XOX forms tripartite venture with Cheetah and Lambo for online retail platform


Cheetah Holdings Bhd (Cheetah) has entered into a joint collaboration with Lambo Group Bhd (Lambo) and XOX Bhd (XOX) to launch a newly designed, full-suited online retail platform, the Cheetah Online Store.

In a statement released today, XOX stated the collaboration was driven by the success of it’s Black Market marketplace that recorded revenue growth of triple digit on a monthly basis since its launch in January 2021.

The new platform is slated to be launched by April 2021. Cheetah has more than 1,000 stock-keeping unit (SKU) that span across four major brand silos and five sub brands.

The flow-on effect of the new platform will see Cheetah have immediate access to over two million XOX online customers.

XOX CEO Ng Kok Heng (picture) said user penetration is expected to exceed 30% this year, and an immediate rollout is being targeted.

“This concerted effort represents a turnkey solution to provide all three companies with an immediate boost to revenue, product, and presence. Additional product will lift our Average Revenue Per User (ARPU) significantly, as customers spend more using digital means. Our E-wallet along with our dealer network will be instrumental in escalating this project,” Ng stated in a release today.

Cheetah will focus on its online business and target youth market while Lambo will lend its machine learning model, last-mile delivery and explore collectively a bulk breaking, inventory management and e-fulfilment silo operation to cater for what would be an anchor client.