KUALA LUMPUR: FTW Ventures Sdn Bhd, under its brand name, FTW Racing, has inked an agreement to become the exclusive distributor for the Fox Racing brand in Malaysia, Indonesia, Brunei, and Singapore for three years, automatically renewable after the said period.
FTW Racing is a distributor and seller of motorsport sportswear, motorcycles, motorcycle spare parts, accessories and lifestyle collections.
The company currently has five outlets in Malaysia, namely in Johor, Penang and Pahang, including its corporate outlet in Petaling Jaya, as well as eight outlets in Indonesia through licensing concepts.
In a statement, Perbadanan Nasional Bhd (Pernas) said the agency has actively assisted in developing the brand towards franchising through the Medium Enterprise Development division.
“With the investment provided by Pernas, FTW Racing received two investments totalling RM5 million in 2021 and 2022, of which RM2.5 million was utilised to obtain the exclusive rights for the Fox Racing brand,” it said.
Pernas added that through the collaboration, FTW Racing aims to expand its reach by adding more outlets in the country and Indonesia, and the company is also planning to open outlets in Singapore and Brunei this coming September.
During the exclusive distributor agreement exchange ceremony between FTW Ventures and Fox Racing recently, Pernas chairman Datuk Hazimah Zainuddin stated that as Malaysia’s franchise leader, the agency is always ready to support companies like FTW Racing to become franchise businesses and advance their growth.
“Apart from the investment injection, Pernas also assists FTW Racing through one of its programmes, the Xcelerator Project, which aims to guide and develop potential entrepreneurs towards franchising.
“Currently, FTW Racing is in the process of registering its franchise business with the target of obtaining a franchise license in the fourth quarter of 2023,” she said.
Meanwhile, FTW Ventures chief executive officer Hairolsham Abu Bakar hopes that the exclusive distributor status will help the company to further solidify its position in the motorsports industry in the region.
He also said that the company is working towards expanding its range of sports equipment products in its outlets to offer more choices to outdoor and extreme sports enthusiasts in Malaysia.
“In March, FTW Racing launched a new application for customers to easily and quickly order and purchase extreme sports products, and the application is available for download on Google Play Store or Apple Store,” he said. – BERNAMA
