Ever since the Khazanah x PNB investment loss of 43M came to light, netizens have not stopped asking for an explanation of what went wrong with Fashion Valet. Many have demanded that the husband and wife duo/founder of the company step forth and clarify the news to the public.

I thought it was interesting to discover that a lot of people actually do not want FV to succeed. So many people were talking trash about her. In fact, ever since Vivy was portrayed in mass media at least more than a decade ago for her bright idea of championing local designers to Malaysians through an online platform, people were still sceptical of her talent. She had the privilege of using Daddy’s money (which is true) and that somehow placed her in a rank similar to those who are not regarded as true entrepreneurs. For example, celebrity turned businesswoman or brand ambassadors etc. As opposed to those who have trouble securing a grant or a loan to kick-start their business. Even then, I still thought that if someone used Daddy’s Money and lacked entrepreneurial talent, the money would still go down the drain. Instead, Vivy’s business thrived and more people began to appreciate the works of our local designers. We should applaud that.

Even I was influenced to grab something from FV or more precisely dUCK. Too bad, I am not a fan of their collection and just bought a few scarves packaged beautifully in their signature purple boxes. Enough to convince myself that I was once part of the crowd. The interest towards the brand waned off sooner than I thought simply because of the high price tag. Although I could afford it, I did not think that it was worth my hard earned money. And so, FV or dUCK was just a ‘catalogue’ I enjoy browsing from time to time because of it’s aesthetic nature. While it’s visually appealing, it requires considerable contemplation before making a purchase. A RM300 scarf or RM400 tote could get me quality groceries for two weeks.

Over the course of time, it is expected that the designers no longer need FV to grow their brand and presence as digital technology has become more accessible and cost-effective to manage on their own. This was what I grasped from her book, The First Decade. To me, the book did not have a forceful presence like Michelle Obama’s ‘Becoming’ or “My Name Is Hasmah” by Dr Siti Hasmah Mohd Ali. It felt like reading her blog as the tone is perceived as quick-paced. I could actually hear her voice in my head while reading. Even then, it wasn’t a book without substance at all. There were poignant moments that made you understand that running an online business is not as easy as it sounds.

Investments are bound to succeed or incur losses. What angered the public was that the loss was too huge and FV’s apology was deemed childish. What’s more, Vivy parades her luxurious lifestyle which gives an ick to those who have always been against her from Day 1. I honestly feel bad for her because I feel that she is receiving an inappropriate amount of hate simply due to her being already rich (generational wealth) and yet still being able to secure funds from Khazanah x PNB. In other words, using taxpayer’s money. According to the public, it should have been put to better use by these investors to support other promising and viable ventures. Honestly, I am not affluent in the business world. Hence, I trust that Khazanah X PNB would know what they are doing. Still, this issue does give me this unrested feeling that privileged members of society do have it easier sometimes. Thankfully, the investment made by PNB did not come from our ASNB subscription.

Anyway, I look forward to the turnaround of FV in the hands of NXBT Partner as the majority stakeholder of the business. I believe despite the setbacks, the couple will find a way to rise up again. True entrepreneurs always do. Perhaps in the future, the founders can approach matters with enhanced perspectives and establish an online presence that focuses on less contentious issues with other local e-commerce players.