Swag Kicks, an online platform that sells used clothing, footwear, and accessories from renowned global brands, has raised $1.2 million in seed funding to expand its footprint in Pakistan’s thrift and vintage e-commerce, the company announced on Thursday.
The funding round was led by i2i ventures, the company said, adding that prominent venture capital firms such as Techstars Toronto, CrossFund Hong Kong, Rose Lake Ventures, Elevation Ventures, STAK group, and angel investors also participated.
The “sustainable fashion” company, co-founded by Nofal Khan, Mateen Ansari, and Hamza Abid, sources used clothing and footwear from around the world, and washes and disinfects it, before listing it online.
The startup says it has listed over 25,000 items on its platform, including shoes, apparel, bags, and accessories, and has served over 100,000 customers so far.
The company estimates the global second-hand marketplace to grow 127 percent to $218 billion by 2026 as rising inflation and shrinking purchasing power result in increasing consumer interest.
“We, at Swag Kicks, aim to give young Pakistanis a means of expression via fashion by furnishing them with authentic global sneaker and streetwear brands at affordable prices. Swag Kicks has a curated collection of 50+ sneaker brands, including brands like Solomon and Doc Martens, which are not readily available in Pakistan,” Khan, who is Swag Kicks’ CEO, said in a statement.
i2i Ventures Co-founder and General Partner Misbah Naqvi said, “The second-hand clothing market in Pakistan is large, but the supply side is very fragmented. The Swag Kicks team can operate at scale because of the elaborate back end they’ve built, including an in-house warehouse SaaS product that has tremendous potential. “We’re honored to back them and be in their corner.”
