GigaCloud Technology Inc Launches New Service

Delivering Branding-as-a-Service “BaaS” Program

EL MONTE, Calif., April 04, 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 the launch of its industry-first service, “Branding-as-a-Service” or “BaaS”. Designed to enhance the competitiveness of furniture suppliers, the GigaCloud BaaS Program selects and allows Sellers in the B2B GigaCloud Marketplace to sell products under one of the leading American furniture brands, Christopher Knight Home.

Functionality of the BaaS Program

The BaaS Program allows Sellers, who are typically furniture suppliers or manufacturers, to sell and distribute the approved product SKUs under the brand. Through a per-SKU approval process, qualified Sellers will be able to sell the branded products for a designated fee. GigaCloud sets out the product development and quality control standards and oversees the brand management, fulfillment, and marketing and promotion of the branded products.

“The furniture industry faces unique challenges when it comes to brand establishment. Infrequent purchases and slow brand value accumulation hinder Sellers from building strong brand identities,” said Marshall Bernes, Head of the BaaS Program, former Chief Executive Officer of Noble House Home Furnishing LLC, and an industry veteran with more than 30 years of experience in home furnishing. “The BaaS Program is an innovative solution to address these hurdles head-on. It provides Sellers with access to a renowned furniture brand and allows them to offer high-quality products that resonate with consumers. They can now leverage an established brand to attract Buyers and differentiate themselves in a competitive market. We see even more potential for growth moving forward – collaborations with additional brands that have different positioning will offer Sellers more exciting opportunities.”

The GigaCloud Advantage

Through the BaaS Program, GigaCloud provides guidance, expertise, and resources needed to elevate Seller’s brand identity and quality standards – offering a unique opportunity to work with a nation-renowned brand. Supported by the Supplier Fulfilled Retailing model with its end-to-end supply chain management and quality control, BaaS Program participants can leverage the Company’s B2B Marketplace, fulfillment capabilities, and established customer base to accelerate growth, streamline efficiency, and expand market reach.