FashionValet, Malaysia’s first online fashion store, aims to penetrate the West Asian market as it sees high market and consumer demand coming from the region.
Its founder, Vivy Yusof said apart from Malaysia, the high demand from West Asia was also due to FashionValet’s product and fashion offerings that suit the local community’s taste.
She said the company already established existing customers and plans to penetrate the business into West Asia to serve its loyal consumers.
“As the growing e-commerce operators, business models need to change to remain relevant and viable.
“So, the choice to penetrate the West Asian market is one of the plans for the growth for FashionValet in continuing to provide value our customers,” she said when met after a discussion session titled ‘Driving High Impact Entrepreneurs’ in conjunction with the 10th CIMB Malaysia Corporate Day 2018 organised by CIMB Group Bhd here yesterday.
Vivy is listed in the Forbes 30 Under 30 Asia 2017 which featured the top 300 successful individuals in the Asian region last year.
Apart from online sales, FashionValet also has a physical boutique in Bangsar Village and Pavilion Shopping Mall in Kuala Lumpur, a move which is considered the best way to extend product ofering to shoppers who are not shopping online.
Vivy said although the platform was originally online, it was intended to strengthen the presence of the brand on both online platform and physical boutiques.
“In 2018, we also aim to open about two or three physical boutiques at several locations in the country to support the e-commerce segment as well as FashionValet vendors,” she said.
Commenting on the growth of the platform, Vivy said since the setting up of FashionValet in 2010, the company recorded a positive business growth of between 90 and 100 percent year to year.
“Looking at the trend of e-commerce business, it is expected that this year will be more exciting after a challenging 2017.
“This is because last year, too many new e-commerce stores and fashion brands have emerged. This has created a stiff and competitive environment,” she said.