Swag Kicks Clothing Startup Raises $1.2 Million Seed Funding
Swag Kicks is a second-hand online clothing marketplace located in Karachi. $1.2 million has been raised by the company in the round of seed funding which was instructed by the local angel investors.
According to the Swag Kicks website, it is the go-to sustainable fashion platform for Pakistani generation Z and millennials. Swag Kicks has served over 100,000 clients and the listed items on the website are over 25,000 which include clothes, bags, sneakers, and accessories.
Nofal Khan, the co-founder of Swag Kicks said,” The funds would be utilized to build up inventories and stocks, expand market outreach, and introduce innovative technology to manage growing demand.”
Khan said, “We are the first to attract foreign funding, we have digitized Lunda (second-hand clothing) in Pakistan and selling used clothing and streetwear called “pre-loved fashion” to customers across Pakistan. We are selling original global big brands at the lowest prices, which otherwise are not accessible for average Pakistanis.”
Khan said, “Our platform serves millennials and Gen-Zs so that they could express themselves through this form of circular fashion amid its growing demand.”
Kalsoom Lakhani, co-founder and general partner at i2i Ventures said, “International funding for startups is definitely still drying up in 2023, which is not helped by Pakistan’s macroeconomic environment.”
Lakhani said, “However, all these problems present enormous opportunities — Swag Kicks and play in the circular fashion space are a great example of this. Thrifting and second-hand clothing become popular choices when consumer spending declines. For us as Pakistan-focused VC funds, it’s about investing in companies that are interesting because of this environment, that reflect changing attitudes.”
Misbah Naqvi Co-founder and general partner at i2i Ventures told Arab News, “The secondhand clothing market in Pakistan is large, but the supply side is very fragmented. The Swag Kicks team can operate at this scale because of the elaborate back end they’ve built, including an in-house warehouse Software as a Service (Saas) product that has tremendous potential.”
Swag Kicks has brought international streetwear and sneakers in Pakistan by citing “pre-loved fashion”. The articles are disinfected and washed before displaying them on the website.