Company: Known Source
Website: https://knownsource.co.uk
Business: Online marketplace for second hand fashion.
About Henry and Known Source
Known Source is the online marketplace for first class second hand fashion. Their mission is to make second hand the first choice. Henry’s team aims to do this by elevating the experience involved in second hand using our circular, curated model.
Known Source curate a community of top established second hand sellers. Each is a recognised best in the UK vintage scene, bringing their own unique style & stock as well as following to Known Source. They will be the only marketplace to house all sellers in one place, users able to buy with trust direct from Known Source’s established sellers, allowing them to charge 7.5% commission per transaction.
Known Source guarantee to ‘sell on’ any item, purchased from anywhere on Known Source, at any point in the future. They then re-list the item on a separate storefront, and the user is paid upon re-sale. This hassle-free anytime returns policy benefits everyone, by encouraging user retention, and the planet, by promoting responsible consumption. These two USPs are unique, setting Known Source apart from the competitor marketplaces, and providing a necessary solution for the industry.
Henry and his co-founder, Theo El-Kattan started Known Source at the end of 2020. At the time Henry was still studying, in his final year at medical school, and also running his own online second hand clothing store, HMS Vintage.
Henry has been able to work full time at Known Source since June. Since then, the progress has been rapid. Having finalised their branding, UI/UX and initial raise, have just begun build, and are creating their go-to-marketing strategy.
Known Source aims to launch in February 2022, around the time of fashion week. Henry and his team are looking to disrupt the market. Due to their established sellers and social media followings (total combined following = >1 million), Known Source have access to an engaged and pre-existing community.
Each of their sellers will promote Known Source in the run-up-to launch, allowing them to a foster an initial user base, and launch with impact. They are looking to start their pre-seed funding round which will allow them to start making waves in the second hand, and wider fashion, industry.
Henry seeks to be a beacon for what fashion companies should be: profitable, transparent and circular.
