BEIJING, Nov. 9, 2016 /PRNewswire/ -- LightInTheBox Holding Co., Ltd.(NYSE: LITB) ("LightInTheBox" or the "Company"), a global online retail company that delivers products directly to consumers around the world, today announced that it has launched a cloud-based enterprise resource planning ("ERP") Software-As-A-Service ("SaaS") solution for online and offline distribution companies.
The cloud-based ERP solution was developed on top of the Company's self-developed and proprietary ERP system, which has been used by LighInTheBox over the past eight years and has gone through multiple iterations. The ERP solution is web-based, easily configured, requires no installation and comes with fully self-serving registration. Designed for both online and offline distribution companies including both retail and wholesale, the newly launched system comes with a full spectrum of management solutions to facilitate order management, procurement management, product category management, supplier management, and inventory management. It is designed for both small and large distribution companies that handle millions of orders per year and manage thousands of suppliers. Built using open source software and database stacks; it can easily be deployed on a number of major cloud platforms such as Amazon AWS.
LightInTheBox launched the Chinese version today and deployed it through Amazon AWS's China data center. The Company expects to launch an English language version for international users later this year. The ERP solution is free of charge for small to medium-enterprises ("SME") with a larger, private, cloud-based solution for large enterprise users in need of higher levels of data isolation.
"Our ERP system has gone through multiple iterations and rigorous testing over the past eight years that we have using it in our own operations, and is very suitable for both online and offline distribution companies" commented Mr. Alan Guo, CEO of LightInTheBox. "It is easy to understand and use, and with a cloud based SaaS model, we will offer it for free to SMEs to demonstrate how innovative and disruptive our ERP solution is to the distribution industry. With an initial focus on the Chinese market, where many SME distribution companies have never used ERP software in the past due to cost and their complexity, we will soon launch an international version to reach customers across the globe. We are very excited about its disruptive market potential and are very proud to see the platform being adopted by such a broad spectrum of companies."
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 27 major languages and cover more than 80% of global Internet users.
For more information, please visit www.lightinthebox.com.
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
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Ms. Linda Bergkamp
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SOURCE LightInTheBox Holding Co., Ltd.