Research Desk Line-up: Lands' End Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for LightInTheBox Holding Co., Ltd (NYSE LITB), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=LITB. The Chinese online retail Company announced on September 04, 2017, that it has formed a strategic partnership with Gati Ltd to capture a share of the growing ecommerce market in India by providing attractive products from China. Gati will become the Company's first key local business partner in India. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Catalog & Mail Order Houses industry. Pro-TD has currently selected Lands' End, Inc. (NASDAQ: LE) for due-diligence and potential coverage as the Company announced on August 31, 2017, its financial results for Q2 FY17 which ended on July 28, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Lands' End when we publish it.
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Scope of the Strategic Partnership
As per terms of the partnership, LightInTheBox will source high-quality products from its extensive supply chain network in China and offer them to online shoppers in India. Gati will provide local logistics and supply chain solutions for LightInTheBox customers in India. Gati's customized cross-border logistics solutions between China and India will enable the delivery of LightInTheBox parcels to India at improved speed, reliability, and cost.
The partnership between the two Companies will also cover other areas of joint initiatives viz. online payment solutions, big data analytics, and general business development as well as local warehousing and fulfillment solutions in India. These joint initiatives are aimed to help in the reduction of delivery times and at the same time improve the levels of customer satisfaction. The strategic partnership also sees the integration of LightInTheBox's global cross-border open logistics platform - LanTing ZhiTong with Gati's logistics and warehousing network. This integration will allow Chinese merchants to access the Indian market quickly and with ease.
Commenting on the strategic partnership with Gati, Alan Guo, Chairman and CEO of LightInTheBox said:
"We are very excited to begin working with Gati, whose strong local resources and knowledge will greatly help expand our presence in the market. I believe this strategic partnership demonstrates our localized strategy approach to the Indian market and our commitment to improve the customer experience."
Dhruv Agarwal, Chief Strategy Officer of Gati Limited commented:
"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
Beijing, China based LightInTheBox is a global online retail Company that delivers products directly to consumers in over 200 countries and territories across the world. Customers can use the Company's websites and other websites as well as mobile applications available in 23 major languages to shop for a wide variety of products which are available at attractive prices. The Company's websites and mobile applications cover more than 90% of global Internet users. The Company sources many of its products directly from China-based manufacturers which gives it the opportunity to offer customized products at scale through optimal merchandising, marketing, and fulfillment.
About Gati Ltd
Hyderabad, India based Gati is India's pioneer in Express Distribution and Supply Chain Solutions, and the Company was founded in 1989. It started as a cargo management Company and has now grown into a Firm that offers complex business solutions in Air & Surface Distribution, ecommerce logistics, Warehousing, e-fulfillment, Freight Forwarding, and Cold Chain. Its distribution network covers 672 out of total 676 districts in India and has the capacity to deliver over 6 million packages a month. Gati is supported by a strong fleet of 5000 plus vehicles including refrigerated vehicles and world class warehousing facilities at strategic locations across India. The Company has a strong market presence in the Asia/Pacific region and South Asian Association for Regional Cooperation (SAARC) countries with offices in India, Singapore, Hong Kong, China, Nepal, and Thailand.
The Company has a strong workforce of over 6000 employees, over 4000 business partners, and over 3,100 Gati Business Associates. Gati has an annual turnover of Rs. 15,273 million.
Last Close Stock Review
On Tuesday, September 05, 2017, the stock closed the trading session at $2.64, slipping 1.49% from its previous closing price of $2.68. A total volume of 3.63 thousand shares have exchanged hands. LightInTheBox's stock price rallied 12.34% in the past three months. The stock currently has a market cap of $181.26 million.
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