FashionValet aims for bigger presence in Brunei
BANDAR SERI BEGAWAN
FASHIONVALET, the Kuala Lumpur-based e-commerce site, is looking to expand its presence in the sultanate by setting up a physical outlet in the capital.
The company’s marketing head, Vee Dee Tan, said they are looking into the local laws and regulations governing foreign investment and e-commerce.
“We have two flagship stores in Malaysia and Singapore which are all in prime areas, so the Brunei store would also be in a prime area,” she said.
[Related story: Exclusive glimpse of Fashion Valet’s 1st pop up store]
But FashionValet’s founder, Vivy Yusof, said finding retail space in Brunei was problematic due to limited space.
“We spoke to some management, but the waiting list is crazy. There are a lot of stores that want to get into malls in Brunei.”
She said Bruneians are savvy online shoppers, so the establishment of a physical store will be dependent on an opportunity arising.
“If a good offer comes, I’m going to grab it. But we’ll have to wait and see. Every day, we’re seeing Bruneian (sales) numbers going up, especially with the Malaysian currency going down.”
FashionValet kicked off a week-long pop-up store at The Empire Hotel and Country Club yesterday ahead of Hari Raya, promoting their most in-demand labels to an eager Bruneian audience.
“This is our first event in Brunei, and we wanted to meet our customers, do some market research, and give them a chance to feel and see the clothes one-on-one,” Vivy said.
In half a day, the event raked in $20,000, with projected sales of $40,000 by the end of business yesterday.
“We brought over 30 brands that, statistically, Bruneians love the most, which include high-priced items because Bruneians have high spending power,” said Tan.
“It’s our first time here, so we didn’t expect this kind of response. It’s amazing and we’re overwhelmed.”
The website carries more than 400 brands from Southeast Asia and has retail stores in Kuala Lumpur and Singapore as well as an office and warehouse in Indonesia.
“The bulk of our clientele is from Malaysia – about 60 per cent. The rest is from Brunei, Singapore, Australia and a bit of the UK and the Middle East,” Tan said.
She said if they set up a physical outlet in Brunei, they will focus on establishing “omnichannels” aimed at making the online-offline shopping experience seamless by storing all purchases in an online transaction history.
“For all our offline stores, we’ll have iPad corners. Our core business is online, so if you can’t find your size here, you can buy it online and we’ll ship it to you in two days’ time.”
The Brunei Times