Female Founded: Yes
Female Founded: Yes
The basic problem that we're solving is that women in Pakistan are spending more than $1,000 on clothing, and 50% of these clothes are rendered absolutely useless, and these women do not know what to do with these clothes. So, we're helping them monetize these unused assets through our platform.
We have a variety of categories, primarily driven towards women. We recently launched our kids line, but we have casual wear for women, particularly accessories, shoes, and party wear. These are our primary categories.
So right now, we're [based] in Pakistan. We are running a pilot in Paris for an idea called upcycling but that's just for data gathering. But primarily as a product, we are functional in Pakistan, we are projecting in the next 18 months to capture 200,000 users in the market. The sum in Pakistan we are targeting is 20.5 million women which makes this an approximately $1 billion market. These women are between the age of 1739, living in urban areas. These are working women, University going women, who are looking to constantly revamp their wardrobes, and also the Instagram generation who cannot be seen in the same dress twice on their feeds. So, that's primarily the Persona that we're targeting in Pakistan.
So our primary business model is we charge a 20% transaction fee from our sellers upon each transaction, and women to date have earned more than $200,000 on our platform. The most exciting part is that 75% of resellers became financially inclusive after joining the platform.
We have 20,000 users on our platform. Last year, we close at a GMV of $120,000 dollars. This year, we're projecting to close at $210,000 GMV but in the next 18 months we’re projecting to take our 20,000 user base to 200,000.
BizB is a recommerce marketplace for the buying and selling of preloved apparel and accessories, helping women earn money, save money and contribute to making fashion sustainable again!
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