FashionValet founders step down, accept blame over RM44m loss

FashionValet’s founders stepped down and took full responsibility for the almost RM44 million loss suffered by Khazanah Nasional and Permodalan Nasional Bhd, which invested in the e-commerce platform.

Fashion entrepreneurs Vivy Yusof and her husband Fadzaruddin Shah Anuar apologised over the issue, explaining that they expanded their business too aggressively and did not sufficiently plan for a “rainy day”.