"To Fail in Such A Public Way"—The Cost of Influence & Billion Dollar Ambitions with Vivy Yusof, FV Group
Social media platforms and creator-focused startups haven’t looked too hot coming into 2023, with companies like Meta, Snapchat waging of layoffs along with the rest of the tech industry. BUT the creator and influencer economy are more than just buzzwords losing interest among venture capitalists. Despite challenges on a platform level, blogger turned entrepreneur Vivy Yusof is a case study of just how retained attention is a currency that will continue to be important in 2023 and beyond.
But of course, the journey is never easy – while Vivy today boasts 1.8 million followers which she attributes to her success in many of her chapters, Vivy in the recent years has had to swallow the bitter pill of a failing business in the public light; resulting in a a massive pivot.
FashionValet.com, an online marketplace that once stocked over 400 brands across Southeast Asia, became a major regional player in the fashion industry but, by 2022, she had wound the venture down, shifting her focus to her own in-house modest fashion brands, dUCK and Lilit. The silver lining? By 2022, Yusof had built a network of 14 physical stores across Malaysia and Singapore and sold more than 3 million scarves from just one of her brands. Today, we unpack Vivy’s journey, the cost of building a brand around herself, her regret on not acting on her gut and her BILLION DOLLAR AMBITIONS for her next decade in the modest fashion industry.
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Vivy Yusof
Co-Founder of FV Group
Vivy Yusof is the co-founder and creative director of FV Group, the Malaysia-based company behind modest fashion brands Duck and Lilit. The blogger turned entrepreneur launched her firm in 2010 with an initial focus on e-commerce before creating her own direct-to-consumer brands in 2014 and 2019 respectively. By 2022, Yusof had built a network of 14 physical mono-brand stores across Malaysia and Singapore and sold more than 3 million scarves from just one of her brands. Since entering the beauty category with a range of halal cosmetics, she has said her aim is to create “global household names” and turn Duck and Lilit into “go-to brands for modest fashion” as she accelerates exports to key modest fashion markets outside the region.
Her first venture FashionValet.com, an online marketplace that stocked over 400 brands spanning both the modest and mainstream fashion industries across Southeast Asia, became a major regional player but, by 2022, she had wound the venture down, shifting her focus to the modest fashion brands in the group portfolio. By that time, Yusof had amassed over 1.8 million Instagram followers and a loyal community on YouTube. She has starred in a reality show called “Love, Vivy.” and wrote a book on entrepreneurship called “The First Decade” (Penguin, 2022). She has a Bachelor of Laws from the London School of Economics and Political Science. One of the modest fashion industry’s most influential voices in Southeast Asia, she has embarked on a global expansion plan to develop “go-to brands” for the sector.