Qaleen raises angel investment to launch Pakistan’s first international luxury marketplace

As a growing frontier market and one of the most populous countries on the planet, Pakistan has a fast maturing interior decor market in the region. Although the demand had been non-existent inside the country in the past, Pakistan had been exporting luxury goods manufactured in the country for many decades. One such product is handmade carpets that is exported all over the world and once had 6th biggest share in the GDP in terms of revenue.

The US luxury carpets market alone, which has 45% share of the global market, was expected to surpass the $14 billion mark in the year 2019. But that’s not all; the demand inside Pakistan has been growing recently with millions of housing units planned by the federal government in the coming years, two new mega cities planned and incentives given to the construction industry. With such initiatives, Pakistan is expected to become a consumer market for its own handmade carpets and might consume a significant share of its own production in the future.

Qaleen caters to Pakistan’s handmade carpets industry providing an opportunity for carpet weavers, manufacturers and exporters to sell internationally on its platform. The country has a long history of making handmade carpets since the time of the Mughal Empire when Lahore was a popular center of carpet weaving in the region.

A decade ago, Pakistan was exporting around USD 300 million worth of handmade carpets internationally every year making it the 6th biggest export of the country. Over the last decade and half, Pakistan’s once mighty handmade carpets export industry has shrunk 70% in size and revenue due to unfavorable circumstances and government’s negligence.

FOUNDER

Qaleen focuses on the hand-knotted carpets and is the brainchild of Yasir Hussain Sheikh. Yasir has 16 years of experience in e-commerce export from Pakistan to all global destinations and is the youngest member of carpet association of Pakistan (PCMEA), assisting in modernizing the industry. He has been part of projects in Africa, Turkey and US and utilizes his own background in computer programming, GIS and data analytics. Yasir believes that the industry can be turned around if the default modus operandi is shifted from traditional wholesale export to more modern technology and value addition based model.

Within the first year of launching Qaleen, the company has secured angel investment from various angels from its network. Qaleen also eyes growth in the Pakistani market which is expected to become a sizeable market for interior design and luxury products. Yasir is optimistic about the growth of interior decor market in Pakistan in the coming years as luxury retail is flourishing in Pakistan.

MARKET

Qaleen is the biggest platform of its kind originating from Asia; it currently has around 40 carpet manufacturing companies on board and carries a staggering number of over 15,000 handmade carpets on its platform. Qaleen has raised angel investment to build its e-commerce platform to compete with major US and European e-commerce players in the international luxury market. This will help the country not only claw back its share in the international luxury carpets market, but will also contribute handsomely to the country's much needed export growth in the coming years. And the rapid urbanization in Pakistan has been creating a demand for interior products.

Anyone in Pakistan can now buy a handmade carpet while sitting in their home. Because now the customer doesn't have to be an expert in buying handmade carpets, as the team at Qaleen guides you throughout to make an informed choice. While mostly featuring products woven in different parts of Pakistan, the platform also offers products from Iran, India, Nepal, and Afghanistan. This way the platform ensures that each of its customers indulges in possessing a luxury handmade carpets for their interior needs.

Press Release