Ahead of listing, MY hijab retailer Aidijuma acquires majority stake in UK’s Haute Elan

Photo: Aidijuma website

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.

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.

Haute Elan, the seller of modest fashion items in the UK, sells abayas, shawls, scarves and other halal items. It also organised the London Modest Fashion Week for the first time last year, bringing together more than 40 designers from countries including the United Arab Emirates, Saudi Arabia, Egypt, Turkey and Malaysia.

“We look forward to build strategic business partnerships around the world to expand this business model for Modest Fashion globally,” said Aidijuma Colors Group CEO and founder Datin Norjuma Habib Mohamed.

Modest fashion has become increasingly popular among millennial Muslim women worldwide who see it as a way to dress stylishly. Mass-market retailers and designers have taken notice of the market’s potential and joined the bandwagon.

Earlier this month, US retailer Macy’s decided to sell a collection of modest clothing and hijabs in its outlets. It has partnered with modern Islamic clothing boutique Verona Collection for the range.

Macy’s joins a string of fashion retailers such as Nike and American Eagle that started to sell hijabs and other Muslim fashion clothing in their stores.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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