Leflair, an ecommerce site operating in Vietnam, announced today, January 14, that it had received US$7 million in investment from two investment funds: South Korea’s GS Shop and Cambodia’s Belt Road Capital Management.

Loic Gautier (R) and Pierre-Antoine Brun, two founders of Leflair - PHOTO: LEFLAIR

The investment has brought the company’s total funding to US$12 million. In January last year, Leflair attracted an investment of US$3 million.

This is the first time GS Shop, a subsidiary of GS Group as one of the largest conglomerates in South Korea, has made a direct investment in a startup in Vietnam. Meanwhile, Belt Road Capital Management focuses on small and medium enterprises.

Loic Gautier, cofounder and CEO of Leflair, said it will use the investment to intensify the strategic partnership with GS and increase the volume of Korean commodities distributed on Leflair.vn.

Specifically, the firm will recruit more staff in the fields of storage, delivery and technology to make the partnership a success.

In addition, it plans to cooperate with more brands, especially those in South Korea and Japan, to diversify its products.

Leflair’s ultimate plan is to expand its operations to other Southeast Asian markets this year, Gautier added.

Founded in December 2015, Leflair has since opened representative offices in Vietnam, Singapore and Hong Kong.

SGT