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 lifestyle brand market is reportedly growing steadily. The industry is recording impressive revenue numbers thanks to brands like Nike Inc. NKE, Capri Holdings Ltd. CPRI and Lululemon Athletica Inc. LULU.

Statista reports the total revenue in the lifestyle segment is projected to reach $11.5 billion in 2022. In-app purchase (IAP) revenue is forecast to reach $4.35 billion, while paid app revenue could reach $104 million this year.

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

But in a chaotic market that is ever-competitive, companies are deploying several strategies to win new customers and retain existing ones. One strategy that’s caught on is the introduction of loyalty programs that offer discounts, rewards, and other special inducements to attract and retain customers.

Changing The Narrative?

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

The brand, which was acquired by Society Pass Inc. SOPA, offers more than 3,600 premium international brands.

Society Pass is an e-commerce ecosystem in Southeast Asia that offers lifestyle, merchant payment software and loyalty programs.

Founded by French entrepreneurs Loic Gautier and Pierre-Antoine Brun, Leflair specializes in selling discount branded goods and flash sales in Vietnam.

Unlike other markets, the company does not take inventory but rather works directly with official brand distributors to ensure the origin, quality and prices of products it ships to the customer.

Between 2015 and 2019, Leflair reported having more than 120,000 customers with revenue in the millions of dollars. But after raising $12 million from investors, Leflair closed in February 2020 because of a capital crunch and operational issues. It filed for bankruptcy and halted all business activities.

Society Pass Relaunches Leflair

But there was hope for the company. On June 23, 2021, Society Pass (SoPa) acquired Leflair assets, resurrecting it from the dead.

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

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

The tools are meant to allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin.

Thanks to the acquisition, Leflair now operates on an entirely new platform from interface design to operation process and business management model.

As one of the leading flash sales lifestyle e-commerce retail companies in Vietnam, Leflair.com and Leflair App sell products in three verticals: fashion and accessories, beauty and personal care, and home and life.

Apart from 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 top online restaurant delivery service based in Hanoi, Vietnam.

Since 2018, SoPa has scaled operations through its expanding portfolio of companies with more than a million registered consumers and over 5,500 registered merchants/brands.

A regional presence in Singapore, Vietnam, and Philippines allows the e-commerce company to create what it believes is a truly synergetic and multinational customer experience.

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