Sunday, 8 May 2016

TASK 1(b) - TRAITS

One of the successful entrepreneur that we choose is Vivy Sofinas Yusof also known as Vivy Yusof is a proud Managing Director of Fashionvalet.com. She builds FashionValet with her husband also a CEO of FashionValet, Fadzaruddin Shah Anuar. She is one excellent example of an entrepreneur who starts her business since she was young. She was studied Bachelor Degree in Law at the London School Economics in United Kingdom.

              When Vivy returned from overseas studies in 2010 and saw lack of online fashion retailers in Malaysia, she saw an opportunity to be filled. With her now-husband Fadzaruddin Shah Anuar, she set up a fashion e-commerce site offering a variety of local brand designers labels. What began as a start-up with a capital RM 100,000 and 10 local brands has grown into a multi-million-dollar ringgit business offering 300 brands from across Southeast Asia. In between, they secured RM1 million in reality TV show MyEG Make The Pitch which provided them with much-needed funds to further their marketing plans and expand their customer base. Like most start-ups, FashionValet’s challenges are ever evolving. In the beginning, it was about getting the word out with very limited typical. They had to apportion their money carefully and did not have a lot to spend on marketing. So, Vivy leveraged on her contacts, working with the bloggers to spread the news.

              Both Vivy and Fadza are not from business background. She had read law while he had studied aeronautical engineering but because of their hardwork, they get to through it smoothly. Vivy gained audience through her websites. She started her blog, proudduck.com which she kept while she still studying. Vivy is overwhelmed by the support and never imagined that her little blog could grow into a business today. FashionValet shoppers know that dUck scarves are constantly sold out. Bags that she had been carrying typically sell within an hour, going to ardent fans who bought them in multiple colours. Vivy successfully keep their loyal audience. She did not do what most blog shops and e-commerce tend to do. FashionValet has ranked in close to RM10 million in revenue this year alone. This year is also FashionValet turn into profitable.


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