Summary by Futu AI
LightInTheBox reported Q3 2024 total revenues of $57 million, down 63% YoY, as the company prioritized margin preservation over market share. Despite revenue decline, gross margin improved to 61% from 60% YoY, while net income increased to $0.3 million from $0.1 million. Operating expenses decreased 63% to $34 million through effective cost management.The company launched Ador.com, a new proprietary women's clothing brand targeting the 35-55 age group, marking its strategic transformation from an e-commerce retailer to a brand-focused apparel designer. Ador operates design studios in both the U.S. and China, including a boutique in Campbell, California, offering designer-quality apparel at competitive prices through a direct-to-consumer model.The company is expanding its product lines into niche markets with women's golf apparel and men's clothing. Management remains committed to investing in Ador's growth through product expansion and design innovation, focusing on high-quality development and shareholder value creation.
