SALT LAKE CITY, May 21, 2015 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (Nasdaq:OSTK) has expanded its operations into China. The online retailer is now shipping product from a warehouse located just outside of Shanghai. Overstock.com worked with Web2Asia to assist with integration into the country, and partnered with China's second largest online retail store, JD.com, for the product launch.
"We are excited to enter the Chinese market. This is a great opportunity for Overstock and our partners," said Overstock.com founder and CEO Patrick M. Byrne. "A journey of a thousand li begins with a single step."
Overstock.com will continue using its existing Shanghai office to handle all accounting, merchandising, operations, returns and sourcing. SF Express will handle domestic shipping for Overstock.com in the country.
"The domestic assets that we've set up in China will provide our new customers the same level of service and speed Overstock has built our reputation on for 15 years in the U.S., tailored to the Chinese customer," said Byrne.
Overstock.com currently ships from the U.S. to 180 countries and U.S. territories worldwide.
Overstock.com, Inc. (Nasdaq:OSTK) is an online shopping retailer based in Salt Lake City, Utah that sells a broad range of products at low prices including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com is a fair trade department dedicated to selling artisan-crafted products from around the world whereas Main Street Revolution supports small businesses across the U.S. by providing them a national customer base. Overstock has additional community-focused initiatives such as a Farmers Market and pet adoption service. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co. Overstock (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.
O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock Fair Trade, Worldstock, and OVillage are registered trademarks. O.biz, Club O Dollars,and OGlobal are trademarks of Overstock.com, Inc. The Overstock.com, Club O, and Worldstock Fair Trade logos are also registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended March 31, 2015, which was filed with the SEC on April 29, 2015, and any subsequent filings with the SEC.