Malaysian cable TV operator Astro has entered a joint venture with South Korean multimedia retailer GS Home Shopping.

And Astro is projecting sales of RM500 million (US$143 million) annually by 2019 after the service has gained critical mass.

Astro will own 60 per cent of the joint venture, Go Shop, which will operate 24-seven on TV and online. The service was soft launched in a trial last November.

Datuk Rozalila Abdul Rahman, CEO of the JV, said the key to the concept’s success will be its presence across multiple platforms – Go Shop’s competitive edge was that it was available on various platforms. On Astro’s service it is on Channel 118 and it is also accessible online and on smartphones.

Astro CEO Datuk Rohana Rozhan said the company reaches 4.3 million homes in Malaysia, with a reach of 17 million consumers. By nature, these will be largely middle class families or individuals with relatively high disposable incomes.

Since the soft launch, Go Shop has sold more than 110,000 products, the majority household items.

While just 60 products are available currently, the offer will double within the year.

“To-date, the new 24-hour shopping service has over 72,000 customers with 800 new customers daily,” Rohana told a media briefing.

She predicts the Malaysian retail market will grow from RM110 billion now to more than 160 billion by 2020.