In his new role, Huang will focus on enhancing customer experiences as well as understanding market demand and creating cross-functional initiatives. He will also supervise some brands like Lavazza, Coffii & Joy and Taco Bell, and continue to report to Joey Wat, the company’s CEO.
Wang is succeeding Huang as GM of KFC. He joined the brand in 1998 as an operations management trainee and has held various operations roles within KFC, including as market manager of Hangzhou KFC.
Wang became regional VP of KFC’s field operations in 2015 and was the company’s chief development officer in 2020.
Leflair Group names new CEO and COO after restructuring
Premium e-commerce platform Leflair has announced the return of Loic Gautier as CEO following the company’s acquisition by Nasdaq-listed Society Pass (SoPa).
Vietnam country head of SoPa and current MD of Leflair, Ngo Thi Cham, will work alongside Gautier as the group’s new COO.
Founded by Gautier in 2015, Leflair offers products from more than 2300 luxury brands via a flash-sale model, catering to Vietnam’s growing middle class. The company raised US$12 million in venture capital funding and expanded to the Philippines, Singapore and Hong Kong before filing for bankruptcy in 2020, a victim of the Covid-19 disruption. Leflair was acquired by SoPa and relaunched in Vietnam last September.
“Having Loic come back as the CEO of Leflair Group ensures continuous and sustainable growth for Leflair in the years to come,” said Ray Liang, CFO of SoPa. “The new recruitment also enables us to carry out a bigger plan for Leflair, evolving from a single online platform to become a true ecosystem for lifestyle shopping.”
Gautier will oversee Leflair’s growth and expansion to other Southeast Asian countries while managing upcoming acquisitions to venture into smaller segments within the retail industry.
“With this spin-off, Leflair now has a new medium to maximise its full growth potential,” said Gautier. “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.”
Puma South Korea names new GM
Sportswear brand Puma has appointed Lee Na-young as GM of Puma South Korea, according to the local business newspaper Maeil.
Lee has worked as director of sales and marketing at the company since 2020, overseeing sales, marketing and communication programs to drive overall sales growth. She has more than 20 years of experience in the sports goods industry and F&B.
Before Puma, Lee was marketing director at Reebok and global key account director at Adidas South Korea.
“We will improve our performance and create a new paradigm through aggressive business development that strengthens sales and marketing,” said Lee.
Zilingo CEO suspended amid financial probe
B2B fashion e-commerce firm Zilingo has suspended its CEO, Ankiti Bose, after the company’s capital-raising plan led to questions about its accounting practices, according to Bloomberg.
Bose, who founded Zilingo in 2015 with Dhruv Kapoor, has been suspended until 5 May. The company has 600 employees spread across operations in Australia, Singapore, Indonesia, Hong Kong, Thailand, the Philippines, India and the US.
The suspension came as Zilingo aims to raise US$150-200 million from investors with support from Goldman Sachs Group. Questions were raised about the company’s finances during the due diligence process.
According to Bloomberg, the funding round would increase Zilingo’s valuation to more than $1 billion, if successful. The company secured $226 million in its Series D round in 2019 led by Sequoia Capital and Singapore’s sovereign fund Temasek Holdings.
Sources familiar with the matter said Temasek and Sequoia had raised concerns about Zilingo’s accounts to the company’s board last month. The sources declined to be named due to the sensitivity of the matter.
According to Bloomberg, regulators said the company has not filed annual financial statements since 2019.
“The major investors hired an independent firm to investigate the matter, and the company is working closely with the major investors and the independent firm for the investigation,” Zilingo said, but declined to give specifics.
A lawyer for Bose said she declined to comment on her suspension or the investigation.
Temasek declined to comment, while Sequoia referred to Zilingo’s statement.
Additional reporting by Reuters.