Ahmed Mukhtar Naqshbandi
ISLAMABAD: Swag Kicks, which calls itself a sustainable fashion platform for Millennials and Gen-Z Pakistanis, announced Thursday that it has closed a seed round of 1.2 million dollars led by i2i Ventures.
The company said in a statement that international venture capital firms Rose Lake Ventures, i5 Capital, Techstars Toronto, CrossFund HongKong, STAK group and other also invested in the seed round.
Swag Kicks, which offers secondhand fashion items on its digital platform, aims to “dominate” the growing pre-loved market.
Swag Kicks CEO Nofal Khan said his company “bridges the gap” for customers seeking branded products by sourcing global fashion products from across the world and offering them in Pakistan.
He said that the concept of using secondhand items is also not new in Pakistan and has been prevalent in the country for decades. Pakistan is among one of the largest importers of used clothes and in July to August 2021 alone, it imported 186,299 metric tons of secondhand clothing, registering a growth of over 283 percent as compared to the same period in the previous year.
Fashion brand offers more variety
However, Swag Kicks offers more variety, more than 25,000 listed items, and high-standard products than what is available at a random pre-loved market in the country, the CEO added.
