Usman Saleem

co-founder and CEO of Khazanay

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Usman Saleem is the co-founder and CEO of Khazanay, a used sneaker and thrift brand in Pakistan. Born in Karachi, he worked as a freelance graphic designer from 2006 and completed an MBA. Saleem has said that Khazanay has sold over a million pairs of shoes since it started and has a team of more than 130 people.

Early life and background

Saleem was born in Karachi. His father ran an advertising agency that served pharmaceutical companies. His father died when Saleem was 14 and in class 8. Saleem has said that they had no wealth and lived in a rented apartment. He has also said that he had been a buyer of Lunda, a term for second-hand goods, since an early age. [1]

Education

Saleem studied at a school in Karachi. He started doing ACCA. He has also said that he used to go to a library and passed all his papers through self-study. [1]

Saleem applied for an MBA at a university in Karachi, where he received a loan that he described as financial aid. He has said that he did his MBA to move his career from accounting and finance into marketing. He completed the degree and then looked for a job. [1]

Early career

Saleem worked as a freelance graphic designer from 2006. He worked graphic design jobs that paid ₨8,000 a month. He designed the magazine of his own school and earned about 3 lakh rupees a year from such projects. [1]

Saleem joined Ernst & Young, an audit firm, as a trainee. After a year, he realised that the career was not for him. He has said that he had always looked at things through a graphic design and creative mindset, which was also his background. [1]

Saleem has said that no one would offer him a marketing job at that stage. He has said that he found that the chicken feet trade involved a whole cartel, and that getting the feet from poultry sellers and refrigerating them was a very big challenge. He launched a tissue brand. After the chicken feet idea, he came up with the idea of doing Islamic finance online and selling it online. [1]

Khazanay

Saleem has said that in 2015 e-commerce was new and heading toward a boom in Pakistan, and that he decided to experiment in e-commerce. He has said that the online experiment succeeded. At the start he bought used shoes at random for about 3 to 3.5 lakh rupees. He learned that the washing of the shoes could be outsourced, with someone washing them for 20 rupees. He took the photos himself, washed the shoes himself and made the Excel entries himself. [1]

Saleem has said that sales came through ads, starting with the first sale. He has said that he and his team were incubated at IBA for two years and expanded from there. The incubator took on an Islamic insurance idea, and during that time the Khazanay idea came and led to a pivot. He has said that there were no overheads at the start because internet was provided free and basic office space was provided. [1]

Saleem has said that his brother is a partner in Khazanay. He has said that his brother provided the initial funding of about 3 to 3.5 lakh rupees. [1]

Y Combinator

Saleem has said that Y Combinator appreciated their idea and invited them to California. His visa came late, so he could not go. He has said that two others had received their visas and met Sam Altman, while his own visa had not come and he was on Skype. [1]

Business model and sourcing

Saleem has said that there was no rule book and no benchmark, not only in Pakistan but across the world. He has said that to become a billion-dollar business, one would have to buy a million dollars of inventory. He has said that their criteria were branded, original products, and that 99% of Pakistan did not meet that criteria. He has said that they went back to their original model. [1]

Saleem has said that they now import their own stock and no longer buy it from the local market. He has said that Khazanay's sourcing comes from the United States. He has said that when he went to the US he saw a couple of big, good store chains, Ross, Marshalls and Burlington. He has said that they separate B grade and C grade items and sell them in the local market. He has said that it takes about three months for a container to be ready. [1]

Saleem has said that sports shoes are the most expensive used item, and that their supply is limited. He has said that they also ordered random stock, and that mixed containers also arrive. He has said that they also sold used belts, used books, used men's shirts and used toys along with shoes. He has said that sourcing was a challenge for every category and that each category had its own refurbishing process. He has said that they discontinued clothing at that time. [1]

Scale and expansion

Saleem has said that Khazanay has sold over a million pairs of shoes since it started. He has said that Khazanay processes around 10,000 orders a month and has a team of more than 130 people. He has said that Khazanay has four outlets. [1]

Khazanay's first outlet opened in Zamzama, Karachi, in 2022. The second outlet opened in Lahore near MM Alam Road in 2024. The third outlet opened in Islamabad's I-9 area in May 2025. The fourth outlet is in DHA, Karachi. Saleem has said that bigger outlets let Khazanay stock more, which gives customers more variety. [1]

Saleem has said that Khazanay built a franchise structure, but that supply to franchisees was a challenge. He has said that Khazanay plans to enter clothing, probably in 2026. He has said that Khazanay approached brands for their leftover stock, but they were not willing to give it. He has said that Khazanay tried this before and thought it was not the right time. He has also said that Khazanay has looked at expansion outside Pakistan to hedge risk. [1]

Funding and approach

Saleem has said that Khazanay was bootstrapped, with profit rather than sales as the main goal. He has said that the aim was to make a profit and run the household. He has said that there was never an intention to sell the business and pass it on to someone else. [1]

Khazanay raises funds from friends and family on a murabaha model with a committed return. Saleem described local debt as not that expensive. He has said that there is no need for investment now. He has said that an IPO is shelved for now, though Khazanay would go that way if it lists. [1]

Views

Saleem has said that Pakistan is not a business-friendly country. He has said that he does not see Pakistan's problems improving in the future. He has said that Pakistan is a very large market for business once basic infrastructure is provided. He has said that Pakistan's fast fashion culture has not arrived in that form yet. [1]

Saleem has said that his vision and mission change almost every year. He describes himself as a self-made man. [1]

Timeline

2006
Worked as a freelance graphic designer.[1]
2015
Decided to experiment in e-commerce in Pakistan.[1]
2022
Khazanay opened its first outlet in Zamzama, Karachi.[1]
2024
Khazanay opened its second outlet in Lahore near MM Alam Road.[1]
2025
Khazanay opened its third outlet in Islamabad's I-9 area in May.[1]

Appearances

DateTitleWhere
2025-11-14 Khazanay sold a million used sneakers on the model Y Combinator told it to drop Thought Behind Things

Frequently asked questions

Who is Usman Saleem?

Usman Saleem is the co-founder and CEO of Khazanay, a used sneaker and thrift brand in Pakistan. He was born in Karachi and worked as a freelance graphic designer from 2006.[1]

What does Usman Saleem do?

Usman Saleem is the co-founder and CEO of Khazanay, a used sneaker and thrift brand in Pakistan. Saleem has said that Khazanay processes around 10,000 orders a month and has four outlets.[1]

Where is Usman Saleem from?

Usman Saleem was born in Karachi. The brand he co-founded, Khazanay, operates in Pakistan, with outlets in Karachi, Lahore and Islamabad.[1]

Where did Usman Saleem study?

Usman Saleem studied at a school in Karachi. He started doing ACCA and applied for an MBA at a university in Karachi, which he completed.[1]

What company did Usman Saleem found?

Usman Saleem is a co-founder of Khazanay, a used sneaker and thrift brand in Pakistan. Saleem has said that Khazanay has sold over a million pairs of shoes since it started and has a team of more than 130 people.[1]

What is Usman Saleem's connection to Y Combinator?

Usman Saleem has said that Y Combinator appreciated their idea and invited them to California. His visa came late, so he could not go. He has said that two others received their visas and met Sam Altman, while he was on Skype.[1]

How many outlets does Khazanay have, according to Usman Saleem?

Usman Saleem has said that Khazanay has four outlets. The first opened in Zamzama, Karachi, in 2022, and the second in Lahore in 2024. The third opened in Islamabad's I-9 area in May 2025, and the fourth is in DHA, Karachi.[1]

References

  1. Khazanay sold a million used sneakers on the model Y Combinator told it to drop . Thought Behind Things , 2025-11-14.
Show the source passages (80 statements)
  1. Usman Saleem is Co-Founder and CEO of Khazanay, a used sneaker and thrift brand in Pakistan. Usman Saleem, Co-Founder & CEO of Khazanay, Pakistan’s biggest used sneaker and thrift brand.
  2. Usman Saleem worked graphic design jobs that paid ₨8,000 a month. working graphic design jobs for just ₨8,000 a month
  3. Usman Saleem was born in Karachi. I was born in Karachi.
  4. Usman Saleem's father died when Usman was 14 and in class 8. I was in class 8, I was 14 years old, my father passed away.
  5. Usman Saleem said they had no wealth and lived in a rented apartment. No wealth, nothing. Rent ke apartment mein reh rahe the.
  6. Usman Saleem's father ran an advertising agency that served pharmaceutical companies. My father used to run an advertising agency aur wo bhi bahut hi ek niche ko serve kar rahe the, pharmaceutical industries.
  7. Usman Saleem studied at a school in Karachi. I studied from St. Michael's Convent School, Karachi mein ek hai.
  8. Usman Saleem designed the magazine of his own school and earned about 3 lakh rupees a year from such projects. Main apne school ka hi ek jo hai na wo magazine design karta tha. Aur usse mujhe us time pe aa jaate the, takreeban pure project ke, I think, 3 lakh rupaye pure saal ke.
  9. Usman Saleem worked as a freelance graphic designer from 2006. Freelance graphic designer back in 2006.
  10. Usman Saleem started doing ACCA. I started doing ACCA.
  11. Usman Saleem said he used to go to a library and passed all his papers through self-study. I used to go to this library, Defence Central Library, yahan pe ek thi, DCL. To udhar jaake saare papers khud alhamdulillah self-study karke nikale
  12. Usman Saleem joined Ernst & Young, an audit firm, as a trainee. wo usko audit firm mein mujhe job mil gayi thi, Ernst & Young. To wahan pe as a trainee join kar liya tha.
  13. After a year, Usman Saleem realised that the career was not for him. Saal baad hi jo tha wo realize kiya yaar ke ye career mere liye jo hai na ye nahi hai.
  14. Usman Saleem said he had always looked at things through a graphic design and creative mindset, which was also his background. Kyunki main graphic designing and creative aur us mindset se hamesha main cheezon ko dekhta tha aur thoda background bhi wahi tha.
  15. Usman Saleem applied for an MBA at a university in Karachi. To MBA ke liye apply kiya, KSBL, ek university hai, Karachi School for Business and Leadership.
  16. Usman Saleem received a loan, which he described as financial aid, at that university. Wahan pe unhone loan de diya mujhe, like financial aid mujhe mil gayi thi.
  17. Usman Saleem completed his MBA and then looked for a job. Jab MBA complete kar liya, jab job ki talash mein nikla
  18. He did his MBA to move his career from accounting and finance into marketing. MBA kara hi isliye tha ke taake I could, you know, shift my career from accounting and finance to marketing.
  19. Usman Saleem said no one would offer him a marketing job at that stage. To koi job hi nahi de raha tha marketing ke andar.
  20. Usman Saleem said he found that the chicken feet trade involved a whole cartel, and that getting the feet from poultry sellers and refrigerating them was a very big challenge. wo phir pata chala nahi bhai ismein to puri cartel hai aur wo murghi walon se wo panje milna aur usko refrigerate karna wo ek bahut bada challenge hai.
  21. Usman Saleem launched a tissue brand. maine tissues ka brand bhi launch kiya tha, Life Tissues ke naam se
  22. After the chicken feet idea, Usman Saleem came up with the idea of doing Islamic finance online and selling it online. iske baad phir Islamic Finance Online karne ka idea aaya yaar ke ye isko hum online sell karenge
  23. Usman Saleem had been a buyer of Lunda, or second-hand goods, since an early age. I had been a consumer of Lunda, theek hai, since an early age.
  24. Usman Saleem said that in 2015 e-commerce was new and heading toward a boom in Pakistan, and he decided to experiment in e-commerce. ki yaar ki achha e-commerce, 2015 tha, e-commerce us waqt naya naya Pakistan ke andar boom ki taraf ja raha tha.
  25. Usman Saleem said the online experiment succeeded. Toh e-commerce ke andar experiment karne ka socha aur woh kara aur Alhamdulillah woh kamyab ho gaya.
  26. Usman Saleem bought used shoes at random for about 3 to 3.5 lakh rupees at the start. Toh us waqt jo tha woh 3, 3.5 lakh rupaye the, jaake woh joote randomly khareede
  27. Usman Saleem learned that the washing of the shoes could be outsourced, with someone washing them for 20 rupees. Phir jaake pata chala achha iski alag se outsource karke 20 rupaye mein banda aapko dho ke bhi de deta hai.
  28. Usman Saleem took the photos himself, washed the shoes himself and made the Excel entries himself. Aur woh tasveerein bhi khud lein, joote bhi khud dhoye, Excel pe entry-an bhi khud ki
  29. Usman Saleem said that sales came through ads, starting with the first sale. Toh ads ke through hi basically aapka pehla bika aur aage saare bika.
  30. Usman Saleem said that he and his team were incubated at IBA for two years and expanded from there. IBA mein we were incubated for 2 years aur wahin se bhi expanded.
  31. The incubator took on an Islamic insurance idea, and during that time the Khazanay idea came and led to a pivot. Uska naam tha chhatri.pk. Theek hai, chhatri.pk Islamic insurance. Uske liye unhone incubate kiya tha, but uske dauran hi khazane ka idea aaya toh woh pivot aa gaya.
  32. Usman Saleem said there were no overheads at the start because internet was provided free and basic office space was provided. Uh, overheads nahi the shuru ke for, you know, for matlab internet mila hua tha muft mein, theek hai, jo basic aapko office space mili hui thi.
  33. Usman Saleem said there was no rule book and no benchmark, not only in Pakistan but across the world. There was no rule book. There was no benchmark, not only in Pakistan, matlab puri duniya mein
  34. Usman Saleem said Y Combinator appreciated their idea and invited them to California. tabhi humein Y Combinator jo Silicon Valley and California, unhone idea ko appreciate karke humein wahan bulaya
  35. Usman Saleem said his visa came late and so he could not go. Khair, mera visa unfortunately late laga tha, toh main nahi ja saka.
  36. Usman Saleem said two others had received their visas and met Sam Altman, while his own visa had not come and he was on Skype. But they both got the visa, theek hai, but uh mera nahi aaya tha toh I was on Skype, but yes, they met Sam Altman.
  37. Usman Saleem said his brother is a partner in Khazanay. My brother is also a, you know, a partner in Khazane.
  38. Usman Saleem said his brother provided the initial funding of about 3 to 3.5 lakh rupees. kyunki initial jo funding jo 3 lakh, 3.5 lakh ko bata raha hoon, bhai ne diye the.
  39. Usman Saleem said that after the first interview they loved the idea and called them for a second interview. Um, pehla interview hua, they loved the idea, but then second interview ke liye bulaya.
  40. Usman Saleem said that to become a billion-dollar business one would have to buy a million dollars of inventory. aapko agar billion dollar banna hai, toh aapko million dollar ki inventory khareedni padegi.
  41. Usman Saleem said that in such a model your own money is not tied up in the middle and you keep a commission, as Daraz does. Theek hai, aur aapke paise beech mein na lagein. Aap apni commission rakh lein, jaise Daraz basically kar raha hai.
  42. Usman Saleem said their criteria was branded, original products, and that 99% of Pakistan did not meet that criteria. Toh uske andar jo hamara criteria tha ki yaar humein yeh branded products chahiye, original hona chahiye, toh woh us criteria pe jo tha woh 99% Pakistan utarta hi nahi tha.
  43. Usman Saleem said they went back to their original model. Wapas se humne apne original model pe chale gaye.
  44. Usman Saleem said they now import their own stock and no longer buy it from the local market. ab toh Alhamdulillah hum apni import khud karte hain, ab woh local market se nahi khareed hote.
  45. Usman Saleem said they separate B grade and C grade items and sell them in the local market. hum B grade, C grade ko alag karke hum usko local market mein sell kar dete hain.
  46. Usman Saleem said they also sold used belts, used books, used men's shirts and used toys along with shoes. Jooton ke saath humne used belts bhi bechi, humne used books bhi bechi, used um men's shirts bhi bechi, used toys bhi beche,
  47. Usman Saleem said that sourcing was a challenge for every category and that each category had its own refurbishing process. har category itni zyada iski ek toh sourcing is an is a challenge, not that easy aur phir uska jo pura process of refurbishing, har category ka alag process hai.
  48. Usman Saleem said they discontinued clothing at that time. Toh kapdon ko us waqt humne band humne kapdon ko bhi discontinue kar diya.
  49. Usman Saleem said sports shoes are the most expensive used item, and their supply is limited. Sabse mehngi cheez jo hai sports shoes hai but unfortunately iski supply jo hai na woh itni zyada abundant nahi hai.
  50. Usman Saleem said it takes about three months for a container to be ready. magar woh teen mahine mein jaake container tayar hota hai.
  51. Usman Saleem said they also ordered random stock, and that mixed containers also arrive. Yes, uh random bhi mangwaya. Uh iske andar mix container bhi aate hain
  52. Usman Saleem said that when he went to the US he saw a couple of big, good store chains, Ross, Marshalls and Burlington. jab main US gaya toh wahan pe maine dekha yaar wahan pe ek do bade ache chains hain stores ke, Ross hai, Marshalls hai, Burlington hai.
  53. Usman Saleem said Khazanay's sourcing comes from the United States. sourcing hamari US se hoti hai
  54. Usman Saleem said Khazanay built a franchise structure, but supply to franchisees was a challenge. Uh franchising ke upar humne kaam kiya. Uh poora uska structure khada kiya tha, but ek challenge tha kyunke uh franchise ke andar jo hai woh thoda sa supply ka ek masla hai.
  55. Usman Saleem said Khazanay was bootstrapped, with profit rather than sales as the main goal. it was a bootstrapped model and profit was the main objective, not the sales.
  56. Usman Saleem said there was never an intention to sell the business and pass it on to someone else. na kabhi intention thi, na kabhi isko bechne ka tha ke yaar yeh aage kisi aur ko pass on kar denge.
  57. Usman Saleem said there is no need for investment now. ab toh alhamdulillah investment ki zaroorat nahi hai.
  58. Usman Saleem said the aim was to make a profit and run the household. Profit nikalna tha, ghar chalana tha
  59. Khazanay raises funds from friends and family on a murabaha model with a committed return. woh friends and family se hum jo hai na unko ek uh return unko muraba model pe hum commit karte hain
  60. Usman Saleem described local debt as not that expensive. Local debt which is not that expensive, theek hai?
  61. Usman Saleem said an IPO is shelved for now, though Khazanay would go that way if it lists. It's shelved at the moment. But yes, agar karenge toh IPO ki taraf jayenge.
  62. Usman Saleem said Pakistan is not a business-friendly country. Pakistan I would say is not a business friendly uh country.
  63. Usman Saleem said he does not see Pakistan's problems improving in the future. there are a lot of a lot of problems and I don't see improvements in future.
  64. Usman Saleem said Pakistan is a very large market for business once basic infrastructure is provided. agar sahi se provide ho jaye jo basic infrastructure chahiye hota hai ek business ko flourish karne ke liye to yes Pakistan ki market Pakistan ke bahut badi market hai.
  65. Usman Saleem said Khazanay has also looked at expansion outside Pakistan to hedge risk. alternate jo hai wo hum expansion out of Pakistan bhi dekh rahe hote hain to be honest. Theek hai ke apne risk ko hedge karne ke liye.
  66. Usman Saleem said Khazanay plans to enter clothing, probably in 2026. And yes, uh we plan on coming into clothing as well. Toh probably 2026, next year uh you will see
  67. Usman Saleem said Khazanay has sold over a million pairs of shoes since it started. we have sold over a million pairs of shoes since the inception.
  68. Usman Saleem said Khazanay processes around 10,000 orders a month. monthly jo hai we process around um acha around um 10,000 plus orders.
  69. Usman Saleem said Khazanay has a team of more than 130 people. We are a team of um 130 plus people.
  70. Usman Saleem said Khazanay has four outlets. Toh char char outlets ho gayi hain, Alhamdulillah.
  71. Khazanay's first outlet opened in Zamzama, Karachi, in 2022. pehli kholi thi 2022 mein, Karachi mein kholi thi Zamzama pe.
  72. The second outlet opened in Lahore near MM Alam Road in 2024. dusri kholi 2024 mein, Lahore, near MM Alam Road.
  73. The third outlet opened in Islamabad's I-9 area in May 2025. teesri aur chauthi isi saal 2025 mein kholi hai, May aur June mein. May mein kholi thi Islamabad mein, I-9 ke andar.
  74. The fourth outlet is in DHA, Karachi. chauthi jo kholi hai woh bhi Karachi mein DHA mein hi kholi hai, Khayaban-e-Pader pe.
  75. Usman Saleem said bigger outlets let Khazanay stock more, which gives customers more variety. jitna bada outlet hoga, utna zyada stock karunga, utna zyada customer ko variety milegi.
  76. Usman Saleem said Pakistan's fast fashion culture has not arrived in that form yet. Pakistan ke andar woh fast fashion wala culture abhi us tarike se aaya nahi hai
  77. Usman Saleem said Khazanay approached brands for their leftover stock, but they were not willing to give it. humne approach kiya brands ko but they were not willing to give us their leftover.
  78. Usman Saleem said Khazanay tried this before and thought it was not the right time. Khazane tried this before. I think it wasn't the right time.
  79. Usman Saleem said his vision and mission change almost every year. Toh uh jo vision mission jo tha woh toh har saal change hota hai.
  80. Usman Saleem describes himself as a self-made man. jaise main alhamdulillah ek self-made, he also, you know, was a self-made, is a self-made man