GigaCloud Boosts Global Presence With New Warehousing Facilities In US And Germany

GigaCloud Technology Inc GCT has announced the addition of three new warehouses to its global infrastructure, expected to commence operations in October 2023.

This expansion aligns with GigaCloud's B2B marketplace growth. It aims to provide enhanced logistical support for clientele, reflecting the rapidly expanding nature of the Company's operations.

Two of the new storage facilities will be based in the U.S., specifically in Savannah, Georgia, and Rancho Cucamonga, California. Together, they cover around 784,300 square feet, marking a 20.7% boost in U.S. storage space.

The third warehouse is slated for Bremen, Germany, encompassing around 110,400 square feet. This signifies a substantial 47.8% surge in GigaCloud's German warehousing space.

"The decision to expand our warehouse footprint is a clear indicator of the continued organic growth of our marketplace," commented Larry Wu, Founder, Chairman, and CEO of GigaCloud. He added that the new Savannah warehouse would further optimize operational efficiency and facilitate smoother transactions across the U.S.

Price Action: GCT shares are trading lower by 0.90% at $9.72 on Friday.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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