KUALA LUMPUR: FashionValet (FV), one of Southeast Asia’s leading fashion e-commerce platform, will be taking its company to the next level by listing on Bursa Malaysia.
Chief Creative Officer Vivy Yusof said the plan to list was in the pipeline and would take place sometime within the next few years
“As of now, the main priority is to grow our profit and maintain it,” she told Bernama recently.
Following the closing of a Series C investment from sovereign fund Khazanah Nasional Bhd, Vivy said FV is planning for further physical market expansion and wider digital penetration.
FV recently raised an unspecified amount from the fund, which would be used to upgrade its technological infrastructure, open more brick-and-mortar retail locations, and expand the company’s presence in Malaysia and Southeast Asia.
Founded in 2010, the online fashion portal now hosts 500 Southeast Asian designers and catered to customers globally.
It has physical stores in Malaysia (Pavilion and Bangsar Village II), Singapore and Brunei. Digitally, it serves customers in more than 15 countries, including several Middle Eastern countries, the United Kingdom, the United States and Australia.
Vivy’s own personal brand, dUCk, would be absorb under FV for the upcoming listing.
“dUCk is a brand specialising in scarves, stationery, home and living accessories and cosmetics,” she added.
The latest kid on the block, dUCk cosmetic is a halal cosmetics brand that offered the latest in tones and colours for lipsticks, lip gloss and eyeshadow.
dUCK recently opened its third retail outlet in Suria KLCC, next to luxurious international brands such as Gucci, Chanel and Dior.
Moving forward, she said two new dUCk stores would be opened in Singapore and Dubai.
“We need to do more marketing there to showcase our brand, because it is not well known yet. We hope to open our store in Singapore next year and as for Dubai, we are still researching the market,” she said.
Asked on sales expectations for dUCK, Vivy said the company plans to double what they achieved last year, especially with the introduction of new product ranges that were not available last year.
“For our new baby, cosmetics, we are talking with one of the biggest distributor in the world to take it to the next level and so far, the response has been positive. The public will have to wait for the announcement,” she added.