Leflair brand acquired for relaunch in Vietnam after startup shuttered last year

Society Pass, a Vietnam-based technology firm incorporated in the US, announced it has acquired the Leflair brand and will relaunch the platform www.leflair.com in the third quarter of this year.

Photo credit: Leflair

Founded in 2015 by former Lazada executives Loic Gautier and Pierre-Antoine Brun, Leflair originally provided luxury fashion brands and beauty products at steep discounts. The ecommerce startup closed down last year due to a capital crunch and operational issues despite raising nearly US$12 million.

See also: Lessons from the fall of luxury e-tailer Leflair 

Society Pass, which purchased the Leflair trademark and other intellectual property assets, said in a press statement that it wants to relaunch the brand “to continue serving the ever-rising demand for branded shopping online in Vietnam and the region.” 

The company also notes that “necessary adjustments” have been made to ensure the benefits of suppliers and customers. When Leflair filed for bankruptcy last year, it was confronted with suppliers who said that the startup still owned them a large sum in unpaid goods. At the time, co-founder Gautier told Tech in Asia that the sum was “roughly US$2 million” in total.

“We are eager to partner and work with top suppliers in the market and provide them with a comprehensive solution to liquidate old stocks, manage customer analytics, and build loyalty via the Society Pass’ ecosystem,” says Ray Liang, the company’s chief operating officer.

Founded in 2018, Society Pass also owns two other platforms in Vietnam: SoPa, which offers online food ordering and a loyalty scheme, and Hottab, a point-of-sale service provider specializing in payment infrastructure, loyalty management, and joint marketing programs for merchants.

Society Pass says it has onboarded more than 5,500 registered merchants and served over 100,000 consumers who have transacted on its platforms.