by ANIS HAZIM / pic by Bernama 

FASHIONVALET (FV) said it will be closing its business after 12 years of operation in the local fashion scene.

The e-commerce platform announced the closure of its website last week.

It however hints a preparation to introduce a new concept for the brand.

“Dear FV family, as they say, all good things must come to an end and be replaced with something better.

“With that, we are thrilled to share with you a brand-new shopping experience where you will be inspired and get rewarded — all personalised, for you,” it said.

FV highlighted that they are shifting its business direction to focus on both of its own in-house brands, dUCk and LILIT.

It noted that all registered customers on the FV website can use their existing accounts to access and shop on the dUCk and LILIT websites.

Apart from its omnichannel platform, FV has gone offline with several physical stores, with two in Malaysia located in (Pavilion Kuala Lumpur and Bangsar Village II), one in Singapore and a pop-up store in Brunei.

For its own in-house brands, dUCK and LILIT have several physical stores in the Klang Valley and Singapore.

To note, FV was established following its success in securing a few series of capital ventures namely, Elixir Capital USA, Japan’s Zozo and Khazanah Nasional Bhd amounting to US$6.4 million (approximately RM28.51 million).

The Malaysian Reserve has reached out to FV for more details on the closure and its rebrand plans but no comment is available at press time.