Cosway to introduce 3-in-1 concept with RM10m investment

TOKYO (Dec 27, 2011): Cosway Corp Ltd plans to introduce a 3-in-1 concept at Cosway shops throughout Malaysia beginning next month with an investment of RM10 million.

Chairman and CEO Al Chuah said the 3-in-1 (organic, pharmacy and Cosway products) concept would boost next year's revenue to RM2 billion from an expected RM1.7 billion this year.

"The 3-in-1 concept is the first in the world and it is not entirely a multi-level marketing system but will offer a retail shop concept.

"We will introduce the concept not only in Malaysia but in other countries where we operate currently.

"We decided to introduce the pharmacy-concept as it will attract a lot of customers to our shops compared with those who only walk into our shops because they know the brand," he told reporters after the launch of the 3-in-1 Cosway shop here by Domestic Trade, Cooperative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.

The minister said the first concept store would not only sell pharmaceutical and organic products but also other Cosway products. Of the 2,000 products in the shop, more than 400 are made in Malaysia.

"This is one way to export our products to Japan. With Cosway, owned by Malaysians, we can actually bring in more Malaysian products into Japan," said Ismail Sabri.

Meanwhile, Chuah said Cosway planned to expand its network in Japan to about 100 outlets next year with an investment of between RM30 million and RM50 million.

"We also plan to penetrate Mexico, Colombia, Russia, China and Turkey next year and would invest RM20 million in each of these markets."

Berjaya Corp Bhd (BCorp) chairman Tan Sri Vincent Tan said he was confident the concept would be a success and compete internationally.

He said Cosway planned to export more Malaysian-made quality products which met the criteria of Japanese consumers. — Bernama