GigaCloud Technology Inc Expands Supplier Diversity, Introducing Three New Markets to its B2B Ecommerce Marketplace
February 27 2024 - 7:30AM
GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the
“Company”), a pioneer of global end-to-end B2B ecommerce solutions
for large parcel merchandise, today announced that suppliers from
new product origins in Colombia, Mexico, and Turkey have joined its
B2B ecommerce platform, GigaCloud Marketplace. This addition
further diversifies the platform’s product offerings and optimizes
global supply chain management.
Three global suppliers have joined the GigaCloud Marketplace as
new 3P sellers, expanding the seller base in new markets and
introducing new SKUs to the platform. Colombia-based Plasticos MQ
will introduce a variety of home products and outdoor furniture,
Krill International Furniture from Mexico will make available an
exclusive collection for sale on the GigaCloud Marketplace, and
Naar Rug, with 45 years of carpet crafting history in Turkey, will
add high-quality rug selections under the store name DECART RUG on
the platform.
For the 12 months ended September 30, 2023, GigaCloud
Marketplace had 741 active 3P sellers and 4,602 active buyers.
GigaCloud Marketplace GMV was $684.8 million in the 12 months ended
September 30, 2023.
“We are excited to join the GigaCloud Marketplace,” said Halliby
Garzon, the international key account manager of Plasticos MQ, “The
platform provides a seamless entry point for overseas sellers,
establishing our nationwide presence with ease. This accessibility
positions us to capture a larger market and seamlessly integrate
into a broader business network. With our products soon to be
available on the platform, we look forward to leveraging this
relationship to enhance our reach and impact within the global B2B
ecommerce landscape.”
“As the shifts in the evolving global supply chain presents
added challenges for resellers, who are the buyers on our
marketplace, diversifying our seller base and incorporating
products from various geographies not only enhance our platform's
adaptability but the robustness of our global supply chain,” said
Larry Wu, Founder, Chairman, and Chief Executive Officer of
GigaCloud. “This strategic move positions GigaCloud as a key player
in global trade, offering diverse supply chain solutions that
empower resellers to source products globally, supported by
comprehensive logistics and fulfillment services to optimize their
procurement efficiency and overall supply chain performance—all at
their fingertips.”
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global end-to-end B2B
ecommerce solutions for large parcel merchandise. The Company’s B2B
ecommerce platform, which it refers to as the “GigaCloud
Marketplace,” integrates everything from discovery, payments and
logistics tools into one easy-to-use platform. The Company’s global
marketplace seamlessly connects manufacturers, primarily in Asia,
with resellers, primarily in the U.S., Asia and Europe, to execute
cross-border transactions with confidence, speed and efficiency.
The Company offers a truly comprehensive solution that transports
products from the manufacturer’s warehouse to the end customer’s
doorstep, all at one fixed price. The Company first launched its
marketplace in January 2019 by focusing on the global furniture
market and has since expanded into additional categories such as
home appliances and fitness equipment. For more information, please
visit the Company’s
website: https://investors.gigacloudtech.com/.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking statements” pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect our current view about
future events. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company’s
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as “may,” “will,” “could,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“propose,” “potential,” “continue” or similar expressions. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s annual report and other filings
with the SEC.
For investor and media inquiries, please contact:
GigaCloud Technology IncEmail:
ir@gigacloudtech.com
ICREmail: GigacloudIR@icrinc.com
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