A new shopping portal will soon debut in Malaysia on 18 May, started by GuoLine eMarketing, an independent private entity owned by Hong Leong Group.
The portal, GEMFive, is the brainchild of Quek Kon Sean, the youngest son of Tan Sri Quek Leng Chan of the Hong Leong Group, reported The Star.
GEMFive is also targeting Singapore and Indonesia next, Quek was reported as saying, with him adding that less than RM5million has been invested to launch the portal online so far. However, more spending will follow, he said.
The store will offer products across various lifestyle sectors.
On returns, Kon Sean said: “We have to be realistic as we see other players have gone into the business too but this can be made into a profitable business if there is scale and until we reach that (level),’’ reported The Star.
In the recent years, businesses have been crafting their business strategies for ecommerce. Several major ecommerce players such as Zalora, Foodpanda, Lazada, Reebonz and more are already fighting for consumer dollars.