Vietnamese lifestyle, e-commerce and retail company Leflair relaunches under new ownership

Leflair is an online marketplace in Vietnam (Source: leflair.com)

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The market for lifestyle brands is said to be constantly growing. The industry is recording impressive revenue figures thanks to brands such as Nike Inc. NKE, Capri Holdings Ltd. IRCP and Lululemon Athletica Inc. LULU.

Statista reports that total lifestyle segment revenue is expected to reach $11.5 billion in 2022. In-app purchases (IAP) revenue is expected to reach $4.35 billion, while paid app revenue could reach $104 million. This year.

A lifestyle brand generally tries to express the values, interests, aspirations, attitudes or opinions of a group for marketing purposes.

But in a chaotic and increasingly competitive market, companies are deploying several strategies to win new customers and retain existing ones. One strategy that has taken hold is the introduction of loyalty programs that offer discounts, rewards and other special incentives to attract and retain customers.

Change the story?

In Asia, the Flair The online market says it is looking to change the marketing narrative of lifestyle brands. Leflair was founded in 2015 to provide luxury fashion brands and beauty products at low prices.

The brand, acquired by Company Pass Inc. SOPsoffers more than 3,600 premium international brands.

Society Pass is a Southeast Asian e-commerce ecosystem that offers lifestyle software, merchant payment, and loyalty programs.

Founded by French entrepreneurs Loic Gautier and Pierre-Antoine Brun, Leflair specializes in the sale of discount branded products and flash sales in Vietnam.

Unlike other marketplaces, the company does not keep inventory but rather works directly with the brand’s official distributors to guarantee the origin, quality and prices of the products it ships to the customer.

Between 2015 and 2019, Leflair said it had more than 120,000 customers with multimillion-dollar revenues. But after raising $12 million from investors, Leflair closed in February 2020 due to a shortage of capital and operational issues. It filed for bankruptcy and ceased all business activities.

Society Pass relaunches Leflair

But there was hope for the company. On June 23, 2021, Society Pass (SoPa) acquired Leflair’s assets, raising him from the dead.

SoPa also said it acquired other intellectual property from the company, including domain names. A new Society Pass team took over operational management and relaunched Leflair in Vietnam in Q3 2021 with plans to expand into Southeast Asia this year.

Society Pass provides merchants with #HOTTAB Biz, an order management application for business partners on SoPa.asia, and #HOTTAB POS, a specialized point-of-sale technology solution that is a payment system, loyal customer management, user profile analysis and financial support programs for small and medium-sized businesses.

The tools are intended to enable businesses to attract and retain customers through personalized, analytics-driven interaction with a high profit margin.

With this acquisition, Leflair now operates on a whole new platform from interface design to operating process and business management model.

Leflair.com and Leflair App, one of the leading online lifestyle retail companies in Vietnam, sells products in three verticals: fashion and accessories, beauty and personal care, and home and life.

Besides Leflair, SoPa also operates Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in the Philippines, and Handycart.vn, a leading online restaurant delivery service based in Hanoi, Vietnam.

Since 2018, SoPa has expanded its operations through its expanding portfolio of businesses with over 1 million registered consumers and over 5,500 registered merchants/brands.

A regional presence in Singapore, Vietnam and the Philippines enables the e-commerce company to create what it sees as a truly synergistic, multinational customer experience.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investment advice.

Anne G. Cash