Maroc - THECEKODOK.COM - A La Une - 05/Sep 20:54

Investment Protection Treasures Totaling RM27 Million On FashionValet

Over the past week, many parties have started discussing FashionValet whose majority stake is now taken over by NXBT at a much lower value than the investment value when Khazanah invested. In response to that, now Khazanah maintains an investment amounting to RM27 million by them on FashionValet in 2018.FashionValet in the past few years led the e-commerce arena by being a one-stop center for the purchase of clothes, hijabs and so on. However, his focus shifted to prioritizing his own clothing brand – making other brands no longer sold through the e-commerce platform. Today, FashionValet no longer operates as an e-commerce site that brings together other clothing brands, instead focusing on two wholly owned FashionValet brands, namely Duck and Lilit.Through comments given to BusinessTimes, Khazanah said they as private market investors often invest in various portfolios, and dispose of holdings, based on investment strategies and positions.Previously, Khazanah was seen holding a stake in FashionValet through a wholly owned company Pulau Tiga Ventures. However, the holding appears to have been sold or disposed of. It is not known whether the investment in FashionValet is Khazanah's initial experiment in investing in start-up companies or vice versa, given that they once stated that they would focus more on large-sized investments, and not directly to a start-up company when many asked why Khazanah did not invest in Grab.Anyway, moving forward, now Khazanah has also integrated MAVCAP and Penjana Kapital under them, as well as receiving more expertise in investing in various phases of local and international companies. And as always, all investments have their own risks, whether it is profit or loss, and it is necessary to go through the current evaluation that may be appropriate at a given time.