BEIJING, April 4, 2018 /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 signed a strategic distribution agreement with Xiaomi, a leading global technology leader, to sell a full array of Xiaomi products in North America. This agreement marks Xiaomi's first cross border e-commerce distribution partnership in North America.
According to the terms of the strategic distribution agreement, LightInTheBox will officially begin selling a full array of Xiaomi's products in North America with immediate effect. Customers who buy Xiaomi products through LightInTheBox platforms will also receive local customer support from Xiaomi.
Mr. Alan Guo, Chairman and CEO of LightInTheBox, commented, "We are excited to partner with Xiaomi in distributing their products across North America. Xiaomi's strong brand name and innovative products will attract new customers to our platform, as we believe that American consumers are always on the lookout for high-quality, well-designed products at incredible prices."
Mr. Qingwei Yan, Director of North America Business, Xiaomi commented, "We are glad to partner with LightInTheBox in leveraging their strong overseas online market presence and local networks. We believe with LightInTheBox's help, we will be able to attract new customers across North American markets and introduce them to our innovative products."
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.
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 cover more than 80% of global Internet users.
For more information, please visit www.lightinthebox.com.
Xiaomi was founded in 2010 by serial entrepreneur Lei Jun based on the vision "innovation for everyone". The company believes that high-quality products built with cutting-edge technology should be made accessible to everyone. Xiaomi creates remarkable hardware, software, and Internet services for and with the help of our Mi fans. Xiaomi incorporates their feedback into its product range, which currently includes Mi and Redmi smartphones, Mi TVs and set-top boxes, Mi routers, and Mi Ecosystem products including smart home products, wearable and other accessories. With presence in over 70 countries and regions, Xiaomi is expanding its footprint across the world to become a global brand.
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