How a RM2.60 pricing strategy will make Eco-Shop's Lee a billionaire through Malaysia's biggest IPO of 2025
The listing will value the company at about RM6.38 billion, giving founder and managing director Datuk Seri Lee Kar Whatt a RM4.9 billion stake, according to the Bloomberg Billionaires Index.
The company's rapid growth — with revenue rising over 50 per cent in two years — underscores strong demand for low-cost goods amid rising inflation, Bloomberg reported.
'Fixed-price retailers became a first choice,' said Ng Zhu Hann, founder and chief executive officer of Tradeview Capital, in an interview. He was referring to Eco-Shop's fixed RM2.60 price for all items sold in its Peninsular Malaysia outlets.
Lee co-founded the first store in 2003 with his brother and two others, and still operates from the company's headquarters in Jementah, Johor.
Ng noted that Eco-Shop competes with established players such as Mr DIY Group (M) Bhd, as well as newer entrants led by entrepreneurs from mainland China.
In its prospectus, Eco-Shop stated that it sees ample growth potential and aims to open around 70 new stores each year over the next five years.
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