]In order to increase its presence in Pakistan’s thrift and vintage e-commerce, Swag Kicks, an online platform that sells pre-owned apparel, footwear, and accessories from well-known international brands, has raised $1.2 million in seed capital, the firm announced on Thursday.
According to the business, i2i Ventures spearheaded the investment round, with participation from notable venture capital companies like Techstars Toronto, CrossFund Hong Kong, Rose Lake Ventures, Elevation Ventures, STAK group, and angel investors. Nofal Khan, Mateen Ansari, and Hamza Abid co-founded a firm called “sustainable fashion” that purchases worn clothing and shoes from all over the world, cleans and sanitises them, and then lists them online.
According to the firm, it has served over 100,000 consumers and has over 25,000 goods on its site, including shoes, clothing, bags, and accessories. The business predicts that the worldwide second-hand market would increase by 127% to $218 billion by 2026 as a result of growing prices and declining purchasing power.
“At Swag Kicks, our mission is to provide young Pakistanis with real international streetwear and sneaker brands at competitive costs, allowing them to express themselves via fashion. The CEO of Swag Kicks, Khan, said in a statement that the company has a carefully curated assortment of more than 50 shoe brands, including those that are not widely available in Pakistan, including Solomon and Doc Martens.
Misbah Naqvi, co-founder and general partner of i2i Ventures, stated that although Pakistan has a sizable market for used apparel, the supply is incredibly disjointed. The complex back end that the Swag Kicks team has created, which includes an internal warehouse SaaS solution with enormous potential, allows them to operate at scale. We feel honoured to support them and stand up for them.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
[/vc_column_text][/vc_column][/vc_row]
