Challenges And Success Of Vivy Yusof – Malaysian Woman Entrepreneur

The very first challenge that Vivy and her husband had faced when started up Fashion Valet was the lack of capital. Actually, it was not easy to run a business when there so many competitors around them. In fact, they did not take salary until the company became stable. Not only that, there also have a lot of conservative people did not believe that in South East Asia had a huge potential of e-commerce. Every month, they had to spend RM 100k. They had to rent a stock as the office and warehouse were doing renovation or had already rent. So, the rental of stock helped them reduce the load. Then, the rest of RM 100K they spend on marketing even though not much. Even FashionValet became more stable, success and growing well but it still have some negative comments. People always think that FashionValet is “luxurious” and “expensive”. But in fact, FashionValet had cooperated with Malaysian homegrown designers so naturally the price will be higher than other online retail site. It can easily find out when some of their customer shared their ‘ootd’ today with Fashion Valet’s product on their social media apps, there must have someone who will leave the irony comment like “wow you bought from FashionValet?” In Vivy’s opinion, she think that it is a good thing when people come up the idea that their product are expensive. It is because she had found their niche when this kind of comment come out, it clearly had differentiate them with their competitor. They also found out that their targeting customer who is more premium.

However, gold cannot be pure and man cannot be perfect. When they threatened by competition, they want to be better and they started corporate with more designers and come out with more new brands. Obviously, the customers did not accept this kind of changes and gave the feedback that FashionValet became so call “rojak”. The customers feel that these kind of new brands cannot represent FashionValet. It only increase in quantity but does not improve in quality. At that time, even FashionValet had more brands than previous time but these wide range of brands were not cohesive. The worst thing is their sales had dropped. Luckily, they had realized the mistake they had made and have a better cu ration of brands. While the dUCk group suffer the hardship is the reseller who buy the dUCk scarves and resell the scarves in a higher price. In fact, every dUCk scarves collection are limited edition and it only sell at the dUCk store which is located at Pavilion and on FashionValet website. However, it is difficult to identify either the person is customer or reseller as they come and queue from the day before the product launched. To prevent this kind of issue happen, they had set a limit for each customer to purchase. After that, the reseller will sell the RM300 scarves to RM 1500. As a celebrities and also active in every social media, Vivy always can easily get the feedback from the customers. Furthermore, the customers also willing to leave their order ID and their suggestion to the product in the comment area so that Vivy can check one by one and reply them. So, Vivy and FashionValet have a very good relationship between the seller and buyer. It is something unique and different that did not show by their competitors. It also make the customers loyal to purchase in FashionValet and also dUCk.

Last, in Vivy’s opinion, she does not define success. It is because she thinks that if someone defines success and achieved it, he or she will become selfish and complacency. They may hit rock bottom. While Vivy is just do her own thing and once she achieved it then.