GigaCloud Technology Inc. (NASDAQ: GCT) has surged 8.30% to $33.59 on the US market, with trading volume surpassing 1.73 million shares. This upswing follows the unveiling of a novel service.
GigaCloud (GCT) has introduced an unprecedented offering termed “Branding-as-a-Service” (BaaS). Tailored to augment the competitiveness of furniture suppliers, the GigaCloud BaaS Program meticulously selects Sellers within the B2B GigaCloud Marketplace to vend products under the esteemed American furniture brand, Christopher Knight Home.
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Under the BaaS Program, Sellers, typically comprising furniture suppliers or manufacturers, are authorized to sell and circulate approved product SKUs under the designated brand. Through a per-SKU validation process, eligible Sellers can market the branded products for a specified fee.
GigaCloud establishes product development and quality control benchmarks, supervising brand management, fulfillment, marketing, and promotional endeavors for the branded products. The furniture sector grapples with distinctive hurdles in brand establishment.
Irregular purchases and gradual brand value accumulation impede Sellers in forging robust brand identities. GigaCloud’s BaaS Program innovatively confronts these challenges. It furnishes Sellers with access to a prestigious furniture brand, enabling them to offer top-tier products resonating with consumers.
This allows them to leverage an established brand to entice Buyers and set themselves apart in a competitive market. Furthermore, BaaS Program participants can anticipate additional growth prospects through collaborations with diverse brands, presenting enticing opportunities for Sellers.
Through the BaaS Program, GigaCloud extends guidance, expertise, and resources essential for bolstering Sellers’ brand identity and quality standards – a distinctive chance to collaborate with a nationally acclaimed brand.
Supported by the Supplier Fulfilled Retailing model, featuring comprehensive supply chain management and quality assurance, BaaS Program participants harness the Company’s B2B Marketplace, fulfillment capabilities, and established customer base to expedite growth, streamline efficiency, and broaden market outreach.
GigaCloud empowers enterprises by furnishing fundamental components that address the pain points of both Sellers and Buyers, propelling their expansion. Serving as an impartial platform, GigaCloud endeavors to optimize the efficiency of cross-border transactions for its global marketplace participants.
