by ANIS HAZIM & AZALEA AZUAR / pic BERNAMA
FASHIONVALET’S (FV) aims to expand its in-house brands, dUCk and LILIT has been set since two years ago, says its co-founder and CEO Datuk Fadzaruddin Shah Anuar.
“This decision to pivot our business to focus more on our house brands was actually done in 2019 as we saw a trend of businesses expanding their own channels to sell direct to consumers which is great for the booming local fashion industry,” Fadzaruddin told The Malaysian Reserve (TMR).
Recently, FV announced its closure after 12 years of operating in the local fashion scene to introduce a new shopping experience for its customer.
Fadzaruddin said the Covid-19 pandemic has accelerated the change just as many local brands were forced to scale down their business which FV was dependent on.
“We had to quickly adapt by focusing on dUCk and LILIT, and this helped us survive these past two years,” he said.
According to him, FV stores have closed since 2020, while the group introduced dUCk and LILIT stores to reflect its focus which is now located in the Klang Valley and Singapore.
To note, FV has had several physical stores previously with two in Malaysia (Pavilion Kuala Lumpur and Bangsar Village II), one in Singapore and one in a pop-up store in Brunei.
Meanwhile, dUCK and LILIT have several physical stores in the Klang Valley and Singapore.
Despite the closure, FV said it has not retrenched any of its staff over the last three years and the team is reorganised to address FV’s new focus and offers additional career paths and opportunities.
“The strategy is now to grow dUCk and LILIT individually under the FV — dUCk as a premium modest fashion leader and LILIT as the go-to for affordable modest fashion staples,” he added.
Fadzaruddin highlighted that both of its in-house brands have shown positive growth over the past few years even during the pandemic.
“Insya-Allah (God willing) the business will continue to grow, but we are also very conscious of the rise in prices across the board and are trying our best to minimise that impact on our customers,” he further said.
Meanwhile, Archi Luxury Group PR and marketing executive Nellisa Affandi view FV’s move to close down its business and focus on dUCk and LILIT was an impactful strategy as they found their niche as a modest fashion hub.
“Having two house brands — dUCk and LILIT which did extremely well with the assortment of its merchandise and store expansions globally put the odds in their favour.
“Would this mean the group is scaling up? Yes, it is. In return, I foresee many local talents grasping at the opportunity to be part of the team and making a name for themselves in the industry too,” Nellisa told TMR.