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Zall Development unit buys equity stake in LightInTheBox

Zall Development Group Ltd. unit Zall Cross-borderE-commerce Investment Co. Ltd. closed the acquisition of a strategic equity stake in

As a result of the transaction, Zhi Yan and Gang Yu havejoined LightInTheBox as directors of the company, effective March 30,succeeding Richard Lim and Ye Yuan, who have resigned from the board, accordingto a March 30 news release.

Yan will replace Lim as a member of the corporate governanceand nominating committee of the board, while the company appointed Yu to thecompensation committee of the board.