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.
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
Ms. Xiaoyan Su
Tel: +86 (10) 5900 3429
Ms. Linda Bergkamp