Orchid Pavilion will increase language, consider opening overseas sourcing Center

January 14 News, just completed a purchase case last week, foreign trade, the business of LightInTheBox Pavilion, said recently, 2014 will be in the current 22 language services based on a number of additional languages, and will consider the establishment of procurement centers overseas.

After successful acquisitions of the Seattle social-networking site Ador, the Orchid Pavilion has absorbed two of its top executives and set up its first U.S. office. Guo, its chairman and chief executive, points out that this will bring the orchid pavilion closer to customers and have the opportunity to attract more top talent.

According to the introduction, Orchid Pavilion is now a total of 1200 people, like a small United Nations, a variety of color of talent gathered together. 2013, its "Marco Polo plan" from France, Italy, Spain directly recruit talent to China, in order to consolidate talent reserves, expand the global electricity business map.

With the acceleration of the pace of development, the current Orchid Pavilion is considering the establishment of overseas procurement center, South Korea may become the first set up a point, because Korea in the apparel and accessories industry has many excellent designers. This is very important for the long-term development of the Orchid Pavilion.

In addition, in terms of access to global users, LAN Pavilion's multilingual services have been the forefront of the industry, and now a total of 22 languages for sale. Guo went on to say that the company is also planning to add several languages in 2014, covering more countries and regions of consumers.

Data show that the Orchid Pavilion set was founded in 2007, 98% of the income from overseas users, the main market in Europe and North America. Its lightinthebox, Miniinthebox and other sites to provide a total of hundreds of thousands of independent products, the core category including clothing, home and various accessories. The company was listed on the New York Stock Exchange on June 6, 2013.

However, after the listing of Orchid Pavilion development is not so smooth. According to the Billion power network, the 2013 two quarterly results were released, the Orchid Pavilion is facing a group of U.S. investors lawsuit, the reason is "performance fraud" to mislead investors. At present, the problem remains unresolved. At the end of September 2013 in the third quarter, the Orchid Pavilion set potential net loss of 2.4 million U.S. dollars, and the loss margin continues to expand.

Faced with a lot of problems, Orchid Pavilion set to start looking for countermeasures. Previously, the Orchid Pavilion set to increase the rapid growth of small accessories and jewelry business set up a special website, but also launched a flash business. To boost confidence, in mid-December 2013, the Pavilion announced that the board had approved a stock repurchase plan to buy up to $20 million worth of American depository stocks before December 15, 2014.