Business · Malaysia Bureau
Fashion Valet secures nearly RM40 million investment from Khazanah, PNB
The online fashion platform has received substantial backing from Malaysia's sovereign wealth fund and state pension provider, according to court proceedings. Founders Vivy Yusof and her husband Fadzarudin Shah Anuar each received RM5 million in separate account credits.
LSN Malaysia ·
Fashion Valet has secured nearly RM40 million in investment from Khazanah Nasional and Permodalan Nasional Berhad (PNB), the High Court heard during proceedings on Tuesday. Bank officials testified that the funds were transferred to support the online fashion retailer's expansion and operations.
According to testimony presented in court, RM5 million each was separately credited to accounts held by company founders Vivy Yusof and her husband Fadzarudin Shah Anuar as part of the investment arrangement. The exact allocation and terms of the remaining investment amount were not immediately detailed in the court disclosure.
The investment represents significant backing for Fashion Valet, one of Malaysia's more prominent e-commerce platforms specialising in fashion retail. The involvement of both Khazanah Nasional and PNB, key players in Malaysia's financial ecosystem, underscores confidence in the platform's growth trajectory.
Fashion Valet has expanded rapidly since its inception, building a substantial user base across Malaysia and the broader Southeast Asian region. The latest investment injection is expected to support the company's continued digital commerce expansion and operational scaling.