Strategic Partnership Officially Announced Between Acclaimed China Internal Furniture Fair (Shanghai) and Giga Cloud Logistics

CITY OF INDUSTRY, Calif., June 10, 2020 /PRNewswire/ -- On June 2^nd, the world-renowned China International Furniture Fair (Shanghai) (CIFF) and Giga Cloud Logistics came together in the walls of the Shanghai International Convention Center to sign an agreement that marked the advent of the official strategic partnership between the two business entities with Giga Cloud Logistics becoming the sole Business-to-Business marketplace backed by CIFF.

CIFF(Shanghai), a widely known international exhibition dedicated to the furniture industry is hosted by the China Foreign Trade Centre (Group), China Chamber of Commerce for Import and Export of Light Industrial Products and Arts-Crafts, China Furniture & Decoration Chamber of Commerce and other highly acclaimed government institutions. With a prominent reputation both at home and abroad, the 46^th annual CIFF(Shanghai) event will be held at the National Exhibition & Convention Center, Hongqiao, Shanghai in Summer 2020 from September 7-10. Roughly 1,500 domestic and overseas furniture brands that make up a majority of the industry chain flock to the CIFF(Shanghai) exhibition annually, with the event being known to garner a guest list of over 150,000 professionals from around the world. One of the latest ventures of CIFF(Shanghai) is to play a role in the collective upgrade of the widespread 'Made in China' narrative that has been a hallmark within the development of the industry and overall consumer market, in favor of a shift towards phrases such as 'Designed in China' and 'Innovated in China'.

Giga Cloud Logistics is making its mark as a multinational big and bulky goods trade marketplace with a strong financial backing which include investments from industry giants such as DCM and Red Star Macalline. Giga Cloud Logistics positions itself as a key resource in helping connect China based wholesalers with retailers utilizing a new cutting edge digital commerce model. Currently, Giga Cloud Logistics operates in the United States, United Kingdom, Germany and Japan and has attracted over 2,500 resellers around the world. Accumulating a high volume of consumer interest within just 16 months after its initial launch, Giga Cloud Logistics now amasses over 14 million dollars in turnover in a single month. The company continues to thrive despite the worldwide pandemic that has impacted the global economy, with its Giga Cloud Marketplace experiencing consistent and rapid growth in site transactions, most notably in its first quarter.

With manufacturing costs steadily rising in China, over the recent years an increasing amount of home goods companies are beginning to explore the idea of venturing beyond simply manufacturing, through upgrading their business models with market research and the creation of their own brands. These aspirations however are met with a series of challenges including longer production cycles, high volumes of product categories and expensive fulfillment costs, causing suppliers to struggle with navigating sales channels and meeting industry fulfillment capacity requirements.

Concerning CIFF's stance in this dilemma, Huawei Yang, director at CIFF states "Within this current environment with the pandemic impacting the global economy, almost all exhibitions have been canceled. Warehousing and logistics networks in the overseas market are experiencing high levels of uncertainty, while manufacturers in China are facing challenges that they never have before. CIFF at this time has taken on the role of being a safe space for all Chinese home goods manufacturers to gather and face these newfound challenges together. CIFF will provide solutions for these home goods companies that can help them find a way to survive these challenging times and further develop during this unique period."

Having now partnered with CIFF, Giga Cloud has high hopes in working towards setting a new standard for Chinese manufacturers doing business overseas, with Giga Cloud Logistics CEO Larry Wu commenting, "The strategic corporation with CIFF at this time is aiming to build an efficient and seamless international trading bridge for Chinese home goods companies. Its primary goal is to offer more up-to-date market resources, transaction tools and fulfillment services for companies that are expanding abroad. Giga Cloud provides our signature 'Cloud Wholesale Fulfillment', 'Cloud Warehousing' and 'Flat Rate Delivery' services, all of which solve the fundamental pain points that are experienced by these manufacturing companies during cross-border transactions. Giga Cloud Logistics provides an all-in-one inventory system and flat rate logistics network that allows companies to obtain accurate and clear information, helping them drastically improve their overall efficiency and capabilities. In the current environment with the epidemic that is impacting the market, Giga Cloud Logistics is offering a highly beneficial marketplace that is allowing Chinese companies to do business overseas and getting the benefits of attending tradeshows without having to leave home. We believe that our corporation at this time will without a doubt set a new industry benchmark for Chinese home goods enterprises exploring overseas markets."

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SOURCE Giga Cloud Logistics