Cheetah expects additional RM25 mil annual revenue through online shopping venture

Cheetah expects additional RM25 mil annual revenue through online shopping venture
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PETALING JAYA (April 6): Cheetah Holdings Bhd (Cheetah) is expecting to generate an additional revenue of RM25 million annually with the launch of its newly-revamped online apparel store today. 

To this end, the sports apparel company has collaborated with mobile telecommunications service provider XOX Bhd (XOX), giving Cheetah access to a ready customer base of 2.5 million subscribers through XOX's Black App.

Under the collaboration, XOX's Black App will carry Cheetah’s products, where users can purchase the products and pay for them in instalments over a three-month period. 

"XOX only sells mobile products so we don't have core products to push out in a big way, but with the collaboration with Cheetah, we now have daily-use products that people buy,” said Cheetah executive director Roy Ho, who is also the executive director of XOX.

Currently, Cheetah has 700 departmental counters and two flagship stores nationwide. 

There are also plans to include Cheetah into the XOX’s Black Market platform which recorded triple-digit revenue growth on a monthly basis since its launch in January 2021. 

Speaking to Bernama, XOX chief executive officer, Ng Kok Heng said the Black Market offers micro-financing and buy-now, pay-later services to customers and small businesses. 

At present, there are 20,000 dealers on the XOX mobile network, and the company is also planning to secure another 30,000 dealers. 

Ng said with its network of dealers, XOX is keen to develop an ecosystem that could solve funding issues, especially among enterprises.