GigaCloud Technology Inc Expands Supplier Diversity, Introducing Three New Markets to its B2B Ecommerce Marketplace

New global suppliers to offer additional range of furniture and home products to GigaCloud B2B Marketplace

EL MONTE, Calif., Feb. 27, 2024 (GLOBE NEWSWIRE) -- 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.”