KUALA LUMPUR, 29 June 2020:
A premium lifestyle brand which broke Malaysian equity crowdfunding records in December last year and has pivoted away from selling made-to-order luxury quality white shirts at affordable price tags and since expanded its product offerings into the lifestyle space by adding homecare and personal care products onto its e-commerce platform is marking its second anniversary from tomorrow
“Globally, it is estimated that around 30% of new businesses fail in the first two years and 50% in the first five years. Hence, between now and year 2023, it is crucial for the brand to focus on winning the online premium lifestyle space,” said Oxwhite founder CK Chang in a statement.
Having raised US$1.188 million (RM5.019 million) from 485 investors, he said the brand is set to reach its goal of achieving double-digit growth by end of this year – noting that turning two means more than merely staying afloat with its business enhancement, expansion and extension plans.
In enhancing its marketing initiatives, Oxwhite is launching a birthday anniversary sale, giving away cash vouchers worth over RM50,000. Oxwhite is also partnering with fellow startup in e-commerce delivery space, HappyFresh to give away additional cash vouchers worth over RM11,000 to its customers.
“On top of 50% price reduction on our premium quality products, customers of Digi, Maxis and RHB will also enjoy additional discounts when they shop on our platform from 1st July 2020. We also aim to grow our customer base, reaching at least 200% growth by this year-end,”
Having attracted more than 80,000 customers in less than 24 months and sold over 400,000 items on its platform since 2018, Chang said: “This year, we aim to launch another 50 products into our line-up starting with Basic White Tees and luxury hotel grade bamboo towels this month.
“Come September, we will be launching our range of performance products so that fitness and activewear enthusiasts can look forward to buying affordable premium quality products as well.”
As Oxwhite, which operates on a direct-to-consumer model, essentially aims to bring premium quality to the homes of Malaysians and Asians at large at a fraction of the premium price point, Chang noted: “There is definitely demand for such products here in Malaysia and throughout the region.”