The apparel manufacturer jumped 18.24%, or 29 sen to RM1.88 with over eight million shares done.
Cheetah, XOX and Lambo have entered into a tripartite collaboration to launch an online apparel store, Cheetah Online Store, by April 2021.
Under the collaboration, led by XOX, Cheetah will revamp its apparel brands, focusing on online business and the youth market, the companies said in a joint statement.
Cheetah has more than 1,000 stock-keeping unit (SKU) that span across four major brand silos and five sub brands.
The flow-on effect of the new platform will see Cheetah have immediate access to over two million XOX online customers.
XOX will lend its two million-strong customer base, its dealer network of over 20,000 dealers nationwide, and its e-wallet platform to provide customers with bundled discounts and transaction benefits.
Lambo Group, meanwhile, will lend its machine-learning model, last-mile delivery and explore collectively a bulk-breaking, inventory management and e-fulfilment silo operation “to cater for what would be an anchor client”, the statement added.