E-commerce platform for branded goods Leflair is expected to resume operations under a new owner in Q3.
The U.S.-based Society Pass Incorporated announced Wednesday it had bought Leflair and other intellectual properties, including the domain name, from a company in Hong Kong.
The revived Leflair will expand operations to other Southeast Asian markets next year, Society Pass Inc. said.
Society Pass is an e-commerce startup that specializes in connecting consumers with suppliers in Southeast Asia and South Asia. In Vietnam, Society Pass currently runs Sopa, an e-commerce platform for foods and drinks and gastronomy, and #Hottab, a supplier of solutions and marketing connections for users’ data management.
Leflair was established in 2015 by two French young entrepreneurs, Loic Gautier and Pierre-Antoine Brun. It acted as an e-commerce platform for branded goods and flash sales. It did not operate as an online marketplace, but worked directly with brands and official distributors in Vietnam and overseas.
In four years ending in 2019, it secured over 120,000 clients and made net revenues of tens of millions of dollars a year. It ceased operations early 2020. Co-founder and COO of Leflair, Brun, had told suppliers then that the firm had not settled debts totaling $2 million.
Society Pass said it has nothing to do with Leflair’s old legal entity in Vietnam as also the two individuals who’d co-founded it earlier.