LightInTheBox Holding Co Ltd
NYSE:LITB
LightInTheBox Holding Co Ltd
LightInTheBox Holding Co., Ltd. engages in the online retail sale and distribution of consumer products. The company is headquartered in Beijing, Beijing. The company went IPO on 2013-06-06. The firm offers a range of products through www.lightinthebox.com, www.miniinthebox.com and its other Websites, as well as mobile applications, which are available in approximately 30 languages. The company has over 687,800 product listings. The firm also offers a range of other products in its other general merchandise product category. Its major markets are Europe and North America. The firm's product offerings include apparel and other general merchandise. Its apparel category includes customized, special occasion apparel and fast fashion. Its other general merchandise category includes small accessories and gadgets, home and garden, electronics and communication devices and other products. The firm has additional Websites for specific products and geographic regions, including www.ouku.com for products targeting its Chinese customer base.
LightInTheBox Holding Co., Ltd. engages in the online retail sale and distribution of consumer products. The company is headquartered in Beijing, Beijing. The company went IPO on 2013-06-06. The firm offers a range of products through www.lightinthebox.com, www.miniinthebox.com and its other Websites, as well as mobile applications, which are available in approximately 30 languages. The company has over 687,800 product listings. The firm also offers a range of other products in its other general merchandise product category. Its major markets are Europe and North America. The firm's product offerings include apparel and other general merchandise. Its apparel category includes customized, special occasion apparel and fast fashion. Its other general merchandise category includes small accessories and gadgets, home and garden, electronics and communication devices and other products. The firm has additional Websites for specific products and geographic regions, including www.ouku.com for products targeting its Chinese customer base.
Revenue Drop: LightInTheBox's Q3 2024 revenue fell 63% year-over-year to $57 million, mainly due to tough e-commerce competition.
Margin Focus: Despite lower revenue, the company shifted strategy to protect margins and improve profitability rather than chase market share.
Ador Launch: The launch of Ador.com, a new direct-to-consumer apparel brand, is driving higher margins and positive early customer response.
Cost Cuts: Total operating expenses were reduced by 63%, matching the revenue decline, through enhanced efficiency.
Profitability Maintained: Net income was $0.3 million for the quarter, slightly above last year's $0.1 million, and adjusted EBITDA held steady at $0.8 million.
Service Expansion: LightInTheBox is broadening its business to offer e-commerce services like advertising, supply chain, and payment solutions.
