GigaCloud Technology Inc Expands Global Fulfillment Network to Support Continued Growth of Its B2B Marketplace

Surpasses 10 Million Square Feet in Fulfillment Operations, Marking a 169% Increase and Enhancing Support for Marketplace Buyers and Sellers

EL MONTE, Calif., April 30, 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 its global fulfillment network has surpassed 10 million square feet of total space following the signing of a new lease in Ontario, California. This expansion strengthens GigaCloud's ability to support the continued growth of its B2B marketplace and deliver enhanced fulfillment support to its B2B marketplace participants.

The new Ontario fulfillment center, spanning approximately 562,100 square feet, is set to commence operations in July 2024. With this latest addition, GigaCloud’s global fulfillment network, comprising strategically positioned fulfillment centers and other facilities designed for efficient inventory management and order fulfillment, expands to 42 locations with over 10.5 million square feet — an increase of 169% from approximately 3.9 million square feet as of March 31, 2023. Since then, GigaCloud has doubled its facilities and expanded into five additional key global areas, establishing a vast and optimized infrastructure framework with presence in the U.S., the U.K., Germany, Canada, and Japan.

“GigaCloud is a valued customer who has leased eight Prologis facilities in the U.S.,” said Kevin Apel, Senior Vice President at Prologis, the global leader in logistics real estate and the owner of GigaCloud's Ontario fulfillment center. “Since just last September, GigaCloud has expanded into five of Prologis' facilities, totaling over 2.5 million square feet. We are proud to be a partner and look forward to supporting their continued growth in the future."

“This expansion reflects the continued growth and high demand of our marketplace, which has created a new way to trade large parcel goods virtually across the globe,” said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. “Our Supplier Fulfilled Retailing model revolutionizes the traditional B2B ecommerce by streamlining every step of the supply chain. The Company’s in-house algorithms continuously optimize infrastructure and operations efficiency, delivering end-to-end fulfillment solutions for marketplace participants. We partner with logistics providers to ensure a streamlined fulfillment process within our marketplace ecosystem. Our self-operated facilities are a vital part of this seamless experience. This latest fulfillment center contributes to the continued expansion of our infrastructure capabilities, ensuring our sustained delivery of efficient and scalable solutions to our thriving marketplace community.”