Le Souk is a sourcing platform showcasing best-in-class suppliers from 19+ countries to buyers 365 days/year. Disrupting the antiquated model of trade shows & agents while servicing a growing global market of makers & creatives, Le Souk redefines how sourcing gets done.
For buyers, our platform offers a seamless Search, Sample & Source solution. We offer a powerful search engine for textiles & leathers - indexing over 30 data points on each material. Our US warehouse maintains samples of every material on the marketplace, providing buyers with efficient access to information. And our sourcing solution facilitates direct ordering & negotiation between buyers & sellers - while offering bulk shipping discounts to buyers.
For suppliers, the Le Souk platform provides an online showroom solution, global sample distribution and new business 365 days/year. Online showrooms highlight suppliers' brands and bring their materials online for the first time - while offering an API to power their own website. Our sample distribution solution provides an streamlined solution for an onerous step in the sales process. And our platform reaches hundreds of thousands of buyers that suppliers are not meeting through trade shows and agents.
After traveling through Central America & Asia to source products for brands like Anthropologie, Levis & Barnes and Noble, Benita saw firsthand the fragmentation of the raw materials sourcing market. Buyers spend an inordinate amount of time on expensive sourcing trips, which often result in discovering only one new supplier. At the same time, many of the suppliers that Benita ultimately did business with did not exhibit at traditional trade shows.
Digging deeper into the market opportunity, Benita studied how online marketplaces like Alibaba successfully brought B2B sourcing online. Her research into the buy-side market revealed that designers spend a significant amount of their time sourcing - rather than designing & selling. And that their primary source of information for materials sourcing online was simply Google.
Upon articulating what a luxury B2B sourcing platform would look like, Benita recruited Martin Smith - directly from HBS after the sale of his latest venture - to join the team as COO and Head of Product. Hossain Khan subsequently joined as CTO, bringing his great technical acumen to the Le Souk team.
Today the Le Souk team is made up of 5 engineers, 2 sales people, 2 account managers and our executive team. Content writers, photographers, sales agents, and SEO/digital marketing consultants round out the team. We bring together tactical sourcing expertise gained from companies like Li & Fung with product & technology know-how.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Le Souk. Once Le Souk accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Le Souk in exchange for your shares. At that point, you will be a proud owner in Le Souk.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please email us at email@example.com. Please include your name, the company's name, the amount, the investment number, and the date your made your investment.
Currently there is no market or liquidity for these shares. Right now Le Souk does not plan to list these shares on a national exchange or another secondary market. At some point Le Souk may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Le Souk either lists their shares on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Le Souk's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Le Souk’s profile.