GigaCloud Technology Inc. has announced the acquisition of New Classic Home Furnishings, Inc. for $18 million, strengthening its presence in furniture distribution and logistics. The deal, approved unanimously by GigaCloud's board, is expected to close on January 2, 2026, subject to standard conditions.
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New Classic brings 25 years of experience in furniture distribution, serving over 1,000 retailers and offering more than 2,000 SKUs. The company sources predominantly from Southeast Asia and the United States, with less than 3% coming from China, providing GigaCloud with greater supply-chain diversification.
The acquisition allows GigaCloud to integrate New Classic's brick-and-mortar distribution and furniture-supply capabilities with its own e-commerce and large-parcel logistics platform. This will enhance the company's ability to manage sourcing, payments, logistics, and last-mile delivery for home furnishings and other large items across international supply chains.
GigaCloud, headquartered in El Monte, California, operates the GigaCloud Marketplace, a B2B platform designed for large-parcel merchandise, including furniture, appliances, and fitness equipment. By combining its digital and logistical expertise with New Classic's established network, GigaCloud aims to create a more robust, integrated solution for retailers in the furniture sector.
Source: www.finance.yahoo.com
