Tuesday, June 18, 2024
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HomeNEWSIndustry NewsSwag Kicks, second-hand online clothing platform raises $1.2m to further tap Gen...

Swag Kicks, second-hand online clothing platform raises $1.2m to further tap Gen Z

As Pakistanis struggles with decades-high inflation, ‘Swag Kicks’ provides second-hand clothes at affordable rates. Import of second-hand clothing is on the rise globally as consumer preferences shift toward circular fashion.

Swag Kicks is capitalizing on this growing trend, targeting young Pakistanis who want to dress fashionably but do not have access to or cannot afford global brands.

Founded by Mateen AnsariNofal Khan, and Hamza Sheikh in 2018, Swag Kicks lists pre-washed and pre-disinfected authentic secondhand clothing.

Based in Karachi, the re-commerce startup has raised US$1.2 million in its seed funding round led by i2i Ventures, with participation from Techstars Toronto, CrossFund Hong Kong, Rose Lake Ventures, i5 Capital, and STAK Group. The firm last received US$150,000 in funding from SOSV.

Swag Kicks said it has served over 100,000 customers and has 25,000 items listed on its platform.

“The secondhand clothing market in Pakistan is large, but the supply side is very fragmented. The Swag Kicks team is able to operate at scale because of the elaborate back end they’ve built, including an in-house warehouse SaaS product that has tremendous potential,” Misbah Naqvi, co-founder and general partner at i2i Ventures, said in a statement.

Swag Kicks added that it wants grow beyond Pakistan, tapping into the global direct-to-consumer and B2B thrift and vintage circular fashion business.

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