LAFASO

About LAFASO

LAFASO, which operated the e-commerce site lefeng.com, was an online retailer in China with a focus on cosmetics and fashion products. The company was established in 2008 by Li Jing, a prominent Chinese TV producer and host. Li Jing's background in the media industry was integral to the company's strategy; she founded the TV show production company Ovation Entertainment Ltd. in 2000 and leveraged her own celebrity status and network to promote the platform. This approach created a unique business model that intertwined media with retail, utilizing self-produced beauty and fashion TV shows as a form of advertising for lefeng.com.

The platform initially focused on cosmetics retailing before expanding its offerings to include group-buying, discount sales, and fashion apparel. A key aspect of its market strategy was being among the first to use fashion opinion leaders to influence consumer purchasing decisions. Beyond third-party brands, lefeng.com also featured and sold cosmetics from the founder's own brand and fashion lines from her celebrity connections. The business served a broad female customer base in China, with a significant concentration of users in first- and second-tier cities. Revenue was generated through the online sale of these products. In February 2014, Vipshop Holdings acquired a 75% majority stake in lefeng.com for approximately $132.5 million, aiming to diversify its product offerings and expand its customer reach. Despite plans for it to operate independently, Vipshop announced in August 2019 that it would be ceasing the operations of the lefeng.com website and app as part of a business adjustment to integrate it into Vipshop's main operations.