As part of a plan to cut costs by $500 million, Staples says it plans to close up to 225 North American stores by ...
Chinese e-retailer LightInTheBox buys a U.S. online fashion site
Ador, an offshoot of Lockerz.com, calls itself an online “fashion magazine” that alerts shoppers to trends and pricing. Beijing-based LightInTheBox sells goods to online shoppers outside of China.
LightInTheBox Holding Co. Ltd., an e-commerce operator based in Beijing, has bought Ador Inc., a Seattle-based social e-commerce company that bills itself as “Your Shoppable Fashion Magazine.” LightInTheBox did not say how much it paid for Ador.
The web-only LightInTheBox focuses on selling to consumers outside of China. About half of its sales come from consumers in Europe, with North America accounting for nearly a quarter and the rest stemming from Latin America and other countries, according to documents it released last year in preparation for its initial public offering, which raised $79 million for the company last June. The e-retailer’s biggest product category was apparel, followed by electronics and communications devices.
LightInTheBox stands at No. 177 in Internet Retailer’s Europe 500. The mass merchant launched in 2006, according to the research-and-rankings guide.
“The establishment of a U.S. office for LightInTheBox through this transaction brings us closer to our customers, and provides us the opportunity to acquire an extremely talented team,” says LightInTheBox chairman and CEO is Quji “Alan” Guo.
Ador is an offshoot of Lockerz.com, an invitation-only site that generates revenue from both e-commerce and advertising. Ador's CEO Mark Stabingas joins LightInTheBox as president and Ador chief technology officer Quinten Shay becomes a senior vice president for the Chinese company. Stabingas worked at Amazon.com Inc., No. 1 in the Internet Retailer Top 500 Guide, until Lockerz hired him in 2011.