Society Pass spins-off Leflair into Leflair Group, appoints Group CEO; to become next Super Distributor Nexus in SEA's Lifestyle Retail Ecosystem
Society Pass Inc (SoPa) has restructured Leflair's Vietnam operations, spinning-off Leflair Group as an integrated lifestyle retail ecosystem for Southeast Asia's 100B+ USD retail market.
- SoPa also announces the appointment of Loic Gautier, Co-founder and Former CEO of Leflair, as Leflair Group CEO, and Ngo Thi Cham, Vietnam Country Head of SOPA, as Leflair Group COO.
- As CEO of Leflair Group, Loic will be responsible for managing Group P&L, sourcing and acquisitions to enlarge the Leflair ecosystem, expanding across Southeast Asian markets.
Society Pass Inc (SoPa), a leading Southeast Asian loyalty and ecommerce ecosystem, today announced the completion of restructuring Leflair's Vietnam operations with the spin-off of Leflair Group (LFGroup). Along with this restructuring, SoPa has appointed Loic Gautier as Chief Executive Officer of the new Leflair Group. Ngo Thi Cham, Vietnam Country Head of SoPa and current Managing Director of Leflair, will become Leflair Group's Chief Operating Officer and work alongside Loic in driving the business towards its next stage of growth.
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. The Leflair Group will continue to pursue acquisition of companies 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 Leflair 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, Philippines. Through these business lines, SoPa improves the interconnectedness and support within its ecosystem, fulfilling its mission to connect millions of registered consumers with thousands of registered merchants across Southeast Asia.
With this appointment, Loic will be responsible for managing Leflair Group's growth and expansion strategy, introducing the Leflair platform to other Southeast Asian countries, as well as managing future acquisitions to expand group activity into other smaller 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 Loic, Leflair Group is working on ambitious plans for the period ahead, aiming for extensive funding rounds and a roadmap to IPO in the near future. To learn more, please visit websites Society Pass and Leflair.