Society Pass Inc. (SoPa), a leading Southeast Asian loyalty and e-commerce ecosystem, 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.
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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.
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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 complementary 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, e-commerce platforms and delivery companies. The new vision makes Leflair a pioneer in redefining the lifestyle and ecommerce retail market across Southeast Asia.”
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