Malaysia's 11street eyes triple-digit growth by year-end

Malaysia's online e-mall, 11 street, is eyeing triple-digit growth by year-end to be driven by significant growth in the number of sellers and merchandise on its platform.

Chief Executive Officer, Hoseok Kim, said currently, there were about 13,000 sellers on its platform with 90 per cent of them Malaysians.

He said the online e-mall, which was formed in April last year, has over five million products.

"The company is also aiming to continue growing its customer base and enhaning existing user experience with its recently-renewed 'Shocking Deals' section optimised on mobile applications," he said at a media briefing on "Shocking Deals Come to Life" here Monday.

Kim said the section was enhanced with new features to make shopping online easier and products sold on the shocking deal were backed by the promise of lowest price guaranteed.

He said with the growing interest of sellers to participate on the platform, the number was expected to reach over 20,000 by year-end.

11 street also announced its collaboration with Celcom Xpax with the launch of its year-long exclusive 10 per cent reload savings.

Celcom Axiata Bhd Chief of Sales and Marketing Officer, Zalman Aefendy Zainal Abidin, said by partnering with 11 street, the company hoped to grow its digital sales and distribution.

He said currently sales through digital sales among telecommunication companies were very small, accounting for around single-digit per cent as most sales were done through dealers.

"Celcom wants to grow it as much as possible and hopes to expand it by 30 per cent in the next three years," Zalman said.

He believed that digital platform could be the right platform to reach out to clients from the youth segment.

11 street is South Korea's largest online marketplace while the Malaysian version is hosted by Celcom Planet Sdn Bhd, a joint-venture company