Here’s the inside scoop: FashionValet was once the darling of Malaysia’s fashion scene, but it’s now facing a harsh reality—RM127M in debt, a public apology from the founders, and a complete shutdown. While COVID-19 certainly played a part, sources say reckless expansion, mounting loans, and over-reliance on influencer hype were the real issues. Even major state investors pulled out after heavy losses.

So, what’s the verdict here? Was it mismanagement, or did they simply bite off more than they could chew?

Read more: https://www.therakyatpost.com/news/2024/11/15/finance-ministry-outlines-3-reasons-why-fashionvalet-failed/