BEIJING, Sept. 4, 2017 /PRNewswire/ -- LightInTheBox
Holding Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"),
a global online retail company that delivers differentiated
products directly to customers around the globe, today announced
that it has formed a strategic business partnership with Gati,
India's pioneer in express
distribution and supply chain solutions, aimed at providing
localized logistics and supply chain solutions for LightInTheBox
customers in India in order to
further capture India's rapidly
growing e-commerce market with attractive consumer products from
China. Gati will become
LightInTheBox's first key local business partner in India.
LightInTheBox will leverage its extensive supply chain network
in China to provide high quality
products at attractive prices to over 100 million Indian online
shoppers using Gati's pan Indian expertise in logistics and
warehousing to simplify the cross-border e-commerce shopping
experience for Indian customers. Gati's customized cross-border
logistics solutions between China
and India will significantly
improve the speed, reliability, and cost of delivery of
LightInTheBox parcels to India.
Both companies will jointly explore online payment solutions, big
data analytics, and general business development initiatives as
well as local warehousing and fulfillment solutions in India to further reduce delivery times and
improve customer satisfaction. In addition, LanTing ZhiTong,
LightInTheBox's global cross-border open logistics platform, will
be integrated within Gati's logistics and warehousing network
providing online Chinese merchants with quick and easy access to
the Indian market.
"We are very excited to begin working with Gati, whose strong
local resources and knowledge will greatly help expand our presence
in the market," commented Mr. Alan
Guo, Chairman and CEO of LightInTheBox. "I believe this
strategic partnership demonstrates our localized strategy approach
to the Indian market and our commitment to improve the customer
experience."
Mr. Dhruv Agarwal, Chief Strategy
Officer of Gati Limited, added, "This is a key partnership for Gati
and through our strong network and infrastructure we will help
bring a large range of global products to customers across
India."
About LightInTheBox Holding Co., Ltd.
LightInTheBox is a global online retail company that delivers
products directly to consumers around the world. The Company offers
customers a convenient way to shop for a wide selection of products
at attractive prices through its www.lightinthebox.com,
www.miniinthebox.com and other websites and mobile
applications, which are available in 23 major languages and cover
more than 90% of global Internet users.
About Gati Limited
Gati Limited (www.gati.com) is a pioneer and leader in
Express Distribution and Supply Chain Solutions in India and delivers over 6 million packages a
month. Gati started in 1989 as a cargo management company and
expanded to serving complex business solutions in Air & Surface
Distribution, e-Commerce logistics, Warehousing, eFulfilment,
Freight Forwarding and Cold Chain. Gati has now grown into an
organization with more than 5,000 business partners and a network
reach of 672 out of total 676 districts in India. Gati has a 5000 plus strong fleet
including refrigerated vehicles and world class warehousing
facilities across India. Gati has
a strong market presence in the Asia
Pacific region and South Asian countries. Gati has offices
in India, Singapore, Hong
Kong, China, Nepal and
Thailand.
Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets" and similar statements. Among other things, statements
that are not historical facts, including statements about
LightInTheBox's beliefs and expectations, the business outlook and
quotations from management in this announcement, as well as
LightInTheBox's strategic and operational plans, are or contain
forward-looking statements. LightInTheBox may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the "SEC"), in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third
parties. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following:
LightInTheBox's goals and strategies; LightInTheBox's future
business development, results of operations and financial
condition; the expected growth of the global online retail market;
LightInTheBox's ability to attract customers and further enhance
customer experience and product offerings; LightInTheBox's ability
to strengthen its supply chain efficiency and optimize its
logistics network; LightInTheBox's expectations regarding demand
for and market acceptance of its products; competition;
fluctuations in general economic and business conditions and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in
LightInTheBox's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and LightInTheBox does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Christensen
Ms. Xiaoyan Su
Tel: +86 (10) 5900 3429
Email: ir@lightinthebox.com
OR
Christensen
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE LightInTheBox Holding Co., Ltd.