CheezMall, China’s multi million dollar investment in Pakistan’s ecommerce space, is in-line with Chinese government’s vision and strategy for Pakistan-China Economic Corridor in the long-term, said CheezMall’s prime investors Mr. Li Chenglong and Mr. Wang Qu in an exclusive interview with ProPakistani.
CheezMall, that is aiming to launch an ecommerce store in Pakistan later in November, ran a beta-test during September for around 10 days to determine the market demand and sentiment before a full scale launch.
Company said that response during the beta was overwhelming and that they are now all set to launch the service at full-scale to wider audience with larger range of products.
CheezMall is mainly funded by Mr. Li Chenglong and Mr. Wang Qu, who have combined experience of over 40 years in funding and investments.
Both the CheezMall investors, prior to funding CheezMall, have already ventured into various tech companies and real estate businesses in China.
Mr. Li Chenglong (left) and Mr. Wang Qu (right) while speaking with ProPakistani
“We are just following our government’s line of action as we want to invest in Pakistan to bring along the expertise, skill-set, experience and business-model from Chinese ecommerce industry, considered as one of the most powerful markets in the world, to people of Pakistan”, said Mr. Li Chenglong.
When asked that why a investor would want to leave a lucrative market like China and instead invest in Pakistan, Mr. Li Chenglong said that they see the potential in Pakistan’s growing market and it shows similar trends as China demoed during mid-nineties after the revolution.
They said that they have researched well and are confident about Pakistan’s future and this is exactly why they are here to be part Pakistan’s success during coming years.
While Mr. Li Chenglong and Mr. Wang Qu declined to comment on the value of investment they will be injecting in CheezMall in total, but said that they have good chunk of fund allocated for the project to be successful. “Its an ongoing process and we will keep investing until CheezMall is profitable”, said the CheezMall investors.
Both the gentlemen maintained that CheezMall is an important project for them as they would ideally want to replicate it in other growth markets. “But that would be possible only after we are successful in Pakistan”, said the investors who are long-time friends as well.
CheezMall will rely on flash-sales strategy, and will offer different products on daily basis, meaning that one will have to visit the website daily to keep track of offered products and deals.
Company says that these products will be delicately selected by the staff on daily basis and that these products will come with discounts and various promotions.
CheezMall investors said that they might invest in some other ventures here in Pakistan too, mainly those that are related to ecommerce industry such as logistics. They said that they are in process of evaluating things as of now.
Company is aiming to make quality Chinese products available in Pakistan at rates that are better than any retail outlet in the country.