Society Pass (SoPa) spins off Leflair to create Leflair Group (LFG), appoints New CEO
SINGAPORE, Apr 15, 2022 – (ACN Newswire via SEAPRWire.com) – Society Pass Inc (SoPa) (NASDAQ: SOPA), a leading Southeast Asian loyalty and ecommerce ecosystem, today announced completion of restructuring Leflair’s Vietnam operations, spinning-off Leflair Group (LFG) as an integrated lifestyle retail ecosystem in Southeast Asia’s US$100B+ retail market. SoPa has also appointed Loic Gautier as the Chief Executive Officer of LFG. Ngo Thi Cham, Vietnam Country Head of SoPa and current Managing Director of Leflair, will become LFG’s Chief Operating Officer and work alongside Loic in driving the business through to the next stage.
As a result of this corporate restructuring, the Leflair Group is set to become Southeast Asia’s next lifestyle retail super distributor nexus, evolving from a single discounted platform to a lifestyle retail ecosystem, providing shoppers with an integrated and unique shopping experience from online to offline. LFG will continue to pursue company acquisitions in the e-commerce, lifestyle retail and online advertising verticals.
Ray Liang, CFO of SoPa Group, commented, “After the IPO of SoPa last year, we have been working on a new strategy for Leflair, in order to maximize its potential as a destination for lifestyle shopping in Southeast Asia. To facilitate this, we are happy to welcome back Loic Gautier as Group CEO, joining our executive team and becoming the driving force of Leflair Group in the future. At SoPa, hiring key talent is among our top priorities, and we always welcome Leflair’s old talents to return, and work with the team to carry LFG to new heights. Having Loic return as the CEO of Leflair Group ensures continuous and sustainable growth for Leflair in the years to come. The new recruitment also enables us to carry out larger plans for Leflair, evolving from a single online platform to become a true ecosystem for lifestyle shopping.”
Since its IPO on the Nasdaq last year, SoPa has focused on M&A activities to expand the ecosystem with other online platforms across 6 verticals: lifestyle, F&B, travel, digital media, and B2B software and loyalty technology in the top three V.I.P countries of Southeast Asia – Vietnam, Indonesia, and Philippines. Through these business lines, SoPa improves the interconnectedness and support within its ecosystem, fulfilling its mission to connect thousands of registered merchants with millions of registered consumers across Southeast Asia.
With this appointment, Gauthier will be responsible for managing LFG’s growth and expanding the Leflair platform to other Southeast Asian countries, as well as managing future acquisitions which expand group activity into complimentary segments within the lifestyle retail industry.
As CEO of the new Leflair Group, Loic said, “It’s an honor to receive SoPa’s trust. With this spin-off, Leflair now has a new medium to maximize its full growth potential. By pivoting from a single platform to an integrated lifestyle retail ecosystem, we seek to connect all players within the lifestyle retail value chain, from brand distributors, to offline stores, ecommerce platforms and delivery companies. The new vision makes Leflair a pioneer in redefining the lifestyle and ecommerce retail market across Southeast Asia.”
According to Gauthier, LFG is working on ambitious plans for the period ahead aimed at M&A, and attracting capital on the road to IPO.
About Society Pass
Society Pass (SoPa) (NASDAQ: SOPA) is a leading loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across markets: F&B, travel, digital media, and B2B software and loyalty technology. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. Since inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with leading-edge applications to effectively scale and support Platform consumers, merchants, and acquisitions.
SoPa provides merchants with SoPa.asia, an online commerce platform for users; #HOTTAB Biz, an order management app for business partners on SoPa.asia; and #HOTTAB POS, a specialized POS technology solution and comprehensive system for payment, loyal customer management, user’s profile analytics, and financial support packages for small and medium-sized enterprises. These tools attract and retain customers with personalized interaction based on analytics and high profit margins. SoPa operates Leflair.com, Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, and Handycart.vn, a leading online restaurant delivery service in Vietnam. Please visit http://thesocietypass.com.
Based in Ho Chi Minh City, Leflair is Vietnam’s leading lifestyle e-commerce platform for Fashion, Beauty and Home Furnishing products. Launched in December 2015, Leflair was selling more than 2,500 brands via its flash-sales model. SoPa acquired Leflair’s assets in February 2021, relaunching the platform in September 2021, and spun-off into Leflair Group (LFG) in April 2022. For more information, please visit https://leflair.com.
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