PETALING JAYA: Cheetah Holdings Bhd, XOX Bhd and Lambo Group Bhd today entered into a tripartite collaboration for a new, full suite and automated Cheetah Online Store, slated to be launched by next quarter.
Cheetah, with over 1,000 stock-keeping units spanning across four major brand silos and sub brands, is moving to emulate other apparel brands to begin grabbing the online apparel market share, which is expected to hit over RM4.5 billion in 2021. Statistic expects the user penetration to exceed 30% by 2021.
Online shopping for clothes have become increasingly popular as shopping malls and standalone outlets succumb to lower foot traffic and Covid-19 pandemic scares.
The consortium is targeting an immediate rollout, with this collaboration by early second quarter of 2021.
Cheetah aims to remodel and revamp its brands to be more receptive of the current trends, focusing on online business and the dynamic youth market, increasing its revenue per customer by bundling and brand re-imagination.
XOX lends its 2 million strong customer base, extensive dealer network exceeding 20,000 dealers nationwide and also its e-wallet to provide consumers with bundled discounts, transaction benefits and a ready captive audience.
Lambo, will lend its machine learning model, last mile delivery and explore collectively a bulk breaking, inventory management and e-fulfillment silo operation to cater for what would be an anchor client.
This project will see each company pool its resources, talents, technology know how and industry expertise to give rise to a collective model with independent revenue streams to counter moves already made by Uniqlo, Zara and Zalora.
“This concerted effort represents a turnkey solution to provide all three companies with an immediate boost to revenue, product and presence,“ said XOX CEO Ng Kok Heng.
“Additional product will lift our average revenue per user significantly, as customers spend more using digital means. Our e-wallet along with our dealer network will be instrumental in escalating this project,“ he added.
The flow on effect will see Cheetah have immediate access to an excess of 2 million online customers being exposed to the latest design and trends.
The revamped and new look platform is expected to be launched by April 2021.
