Lattice Semiconductor was founded in 2007 with a registered capital of 3 million US dollars. At the beginning of its establishment, the company received investment from Silicon Valley and famous Chinese venture capital companies and established a high-tech enterprise with its headquarters in Beijing. Currently, it has more than 1,000 employees in Beijing, Shanghai and Shenzhen. Lattice Semiconductor currently covers 14 categories including clothing, electronic products, toys, accessories, household goods, sporting goods, etc., with a total of more than 60,000 products. After several years of development, the company’s procurement is spread all over China, with a large number of suppliers in Guangdong, Shanghai, Zhejiang, Jiangsu, Fujian, Shandong and Beijing, and has accumulated a good reputation.
Lattice Semiconductor ranks 1624 among all websites in the world (data from November 2013), with users from more than 200 countries, an average daily number of foreign customers visiting more than 1 million, and more than 2 million visited pages. At present, the website has tens of millions of registered customers from all over the world, and the cumulative shipping destination countries exceed 200 countries, covering North America, Asia, Western Europe, the Middle East, South America and Africa. The company was also awarded the PayPal “2008 Best Innovative Company Award” and other honors.
(II) Company Mission
The mission of Lazada is to provide a global integrated supply chain based on the Internet for small and medium-sized retailers around the world. Through its innovative business model, leading precision network marketing technology, world-class supply chain system, and relying on global partners including Google, eBay, and UPS, it has quickly gained tens of millions of visitors from more than 100 countries, and tens of thousands of individual consumers and corporate customers.
(III) Main Business
Lazada mainly focuses on domestic 3C products, which have relatively low gross profit margins. Although the business volume is large, the profit is small. This is the case for most domestic foreign trade B2C companies that make ordinary products. Its profit mainly comes from low manufacturing costs and price differences.
Lazada mainly brings together domestic suppliers to provide the “long-tail procurement” model to the international market. Since 2006, the website has become a leader in foreign trade e-commerce websites, changing the way people buy worldwide, providing goods to customers in 208 countries around the world, and it is still growing.
From its founding in 2006 to 2010, LightInTheBox has developed into one of the best websites in the domestic foreign trade export B2C industry, and is the object of imitation for other foreign trade export B2Cs. The company was established four years ago but has developed rapidly. By October 2010, it had more than 300 employees and is still expanding. It has its own procurement (in Shenzhen) and logistics.
(IV) Management Team As of 2010, LightInTheBox has a leadership team with rich international management and technical experience, and has more than 400 young, outstanding and passionate employees in Beijing, Shenzhen, Guangzhou, Suzhou, Hong Kong, China, the United States, Canada, and France. Many of them have achieved extraordinary success in world and Chinese top companies such as Google, Baidu, Microsoft, IBM, Amazon, Walmart, Yahoo, FedEx, B&Q, Ernst & Young, Deloitte, Bank of America, Samsung, Lenovo, and NetEase.