PETALING JAYA: Cheetah Holdings Bhd is optimistic of a good fourth quarter ending June 30, 2022 (Q4’22) and 2022 financial year overall, on encouraging sales expected in the second half.
Its executive director, Roy Ho, said: “I think our sales are going to be good for Raya and Ramadan. We had a good three months for the December quarter when there was a return to spending by consumers. When the MCO (movement control order) was lifted and people started coming out, they had money to spend, so they went to buy clothes. And then after Chinese New Year (CNY) we had a bit of a dip. Generally, retail sales are weaker after CNY because people have spent their money, and then we expect to see a surge for Raya again.
“So the challenge for us is to keep our products fresh, and our launch is in time for Raya as well as the extension of post-Raya sales. We should have a good end to the financial year. We hope that the designs will carry forward to the next financial year,” he told SunBiz during the unveiling of Cheetah’s Spring/Summer 2022 collection last week.
Cheetah posted a net loss of RM1.16 million in H1’22 compared with a net profit of RM4.27 million in H1’21, mainly due to taxation and higher other operating expenses; but revenue rose 12% to RM58.35 million from RM52.14 million in H1’21.
In previous years, Ho said, the brand carried staples and rarely added new designs. However, Cheetah now plans to introduce new designs every fashion season. The brand plans to have an Autumn/Winter collection as well.
“We will replace the old designs with the new ones originally in the stores and give it 18 months all the stores will carry the new designs and the old designs to be phased out. But still, those that sell well we’ll keep. We’ll keep them as our staples,” he said.
Cheetah’s Spring/Summer collection featured adopted styles from the 1990s and was the brand’s first-ever fashion show since 1989. It was also Jovian Mandagie’s first fashion show with Cheetah as its creative director. This collection represents Cheetah’s further interest in setting its sights on the urban market and to continuously appeal to its current and potential market segment while strengthening its footing in the fashion arena.
In the coming months, Cheetah and Jovian will draw inspiration for new collections, as well as to upscale Cheetah staples to be more relevant and more in tune with the needs of young consumers. who represent the key target market.
The 1990s fashion saw the emergence of the “glamazon” era, punctuated by low maintenance and affordable clothing brands taking centre stage. Consumers were influenced by a combination of sportswear and streetwear outfits which has morphed into today’s athleisure. Cheetah blended in the idea and translated it into this collection as this approach is evergreen and always relevant to the current living style.
This collection also marks a new direction for the brand, in efforts to refresh the company’s current line of clothing to suit the trending athleisure market.
“We will deliver a brand-changing image,” said Ho.
