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PUBLISHED FEB 18, 2018
In a bid to expand into Europe ahead of its planned listing in 2020, Malaysia’s hijab seller Aidijuma Colors Group of Companies has acquired a majority stake in UK-based modest fashion and e-commerce retailer Haute Elan. The financial terms of the deal were not disclosed.
The financial terms of the deal were not disclosed. Established in 2012, Aidijuma sells the popular Malaysian ‘Bawal’ hijab range via its website, other e-commerce sites such as Lazada, and retail and mobile stores across Malaysia. It also operates two retail concept stores in Brunei, according to its website.
The latest deal brings Aidijuma’s total venture investments to $20 million, the company said. It has previously invested in Brunei’s event organising company and retailer BIFASH, Singapore e-retailer MODESTyle, Malaysian cosmetic and skincare brands Simplysiti and Zawara, and bought a controlling stake in Indonesia’s Hijup.com. The Haute Elan acquisition will aid Hijup’s expansion into the UK market, an announcement from Aidijuma said on Sunday.
To read the full article, visit: https://www.dealstreetasia.com/stories/malaysia-hijab-retailer-aidijuma-haute-elan-92662/
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