BEIJING, Oct. 20, 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
the launch of tailor made Arabic language websites for customers in
the Gulf Cooperation Council ("GCC") on both LightInTheBox.com and
MiniInTheBox.com as well as a cash on delivery payment option. The
websites will provide a better shopping experience to Arabic
speaking customers and localized products for the region.
According to Statista.com, e-commerce transactions in the
Middle East are expected to grow
at the faster pace than any other region in the world reaching
US$20 billion by 2020. Cash on
delivery remains the most popular payment option for e-commerce,
accounting for over 70% of all online transactions in the GCC. The
cash on delivery payment option is currently only available for
customers in Saudi Arabia and the
United Arab Emirates and will
gradually become available to other GCC countries in the near
future. LightInTheBox has formed strategic business partnerships
with a number of top local logistics and warehousing service
providers to further reduce delivery times and improve customer
satisfaction.
"We are committed to fulfilling our mission of making good
products accessible to global customers at affordable prices,"
commented Mr. Alan Guo, Chairman and
CEO of LightInTheBox. "The Middle
East forms an integral part of the global economy and we are
proud to be able to serve our customers there in the best possible
way. Leveraging our extensive experience in big data analytics,
online marketing, supply chain management, and overseas logistics
and warehousing, we are ideally positioned to serve millions of
Arabic speaking customers with a simplified cross-border e-commerce
shopping experience and a wide variety of select high-quality
products."
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 covers
more than 90% of global Internet users.
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.