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LightInTheBox and Gati Form Strategic Business Partnership Aimed at E-Commerce Market in India

2017-09-04 18:00
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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.

Related stocks: NYSE:LITB

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