2/26/14

Web sales grow 46.2% for LightInTheBox in 2013

Mobile sales grew five times faster than desktop sales.

Jon Love , Associate Editor, Research

Web-only mass merchant LightInTheBox Holding Co. Ltd. announced a 46.2% increase in web sales for 2013. Most of the China-based retailer’s orders are placed outside of China, with more than half of its sales coming from Europe.

For the year ended December 31, LightInTheBox, No. 28 in the Internet Retailer 2014 China 500 reported:

“We are pleased that our total net revenues came in above our guidance, supported by better-than-expected performance from our apparel category and from strong mobile commerce sales,” chairman and CEO Alan Guo says. “We are continuing to build a uniquely positioned, global cross-border, e-commerce platform. As we move into 2014, we will continue to focus on leveraging this platform on behalf of manufacturers and suppliers based in China.”

For the fourth quarter:

Europe remained LightInTheBox’s largest market in Q4 2013, growing 25.1% over the same period in 2012 to $57.7 million and accounting for 65.3% of the retailer’s total revenue in the quarter. North American sales grew 8.6% year-over-year to $13.1 million and accounted for 16.7% of total fourth quarter revenue. “In the fourth quarter, we reignited growth in our apparel category as we successfully diversified our product offerings in ready-to-wear apparel and increased our marketing efforts to overseas regions,” Guo says.

For the first quarter of 2014, LightInTheBox expects revenue to range from $78 million to $80 million, representing an increase of 6% to 9% from the first quarter of 2013.

Topics:

2013 financials, 2013 web sales, alan guo, China 500, Light In the Box, LightInTheBox, LightInTheBox Holding Co. Ltd., Q4, web sales

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