CUCKOO International Reports 7th Consecutive Year of Record-Setting Revenue Growth in 2021;
Optimistic About Accelerating Local Business Growth in 2022
- CUCKOO International marked its seventh consecutive year of revenue growth, reporting a total of RM185.5 million in profit after tax (PAT) for the fiscal year ending 31 December 2021
- The Healthy Home Creator and Fujiaire ink a Memorandum of Agreement (MoA) to co-develop home offerings for 66,000 Malaysians to create a comfortable indoor atmosphere
KUALA LUMPUR, 31 March 2022 – Healthy Home Creator, CUCKOO International (MAL) Sdn Bhd (CUCKOO International) recorded RM185.5 million in profit after tax (PAT) for the calendar year ending 31 December 2021, delivering its seventh consecutive year of topline growth amidst a challenging market backdrop with a 44% year-over-year increase from 2020. Coming off a record-breaking year, CUCKOO International is optimistic about its 2022 prospects with solid business strategies in the pipeline to create more healthy home solutions for Malaysians to live healthier and happier.
A Year of Stellar Financial Performance
At the end of the fiscal year 2021, CUCKOO International achieved over RM1.13 billion in revenue in the Malaysian market, largely driven by positive growth and key product launches in the same year. The overall solid financial results in the past year, combined with CUCKOO International’s commitment to pushing the boundaries of its capabilities, empowered over 1.4 million homes and 4.7 million household users with healthier solutions that are Beyond Standards. At the same time, the company has established more than 640 branches nationwide since its inception in 2014.
Commenting on the company’s performance for the year, CUCKOO International Founder & CEO, Mr KC Hoe (Hoe Kian Choon), said, “Our strong finish to fiscal 2021, including record-setting revenue growth, is propelled by strong demand of Malaysians preference towards healthier offerings/solutions made affordable and accessible through our flexible subscription model concept. To meet this demand, we have developed various subscription plans under the GOOODPLAN™ to provide customers with a variety of affordable payment options that enabled a low barrier to entry. In fact, more than 90% of our customers subscribed to rental-based services, which has further accelerated our business momentum and growth across the country.”
“Our solid financial achievements in the past year is a testament to our unwavering commitment to delivering sustainable growth at scale with continued momentum across each business pillar. Moreover, the introduction of various innovative healthy home solutions at the peak of the pandemic, had showcased the company’s remarkable resilience and its ability to understand customers’ demand for healthier living during these unprecedented times,” added Mr KC Hoe (Hoe Kian Choon).
Raising The Bar of Excellence By Delivering Holistic Healthy Home Solution
In line with the company’s mission to become the No. 1 Healthy Home Creator in Asia, CUCKOO International continues to develop Beyond Standards products and services through its four strategic pillars to innovate the way we rethink health and restart homes with better quality of life. The different aspects of what makes a healthy home are categorised into four Healthy Home ‘pillars’.
- The first Healthy Home pillar, known as the ‘Healthy Appliances’ pillar is dedicated to developing and introducing healthy appliances. This includes the CUCKOO PRIME X3 Outdoor Water Filter that was launched in 2021 through continuous improvement in its research and development initiatives.
- Aptly named the ‘Healthy Lifestyle’ pillar, it is the second Healthy Home pillar under CUCKOO International with a focus to elevate the beauty standard and lifestyle of Malaysians. Leading the pillar is WonderLab Group and its beauty & wellness brands, WonderLab & WonderDewi, featuring its range of skincare, cosmetics and nutritional beverages with total revenue of RM10 million in 2021 and is expected to grow steadily this year.
- At the peak of the pandemic, CUCKOO International introduced the WonderKlean brand under the third Healthy Home pillar, the ‘Healthy Home Care’ pillar, aiming to provide professional home care services with its specialised service team – the CUCKOO+ Service Team, which has seen the pillar’s revenue growth leapt over 130% from RM2.3 million to over RM5.3 million in 2021.
- The latest and fourth Healthy Home pillar, the ‘Healthy Living’ pillar, focuses on reinforcing the company’s position as the Healthy Home Creator through strategic collaborations with local enterprises. Launched in early 2021, the pillar sees great growth potential with an exceptional RM31.7 million revenue generated from a single product, a bedding range that was co-created with LSK Napure.
CUCKOO International, Fujiaire Ink MoA to Co-Develop Healthy Home Offerings
Accelerating its portfolio advancement, CUCKOO International and homegrown air-conditioning manufacturer Fujiaire Global Sdn Bhd (Fujiaire) has inked a Memorandum of Agreement (MoA) to create a comfortable indoor atmosphere for Malaysians. The strategic partnership with Fujiaire also allows CUCKOO International to expand its fourth Healthy Home pillar, Healthy Living.
The new CUCKOO Vita-S Inverter Smart Air Conditioner will be turning Malaysians’ homes cooler and healthier by infusing Vitamin C into the air, helping to moisturise the skin and enhancing immunity. It also releases silver ions into the air, destroying bacterial cell membranes at a very low concentration.
“Staying true to our philosophy of Beyond Standards, CUCKOO International has supported over 4.7 million household users through a diverse range of healthy home offerings. We are thrilled with this strategic partnership with Fujiaire. It further allows both parties to continue innovating and providing a future-forward technology that would raise the quality of life among Malaysians, ” said Mr KC Hoe (Hoe Kian Choon).
This strategic partnership will see both parties leveraging the expertise of each other in the development of the air-conditioning system and is projected to bring in over RM40.7 million in revenue under the Healthy Living pillar in the next year. As a result, CUCKOO International will be providing over 66,000 Malaysians in the next year with cleaner and cooler air, which is also a key element towards having a comfortable and cooling indoor air environment and healthier living.
Mr Wong See Wei, Managing Director of Fujiaire Global Sdn Bhd said, “As a homegrown brand that has 40 years of air conditioner experience under our belt, we are pleased to mark a new milestone with CUCKOO International to enhance the lives of Malaysians through cutting edge air conditioning inventions to deliver meaningful experiences whilst providing healthy home solutions for our customers.”
The strong performance growth in 2021 truly reflects CUCKOO International’s goal of making healthier living affordable for all Malaysians. CUCKOO International will continue its momentum by curating living spaces with more holistic and healthy home offerings that are beyond standards to become the No.1 Healthy Home Creator in Asia.
CUCKOO International Founder & CEO, Mr KC Hoe (Hoe Kian Choon) said the collaboration with Fujiaire provided a suitable opportunity for the company to expand its fourth Healthy Home pillar, Healthy Living.
Fujiaire Global Sdn Bhd Managing Director, Mr Wong See Wei said the strategic partnership with CUCKOO International bodes well for its aim to enhance the lives of Malaysians through cutting-edge air-conditioning inventions to deliver meaningful experiences.
MoA Signing Ceremony: (from left to right) The memorandum of agreement (MoA) between CUCKOO International and Fujiaire is signed and witnessed by CUCKOO International Chief Revenue Officer, Mr Mak WH (Mak Wai Hoong), CUCKOO International Founder & CEO, Mr KC Hoe, Fujiaire Global Sdn Bhd Managing Director, Mr Wong See Wei, and Fujiaire Global Sdn Bhd Director, Mr Tan Boon Eng, marking a phenomenal milestone to promote its healthy home offerings.
Unveiling of product : CUCKOO International Founder & CEO, Mr KC Hoe, and Fujiaire Global Sdn Bhd Managing Director, Mr Wong See Wei unveiled the CUCKOO Vita-S Inverter Smart Air Conditioner that aims to create a cooling indoor air environment and promote healthier living.
Financial results : (from left to right) CUCKOO International Chief Marketing Officer Ms Queenie Goh, CUCKOO International Chief Financial Officer Mr Bryan Yeong, CUCKOO International Founder and CEO Mr KC Hoe, CUCKOO International Chief Customer Officer Mr Toh Seng Lee, and CUCKOO International Chief Revenue Officer Mr Mak WH (Mak Wai Hoong), celebrated CUCKOO International’s solid financial achievement in FY2021.
(from left to right) CUCKOO International Chief Customer Officer, Mr Toh Seng Lee, CUCKOO International Chief Marketing Officer, Ms Queenie Goh, CUCKOO International Chief Financial Officer, Mr Bryan Yeong, CUCKOO International Founder and CEO, Mr KC Hoe, Fujiaire Global Sdn Bhd Managing Director, Mr Wong See Wei, Fujiaire Global Sdn Bhd Director, Mr Tan Boon Eng, and CUCKOO International Chief Revenue Officer, Mr Mak WH (Mak Wai Hoong). The group photo was taken at the CUCKOO International’s Business Media Briefing.