EL MONTE, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) ("GigaCloud” or the "Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced it is donating more than $1 million in home furnishings to Habitat for Humanity Greater Los Angeles to support the ReBUILD LA™ Wildfire Recovery campaign. The donation will directly benefit families who have lost their homes, helping them rebuild their lives with dignity and comfort.
"Los Angeles is our home, and when people in our community lose their homes in disasters like wildfires, it impacts all of us,” said Larry Wu, Founder, Chairman, and Chief Executive Officer. "We are committed to doing everything in our power to help families rebuild their lives with dignity and comfort. Through our donation of over $1 million worth of furniture to Habitat for Humanity Greater Los Angeles, we aim to provide essential home furnishings and restore a sense of normalcy for those who have lost so much. GigaCloud stands with our community-as neighbors and as a company that cares.”
GigaCloud's donation includes nearly 90 SKUs totaling over 5,000 items, featuring a diverse range of indoor living furniture such as beds, mattresses, sofas, and chairs. The contribution also includes a significant number of ottomans and dressers, ensuring a wide variety of pieces to enhance functionality.
Recognizing that mattresses were among the most urgently needed items and that they were not in stock at the time, the Company took action by reaching out to Restonic-a leading mattress supplier and recently onboarded GigaCloud B2B Marketplace seller-to purchase $150,000 worth of mattresses specifically for donation.
"When GigaCloud reached out to us about the urgent need for mattresses among those impacted by the wildfire, their dedication to truly helping the community was evident,” said Laurie Tokarz, President of Restonic. "Instead of simply donating what was available, they made it a priority to source exactly what families needed most. At Restonic, providing comfort and support is at the heart of what we do, and we are honored to partner with GigaCloud and Habitat for Humanity Greater Los Angeles to help families rebuild their homes and lives.”
GigaCloud's deep ties to the Los Angeles community extend beyond this initiative. Under the leadership of Wu, who was recognized as an Entrepreneur Of The Year® 2024 Greater Los Angeles Award winner by Ernst & Young LLP in 2024, the Company has consistently supported local causes, including ongoing donations to City of Hope and other community initiatives.
The ReBUILD LA™ Wildfire Recovery campaign was created to support uninsured, underinsured, and low-income families impacted by wildfires. The campaign focuses on providing assistance with rebuilding and relocation to ensure families have safe and stable housing. Additionally, it offers essential home furnishings and supplies to help create new living spaces, as well as temporary rental and mortgage assistance for families whose homes are uninhabitable.
"We are incredibly grateful to GigaCloud Technology for their generosity and shared commitment to rebuilding lives and restoring hope,” said Erin Rank, president and CEO of Habitat for Humanity Greater Los Angeles. "Their donation will provide families with essential home furnishings as they begin anew after the devastation of wildfires.”
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company's B2B ecommerce platform, the "GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company's global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer's warehouse to the end customer's doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company's website: https://www.gigacloudtech.com/.
About Habitat for Humanity of Greater Los Angeles
Habitat for Humanity of Greater Los Angeles (Habitat LA) transforms neighborhoods throughout greater Los Angeles by bringing the community together to build affordable homes, provide critical home repairs and help families rebuild after natural disasters. Habitat LA strengthens families through helping them access affordable loans, housing counseling and down-payment assistance. For more information about Habitat LA visit https://www.habitatla.org/.
Forward-Looking Statements
This press release contains "forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may,” "will,” "could,” "expect,” "anticipate,” "aim,” "estimate,” "intend,” "plan,” "believe,” "is/are likely to,” "propose,” "potential,” "continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
GigaCloud Technology Inc
Investor Relations
PondelWilkinson, Inc.
Laurie Berman (Investors) - [email protected]
George Medici (Media) - [email protected]
