September 18, 2019

Onyapreneur: Ng Leok Cheng, CEO of Maxi-Cash

Tell us about LuxeSTYLE.

LuxeSTYLE is dedicated to offering the best variety of pre-loved luxury timepieces, designer leather bags, and branded jewellery, including gold, diamonds, precious stones and pearls.

Located in the heart of Melbourne’s CBD, our modern flagship store stocks premium pre-loved luxury brands such as; Rolex, Cartier, Bvlgari, Chanel, Prada, Louis Vuitton, Panerai, Omega and many more. These brands consist of some of the most desirable high-end products in the market, for a fraction of the price.

Alongside pawn-broking services, we also sell our own range of brand new gold and diamond jewellery. We offer competitive prices on 22K and 24K gold pieces, which is a great investment as the value of gold has hit an all-time record in recent times.

What inspired you to launch LuxeSTYLE by Maxi Cash in Australia?

Opening our first store in Melbourne, Australia, was driven by the local demand for luxury, designer goods and gold, especially amongst the Asian market. Melbourne is also one of the world’s top 3 liveable cities, and the fashion capital!

We saw a gap in the Australian market for accessible, pre-owned luxury items, that people will love immediately and trust the quality in nature and design. We wanted to create a special in-store experience, where our customers can shop, inspect, and receive a genuine understanding of their desired purchase – ultimately, breaking down the fears that are often felt when shopping online.

We also wanted to create an environment where people don’t have to feel intimidated by coming in to swap their designer goods, enquire about a product with the help of our lovely and attentive staff members, or even window shop.

Tell us about your career and background.

Before being appointed CEO of Maxi-Cash group in January 2015, I was heavily involved in the banking and technology industry. This previous experience helped me create a modernized, professional pawnbroking and retail business, through offering high quality, valuable products at a competitive interest rate and with complete transparency to customers.

In my current role, I oversee the overall management and business development of the company. We currently have a total of 47 stores in Singapore, 1 store in Maylasia and a recently opened boutique in Melbourne, Australia.

Outside of work, I love spending quality time with my family, traveling and playing golf!

Describe a typical work-day for you.

To provide a little background regarding day-to-day Singapore operations, my team and I are continuously discussing and planning actions around short and long-term plans to grow the company.

By visiting stores and receiving feedback from our retail staff, helps us evaluate and make decisions on how best to improve the business. Second to that, through innovation initiatives that ultimately translates to convenience and better value for customers, enables us to improve efficiency on our product and service offering.

When in Melbourne, I’m assessing market potential and aiming to generate more awareness around LuxeSTYLE to the Melbourne community. Further to this, I’m thinking about how our product offering can positively adapt to the retail landscape in Australia, and ultimately, bring the best value to our customers.

What advice do you have for those wanting to progress up the ladder in a business?

If there’s anything I can advise it’s to always be passionate and ahead of the game – whether you’re building your current business or just starting one. We noticed the demand within the Australian-Asian demographic and made an opportune decision to open a boutique in the heart of Melbourne.

Since opening LuxeSTYLE by Maxi-Cash in late June this year there has been an immense amount of foot traffic through our store and a considerable uptake across all product offerings – in particular, our gold pieces and designer handbags.

What’s next for you, and LuxeSTYLE by Maxi-Cash?

We will continue to strive and build on our vision of being a premium and luxurious brand, where customers can expect high-quality designer goods and accessories, all for a fraction of the cost.

This has already been apparent within the Asian community through previous exposure to Maxi-Cash and our product offering. Therefore we have been able to leverage this and generate further awareness within the Asian-Australian market.

Our main focus now is to educate the wider Australian community, who are still getting to know our brand. Being new to the Australian landscape, it is important that we continue driving awareness about LuxeSTYLE and educate the broader Australian demographic about our offering, so they know they can expect the best value for money when shopping with us.

With 11 years of experience and expertise, we hope to bring our best practices to Melbourne and fulfill the consumer gap; offering transparency and value to customers with high offers to their valuable items. Through building Maxi-Cash as a trusted pawnshop and retailer; we aim to make a long-standing mark in the Australian pre-loved goods and gold jewellery market. 

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