Swap vs Costco
Side-by-side comparison of AI visibility scores, market position, and capabilities
London D2C e-commerce OS (founded 2022); $40M ICONIQ Growth Series B (March 2025) after 7x revenue growth with Importer of Record model serving 500+ fashion brands ($20M-$100M) competing with Global-e for cross-border operations.
About
Swap is a London, United Kingdom-based e-commerce operating system for direct-to-consumer brands — backed with approximately $49 million in total funding including a $40 million Series B in March 2025 led by ICONIQ Growth with Cherry Ventures, QED Investors, and 9900 Capital — providing a unified platform for cross-border logistics, inventory management, and international operations that reduces operational costs by up to 30% and improves revenue by 8% for 500+ fashion, eyewear, and lifestyle brands. Founded in 2022 by CEO Sam Atkinson and CPO Zach Bailet (whose direct experience running a cross-border e-commerce business sourcing from Africa informed the platform's design), Swap achieved 7x revenue growth between March 2024 and March 2025. Brands including 3.1 Phillip Lim, Sandy Liang, Ed Hardy, Pangaia, The Frankie Shop, and Odd Muse (typically $20M-$100M annual sales) rely on Swap for Importer of Record services, delivered duty paid (DDP) shipping, automated tax remittance, and express customs clearance across 190+ countries. Swap Inventory (AI-powered demand forecasting and smart restocking) launched in 2025 alongside expansion to Australia and Canada.
NASDAQ: COST warehouse club at $249.6B FY2024 revenue with 73.4M cardholders and $50B+ Kirkland Signature; 90%+ renewal rate with $65/$130 membership fee competing with Sam's Club for warehouse retail.
About
Costco Wholesale Corporation is an Issaquah, Washington-based membership warehouse club — listed on NASDAQ (NASDAQ: COST) — operating 897 warehouse locations globally (as of mid-2025) across the United States, Canada, United Kingdom, Japan, Korea, Australia, Spain, France, China, and Iceland, providing paid members (73.4 million cardholders representing 136.8 million authorized users as of fiscal year end 2024) with bulk merchandise, groceries, electronics, appliances, tires, optical services, pharmacy, and the Kirkland Signature private label brand at prices consistently below traditional retail channels. Costco generated $249.6 billion in total revenue in fiscal year 2024 (ended September 2024, +5% year-over-year), with membership fee revenue of $4.83 billion providing the financial foundation that enables Costco's famously low product margins.
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