New Straits Times: Queenspree Inks MoU in Milan
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MILAN: E-commerce retailer of kitchen furnishing products, Queenspree and a Milan-based company have signed a memorandum of understanding (MoU) aimed at increasing trade value between the two companies through the alignment of supply chain management and after-sales service framework.
In a statement, Queenspree said the MoU will, among others, focus on increasing the trade value between the two companies to two million Euros (RM 10 million) over a period of 24 months.
The MoU will also enable Queenspree to introduce more European kitchenware brands on its e-commerce platform, marking a new milestone in the company’s target to on-board a total of 50 brands by 2023.
The MoU further includes the alignment of after sales service framework, including the management of product warranties and technical support, which will allow Queenspree to further improve its service quality and add value to customers.
Queenspree managing director Abdul Rahman Md Din and his counterpart, Stefano Errani signed the MoU on Oct 1, witnessed by Malaysia’s Trade Commissioner to Italy, Faizal Haris and Queenspree’s chief financial officer, Rafiza Abd hamid.
“For the first half of 2021, we have focused our efforts to improve customer experience through technology, including developing same-day delivery processing system, where Queenspree.com is able to calculate the cost of same-day delivery based on distance and customers are able to select their preferred delivery time upon checkout.
"We also partnered with Hoolah, GrabPay and Maybank to offer flexible payment options with zero-interest instalment plans for up to 12 months. As a result of these efforts, our year-to-date sales figure had more than doubled as compared to the same period last year. However, product supply chain remains a challenge to Queenspree’s growth plan. This collaboration is therefore a key element to meet the growing demand and to drive Queenspree to the next phase, which is to strengthen our lead in Malaysia and expand our presence in Singapore and Brunei,” Abdul Rahman said.
Malaysia’s trade commissioner to Italy, Faizal Haris who played an instrumental role in facilitating the collaboration said that the MoU is a step forward in growing the trade network between the two countries and this would pave the way for other Malaysian SMEs to showcase their home-grown products in Italy and Europe, in line with Malaysia External Trade Development Corporation's (MATRADE) mission to promote Malaysian enterprises and products globally.
“Queenspree recorded double digit shareholders’ return in 2020 and we foresee the overall business environment to remain positive in the following years. This MoU came at an opportune time taking advantage of the growing demand and current favourable financing rate to support our trade volume growth”, Rafiza said.Rafiza added they were proud of the trust given by the community of kitchen product enthusiasts.
"Through direct trade relations with suppliers, a variety of high-quality product selection and carefree after-sales service, we hope that this MoU will ultimately benefit all our customers in more ways than before," she added.
For more information about Queenspree’s range of kitchen furnishing products, visit www.queenspree.com
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