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 www.lightinthebox.com, www.miniinthebox.com and LightInTheBox’s other websites as well as mobile applications, which are available in 23 major languages and cover more than 80.0% of Internet users globally, according to Internet World Stats. LightInTheBox’s innovative data-driven business model allows it to offer customized products at scale through optimal merchandising, marketing and fulfillment. LightInTheBox has built an effective business model allowing it to source many of its products directly from China-based manufacturers where it works closely with them to re-engineer their manufacturing processes to achieve faster time-to-market with a greater variety of products. The Company acquires customers primarily through the Internet and serves them from cost-effective locations in mainland China and Hong Kong.
LightInTheBox targets products where consumers value choice or customization, such as apparel and home and garden products. The Company also offers a wide range of other products from its other general merchandise product category. The Company’ core product categories generally require design specificity, thus giving LightInTheBox more pricing flexibility and allowing it to capture higher margin potentials.
LightInTheBox serves consumers globally without incurring the costs and complexities associated with establishing a traditional multinational retail infrastructure. The Company’s major markets are Europe and North America. LightInTheBox uses global online marketing platforms such as Google and Facebook to reach its consumers, accepts payments through all major credit cards and electronic payment platforms such as PayPal and Global Collect and delivers its goods through major international couriers, including DHL, UPS and EMS.
LightInTheBox believes that being a China-based company provides important advantages in supply chain management. The Company strives to source high quality products directly from some of the most competitive manufacturers in the strongest supply ecosystems. By locating its sourcing offices near some of the most competitive factories, the Company realizes cost advantages and inventory efficiency as it creates effective supplier competition while maximizing the quality of its products in many cases. LightInTheBox’s suppliers benefit from working closely with its in-house manufacturing experts to re-engineer their manufacturing processes to achieve faster time-to-market for its products and enable large scale production of individually customizable products. The Company is also in the process of building out its global supply chain and sourcing strategy.
To acquire and retain customers across diverse geographic markets, LightInTheBox has developed proprietary technologies to manage and optimize its marketing operations. In addition, the Company has established a specialized social marketing team to engage online users and provide them with a user-friendly online shopping experience to facilitate purchasing decisions.
LightInTheBox has developed a proprietary technology platform that integrates every aspect of its business operations, including global marketing, online shopping platforms, supply chain management, fulfillment and logistics and customer service. The Company’s founders have extensive experience and expertise in software development. The Company has made significant investments in software research and development to improve operational efficiency and enable business innovation.