FashionValet founders Datuk Fadza Anuar and Datin Vivy Yusof announced their resignation amid public scrutiny over the company’s financial losses. In an Instagram post, they accepted full responsibility, admitting they expanded the business too aggressively without planning adequately for downturns. Their resignation follows criticism over RM47 million invested by government-linked firms Khazanah Nasional and Permodalan Nasional Berhad. They expressed regret for the financial impact on these entities, partly attributing their struggles to the Covid-19 pandemic. Despite efforts to cut costs and maintain a positive public image, they acknowledged it was time to step away from the company.
FashionValet
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