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., 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.
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