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Colors Group Aidijuma Colors Group, with Hijup, acquire majority stake in United Kingdom's e-commerce retailer, Haute Elan 18-Feb-2018 / 10:00 CET/CEST *Aidijuma Colors Group, with Hijup, acquire majority stake in United Kingdom's e-commerce retailer, Haute Elan * KUALA LUMPUR, MALAYSIA - Media OutReach [1] - Feb 18, 2018 - Aidijuma Colors Group of Companies - which owns the popular Malaysian 'Bawal' hijab range under the Aidijuma label - together with its modest wear e-commerce site Hijup have acquired a majority stake in UK-based modest fashion and e-commerce company Haute Elan ahead of Hijup's expansion into the UK market. Established in 2012, modest fashion brand Aidijuma adopts the creative business model of online merging offline to offer the best possible experience to customers. With its omnichannel strategy, Aidjuma is the only brand in Malaysia that offers online shopping and owns 12 retail concept stores nationwide, complemented by 12 Scarf Machine.send.sell.story mobile concept stores to provide a seamless experience for consumers. With plans for listing by 2020, the latest venture capital investment for Aidijuma Colors Group is in Haute Elan, which is also the organiser of the London Modest Fashion Week - the UK's very first modest fashion week - that was held for the first time last year that brought together more than forty designers from countries including the United Arab Emirates, Saudi Arabia, Egypt, Turkey and Malaysia. Modest fashion has become increasingly popular among millennial Muslim women worldwide who see it as a way to dress stylishly. "Modest fashion is a growing trend that offers women options, choices and freedom to express themselves while being fashionable which mass-market retailers and designers are already taking notice of the market's potential so we are investing in the future by taking a stake in it now. We look forward to build strategic business partnerships around the world to expand this business model for Modest Fashion globally," said Aidijuma Colors Group Chief Executive Officer and founder, Datin Norjuma Habib Mohamed. The latest investment in Haute Elan brings Aidijuma Colors Group's total venture capital investment amount to date to US$20 million, which includes stakes in Brunei's event organising company and retailer BIFASH, Singapore e-retailer MODESTyle, Malaysian cosmetic and skincare brands Simplysiti and Zawara, as well as Indonesia's Hijup.com in which it also controls. Issued on behalf of Colors Group by *WestCoast Public Relations*. For further media inquiries, please contact David or Mayanne at (+603)7954 4505 or david@westcoast.my [2] / mayanne@westcoast.my Dissemination of a FINANCIAL NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 654775 18-Feb-2018 1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=8fb96749ec59423ef89723f5f07dfbe3&application_id=654775&site_id=vwd&application_name=news 2: mailto:eliza@westcoast.my
(END) Dow Jones Newswires
February 18, 2018 04:00 ET (09:00 GMT)
