IN order to accommodate more users and transactions, Cheetah Holdings Bhd – one of the most dominant home-grown brands for sports and casual wears and accessories – has unveiled its re-designed website today.
This is part of Cheetah’s efforts to digitalise its traditional business model to capture younger, more vibrant online audience in a market that is worth RM16.4 bil in Malaysia.
It has also expanded its presence from its current 700 in-store locations and two flagship outlets to reach wider audiences through a network of 20,000 distributors with its partnership with XOX Bhd.
Through XOX’s Black App, Cheetah would have access to a ready customer base of 2.5 million subscribers. Besides that, Cheetah expects to generate additional RM25 mil per year in revenue through this partnership.
“Businesses are evolving; thus, we must evolve too,” Cheetah’s executive director Roy Ho said at the launch today.
“Previously, we started on a smaller scale online to try out the market but when the pandemic hit, we must expand online to sustain as foot traffic to departmental stores are close to zero.”
Ho explained that Cheetah is re-training its human resource to equip them with digital marketing skills while their collaboration with XOX is not limited to only e-commerce marketplace.
“We will explore using TraX which is a traceability software by XOX in partnership with Antchain blockchain technology,” Ho remarked.
“Consumers can track the supply chain of our products, ensuring transparent product sustainability, production efficiency and regulatory compliance.”
Meanwhile, XOX’s Black App will carry a variety of Cheetah’s products, reaching out to its current network of distribution dealers.
By end-April, XOX will open its Black Market place to its 2.5 million subscribers. XOX is looking to introduce buy now pay later (BNPL) concept on its app too as part of its natural progression into fintech.
“XOX is consistently on the lookout for more products to help our dealers sell more and acquisition of Cheetah is in line with our goals to add value to our dealers,” its mobile group CEO Ng Kok Heng pointed out.
“We are committed to bulk break all the products that we carry and offer competitive prices to the market.” – April 6, 2021