E-commerce platform for branded items Leflair is anticipated to renew operations below a brand new proprietor in Q3.
The U.S.-based Society Move Integrated introduced Wednesday it had purchased Leflair and different mental properties, together with the area identify, from an organization in Hong Kong.
The revived Leflair will develop operations to different Southeast Asian markets subsequent 12 months, Society Move Inc. stated.
Society Move is an e-commerce startup that makes a speciality of connecting customers with suppliers in Southeast Asia and South Asia. In Vietnam, Society Move presently runs Sopa, an e-commerce platform for meals and drinks and gastronomy, and #Hottab, a provider of options and advertising connections for customers’ information administration.
Leflair was established in 2015 by two French younger entrepreneurs, Loic Gautier and Pierre-Antoine Brun. It acted as an e-commerce platform for branded items and flash gross sales. It didn’t function as an internet market, however labored instantly with manufacturers and official distributors in Vietnam and abroad.
In 4 years ending in 2019, it secured over 120,000 shoppers and made web revenues of tens of hundreds of thousands of {dollars} a 12 months. It ceased operations early 2020. Co-founder and COO of Leflair, Brun, had informed suppliers then that the agency had not settled money owed totaling $2 million.
Society Move stated it has nothing to do with Leflair’s outdated authorized entity in Vietnam as additionally the 2 people who’d co-founded it earlier.