Thrift Souk crosses one million listings as Gulf shoppers embrace resale

Thrift Souk, based in Dubai, is the latest example of how e-commerce in Middle East is maturing. The move puts the company in a strong position in its segment.

Every luxury item passes through an authentication centre in Dubai before shipping, which the company says has kept return rates low.

Why it matters

Investors across Asia have become more selective since 2023, backing companies that can show paying customers and a clear path to profit. Founders in Middle East told ASN that the bar for a new round now includes at least a year of steady revenue growth.

We built for the customer who was already paying, not the one we hoped would show up.

The company said it will use the next year to deepen its existing markets before expanding further.

The numbers

• Market: Middle East
• Headquarters: Dubai
• Sector: E-commerce

What comes next

Competitors are watching closely, and at least two rivals are said to be in talks to raise fresh capital. ASN will keep tracking Thrift Souk and the wider e-commerce market in Middle East.

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