Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2015 shares
Document and Entity Information
Entity Registrant Name	LightInTheBox Holding Co., Ltd.
Entity Central Index Key	0001523836
Document Type	20-F
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	94,456,773
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 30,901	$ 75,358
Term deposit		5,802
Restricted cash	1,606	2,267
Accounts receivable	920	695
Inventories	11,261	9,845
Prepaid expenses and other current assets	5,053	5,189
Total current assets	49,741	99,156
Property and equipment, net	2,209	3,664
Intangible assets, net	232	249
Goodwill	690	690
Long-term rental deposit	658	708
Long-term investment	1,963
TOTAL ASSETS	55,493	104,467
Current Liabilities
Accounts payable (including accounts payable of the consolidated VIEs without recourse to LightInTheBox Holding Co., Ltd. of $23 and $22 as of December 31, 2014 and December 31,2015, respectively)	29,351	25,236
Advance from customers (including advance from customers of the consolidated VIEs without recourse to LightInTheBox Holding Co., Ltd. of nil and nil as of December 31, 2014 and December 31, 2015, respectively)	8,282	10,979
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to LightInTheBox Holding Co., Ltd. of $2,251 and $1,760 as of December 31, 2014 and December 31, 2015, respectively)	19,983	25,069
Total current liabilities	57,616	61,284
TOTAL LIABILITIES	57,616	61,284
EQUITY (DEFICIT)
Ordinary shares ($0.000067 par value; 750,000,000 shares authorized; 100,354,801 and 101,847,447 shares issued as of December 31, 2014 and December 31, 2015, respectively; 96,617,349 and 94,456,773 shares outstanding as of December 31, 2014 and December 31, 2015, respectively)	7	7
Additional paid-in capital	159,190	155,872
Treasury shares, at cost (3,737,452 and 7,309,674 shares as of December 31, 2014 and December 31, 2015, respectively)	(19,996)	(10,957)
Accumulated deficit	(141,015)	(101,608)
Accumulated other comprehensive loss	(309)	(131)
TOTAL EQUITY (DEFICIT)	(2,123)	43,183
TOTAL LIABILITIES AND EQUITY	$ 55,493	$ 104,467

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts payable (in dollars)	$ 29,351	$ 25,236
Advance from customers (in dollars)	8,282	10,979
Accrued expenses and other current liabilities	$ 19,983	$ 25,069
Ordinary shares, par value (in dollars per share)	$ 0.000067	$ 0.000067
Ordinary shares, shares authorized	750,000,000	750,000,000
Ordinary shares, shares issued	101,847,447	100,354,801
Ordinary shares, shares outstanding	94,456,773	96,617,349
Treasury stock, shares	7,390,674	3,737,452
Consolidated VIEs
Accounts payable (in dollars)	$ 22	$ 23
Advance from customers (in dollars)	0	0
Accrued expenses and other current liabilities	$ 1,760	$ 2,251

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenues	$ 323,763	$ 382,407	$ 292,417
Cost of goods sold	207,354	237,095	165,267
Gross profit	116,409	145,312	127,150
Operating expenses:
Fulfillment	22,419	23,926	15,963
Selling and marketing	91,614	105,186	84,245
General and administrative	41,535	46,916	31,929
Total operating expenses	155,568	176,028	132,137
Loss from operations	(39,159)	(30,716)	(4,987)
Exchange loss on offshore bank accounts	(938)	(1,556)
Interest income	773	2,355	237
Total other income (loss)	(165)	799	237
Loss before income taxes	(39,324)	(29,917)	(4,750)
Income taxes expenses	(49)	(70)	(69)
Loss from equity method investment	(34)
Net loss	(39,407)	(29,987)	(4,819)
Accretion of Series C convertible redeemable preferred shares			(1,621)
Net loss attributable to ordinary shareholders	$ (39,407)	$ (29,987)	$ (6,440)
Net loss per ordinary share-basic (in dollars per share)	$ (0.41)	$ (0.30)	$ (0.09)
Net loss per ordinary share-diluted (in dollars per share)	$ (0.41)	$ (0.30)	$ (0.09)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (39,407)	$ (29,987)	$ (4,819)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax of nil	(178)	(12)	(89)
Total comprehensive loss	$ (39,585)	$ (29,999)	$ (4,908)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) - USD ($) $ in Thousands	Series A convertible preferred shares Preferred Shares	Series B convertible preferred shares Preferred Shares	Ordinary Shares	Additional Paid-in Capital	Treasury stock, at cost	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Balance at Dec. 31, 2012	$ 5,000	$ 11,270	$ 2	$ 10,459		$ (30)	$ (65,181)	$ (38,480)
Balance (in shares) at Dec. 31, 2012	15,000,000	17,522,725	36,680,558
Increase (Decrease) in Stockholders' Equity
Conversion of preferred shares upon IPO	$ (5,000)	$ (11,270)	$ 3	59,359				43,092
Conversion of preferred shares upon IPO (in shares)	(15,000,000)	(17,522,725)	42,174,290
Conversion of convertible notes upon IPO				8,000				8,000
Conversion of convertible notes upon IPO (in shares)			2,224,610
Issuance of common shares upon IPO (net of offering costs of $9,883)			$ 2	70,795				70,797
Issuance of common shares upon IPO (in shares)			16,984,736
Issuance of ordinary shares upon vesting of nonvested shares (in shares)			767,397
Exercise of share options				193				193
Exercise of share options (in shares)			363,400
Share-based compensation				4,318				4,318
Accretion for Series C convertible redeemable preferred shares							(1,621)	(1,621)
Net loss							(4,819)	(4,819)
Foreign currency translation adjustments						(89)		(89)
Balance at Dec. 31, 2013			$ 7	153,124		(119)	(71,621)	81,391
Balance (in shares) at Dec. 31, 2013			99,194,991
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares upon vesting of nonvested shares (in shares)			611,010
Exercise of share options				230				230
Exercise of share options (in shares)			548,800
Share-based compensation				2,518				2,518
Repurchase of ordinary shares					$ (10,957)			(10,957)
Repurchase of ordinary shares (in share)			(3,737,452)
Net loss							(29,987)	(29,987)
Foreign currency translation adjustments						(12)		(12)
Balance at Dec. 31, 2014			$ 7	155,872	(10,957)	(131)	(101,608)	43,183
Balance (in shares) at Dec. 31, 2014			96,617,349
Balance at Dec. 31, 2013			$ 7	153,124		(119)	(71,621)	81,391
Balance (in shares) at Dec. 31, 2013			99,194,991
Increase (Decrease) in Stockholders' Equity
Repurchase of ordinary shares								(19,996)
Balance at Dec. 31, 2015			$ 7	159,190	(19,996)	(309)	(141,015)	(2,123)
Balance (in shares) at Dec. 31, 2015			94,456,773
Balance at Dec. 31, 2014			$ 7	155,872	(10,957)	(131)	(101,608)	43,183
Balance (in shares) at Dec. 31, 2014			96,617,349
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares upon vesting of nonvested shares (in shares)			1,316,696
Exercise of share options				122				122
Exercise of share options (in shares)			175,950
Share-based compensation				3,196				3,196
Repurchase of ordinary shares					(9,039)			(9,039)
Repurchase of ordinary shares (in share)			(3,653,222)
Net loss							(39,407)	(39,407)
Foreign currency translation adjustments						(178)		(178)
Balance at Dec. 31, 2015			$ 7	$ 159,190	$ (19,996)	$ (309)	$ (141,015)	$ (2,123)
Balance (in shares) at Dec. 31, 2015			94,456,773

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF CASH FLOWS
Net loss	$ (39,407)	$ (29,987)	$ (4,819)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	2,135	1,855	1,361
Share-based compensation	3,196	2,518	4,318
Exchange loss on offshore bank accounts	938	1,556
Loss from equity method investment	34
Inventory write down	1,890	1,206	(420)
Amortization of debt discount			956
Interest on convertible notes			413
Changes in operating assets and liabilities:
Accounts receivable	(246)	(447)	12
Inventories	(3,326)	(4,000)	(864)
Prepaid expenses and other current assets	106	3,639	(1,148)
Long-term rental deposit	33	(79)	(337)
Accounts payable	4,117	6,567	9,508
Advance from customers	(2,697)	818	3,130
Accrued expenses and other current liabilities	(4,674)	9,465	3,042
Net cash provided by (used in) operating activities	(37,901)	(6,889)	15,152
Cash flows from investing activities
Purchase of property and equipment	(769)	(2,576)	(2,451)
Maturity of term deposit	43,054	157,519
Purchase of term deposit	(37,708)	(84,855)	(79,958)
Deposit (Withdraw) in restricted cash	661	(907)	(143)
Payment for business acquisition			(1,000)
Payment for long term investment	(2,100)
Net cash (used in) provided by investing activities	3,138	69,181	(83,552)
Cash flows from financing activities
Proceeds from exercise of share options	122	230	193
Proceeds from initial public offering			75,030
Repurchase of ordinary shares	(9,346)	(10,650)
Payment of professional fees related to initial public offering			(3,127)
Net cash provided by (used in) financing activities	(9,224)	(10,420)	72,096
Net increase (decrease) in cash and cash equivalents	(43,987)	51,872	3,696
Effect of exchange rate changes on cash and cash equivalents	(470)	(259)	77
Cash and cash equivalents at beginning of year	75,358	23,745	19,972
Cash and cash equivalents at end of year	30,901	75,358	23,745
Supplemental cash flow information:
Income taxes paid	$ (49)	$ (70)	(69)
Interest paid			$ (1,157)

ORGANIZATION AND PRINCIPAL ACTIVITIES

12 Months Ended

Dec. 31, 2015

ORGANIZATION AND PRINCIPAL ACTIVITIES

ORGANIZATION AND PRINCIPAL ACTIVITIES

1.ORGANIZATION AND PRINCIPAL ACTIVITIES

LightInTheBox Holding Co., Ltd. (the “Company”), incorporated in the Cayman Islands in March 2008 by five founding shareholders, together with its consolidated subsidiaries and variable interest entities (“VIEs”) (collectively referred to the “Group”), is primarily involved in online retailing to sell and deliver products to consumers around the world.

As of December 31, 2015, details of the Company’s subsidiaries and VIEs are as follows:

	Later of acquisition/ Incorporation	Place of incorporation	Percentage of legal ownership	Principal activities
Subsidiaries
Light In The Box Limited (“Light In The Box”)	June 13,2007	Hong Kong	100%	Online retail
Lanting International Holding Limited (“Lanting International”)	December 19,2013	Hong Kong	100%	Investment holding
LightInTheBox International Logistic Co., Ltd. (“LightInTheBox Logistic”)	December 3,2010	Hong Kong	100%	Logistic
LITB, Inc.	December 18,2013	United States	100%	Marketing and software development and technology support
Lightinthebox Trading(Shenzhen) Co., Ltd. (“Lanting Jishi”)	October 21,2008	People’s Republic of China	100%	Online retail
Light In The Box(Suzhou) Trading Co., Limited (“Lanting Suzhou”)	December 2,2013	People’s Republic of China	100%	Online retail
Light In The Box (Chengdu) Technology Co., Limited	November 11, 2014	People’s Republic of China	100%	Software development and information technology support
LightInTheBox (UK) Limited	May 26,2009	United Kingdom	100%	Inactive
LITB Netherlands B.V.	September 22, 2014	Netherlands	100%	Marketing
LITB Poland Sp. zo.o.	January 23, 2015	Poland	100%	Inactive

VIEs
Shenzhen Lanting Huitong Technologies Co., Ltd. (“Lanting Huitong”)	June 24,2008	People’s Republic of China	Consolidated VIE	Software development and information technology support
Beijing Lanting Gaochuang Technologies Co., Ltd. (“Lanting Gaochuang”)	December 6,2011	People’s Republic of China	Consolidated VIE	Software development and information technology support

VIE’s (Lanting Huitong’s) wholly owned subsidiary
Shanghai Ouku Network Technologies Co., Ltd. (“Shanghai Ouku”)	August 24,2010	People’s Republic of China	VIE’s subsidiary	Online retail

History of the Group and corporate reorganization

The Group commenced its operation in June 2007, with the establishment of Light In The Box in June 2007 in Hong Kong by the same five founding shareholders of the Company. Light In The Box subsequently became the Company’s subsidiary through a share for share exchange in April 2008 which has been accounted for in a manner akin to a pooling of interest as if the Company had been in existence and owned Light In The Box since June 2007.

Lanting Jishi was established in October 2008 in the People’s Republic of China (the “PRC”) as a wholly owned subsidiary of Light In The Box.

The VIE arrangements

The PRC regulations currently limit direct foreign ownership of business entities providing value-added telecommunications services, advertising services and Internet services in the PRC where certain licenses are required for the provision of such services. To comply with these PRC regulations, the Group currently conducts certain aspects of its business in the PRC through Lanting Huitong and Lanting Gaochuang, both of which are VIEs.

Lanting Huitong was established by the shareholders of the Company in June 2008 in the PRC. Through the contractual arrangements (as described below) among Lanting Jishi, Lanting Huitong and the respective shareholders of Lanting Huitong, Lanting Huitong became the Group’s VIE.

In order to obtain the benefit granted to domestic enterprises that are held by Chinese nationals who have previously studied overseas, the Chief Executive Officer (“CEO”) and Lanting Huitong established Lanting Gaochuang in December 2011, each holding 51% and 49% of Lanting Gaochuang, respectively, in the China Beijing Wangjing Overseas Students Pioneer Park.

Through a series of contractual arrangements (as described below) among Lanting Jishi, Lanting Gaochuang and the respective shareholders of Lanting Gaochuang, Lanting Gaochuang became the Group’s VIE.

Agreements that provide Lanting Jishi effective control over Lanting Huitong and Lanting Gaochuang (collectively, the “VIEs”)

Powers of Attorney: Each shareholder of the VIEs has executed a power of attorney appointing Lanting Jishi or its designee to be his or her attorney and irrevocably authorizing them to vote on his or her behalf on all of the matters concerning the VIEs that may require shareholders’ approval. The powers of attorney will be valid as long as the shareholders remain as shareholders of the VIEs.

Equity disposal agreement: The agreements granted Lanting Jishi or its designated party exclusive options to purchase, when and to the extent permitted under PRC law, all or part of the equity interests in the VIEs. The exercise price for the options to purchase all or part of the equity interests will be the minimum amount of consideration permissible under the then applicable PRC law. The agreement will be valid until Lanting Jishi or its designated party purchases all the shares from shareholders of the VIEs. The equity disposal agreement will be valid until the liquidation of the VIEs, unless terminated earlier at Lanting Jishi’s sole discretion.

Spousal consent letters: Pursuant to spousal consent letters, the spouses of certain shareholders of Lanting Huitong acknowledged that the equity interests of Lanting Huitong held by and registered in the name of his/her spouse will be disposed of pursuant to the equity disposal and share pledge agreements. These spouses understand that such equity interests are held by their respective spouse on behalf of Lanting Jishi, and they will not take any action to interfere with the disposition of such equity interests, including, without limitation, claiming that such equity interests constitute communal property of marriage. The spousal consent letters will be valid until the liquidation of Lanting Huitong, unless terminated earlier at Lanting Jishi’s sole discretion.

Loan Agreement: Under the loan agreement entered into in December 2011 between Lanting Jishi and the CEO, Lanting Jishi extended a loan in the amount of $41 (RMB255, 000) to the CEO to be contributed as 51% of the registered capital of Lanting Gaochuang. Under this agreement, the CEO agrees that without prior written consent from Lanting Jishi, Lanting Gaochuang may not enter into any transaction that could materially affect its assets, liabilities, interests or operations, and there will be no earnings distribution in any form by Lanting Gaochuang before such loan has been repaid. This loan can only be repaid by transferring all of the CEO’s equity interest in Lanting Gaochuang to Lanting Jishi or a third party designated by Lanting Jishi, and submitting all proceeds from such transaction to Lanting Jishi. The loan agreement has a term of ten years and will be extended automatically, unless indicated otherwise by Lanting Jishi in writing three months prior to the contract expiration date.

Agreements that transfer economic benefits to Lanting Jishi

Business operation agreements: The shareholders of the VIEs and the VIEs agreed that the VIEs may not enter into any transaction that could materially affect the assets, liabilities, interests or operations of the VIEs, without prior written consent from Lanting Jishi or other party designated by Lanting Jishi. In addition, directors, supervisors, chairman, general managers, financial controllers or other senior managers of the VIEs must be Lanting Jishi’s nominees. Lanting Jishi is entitled to any dividend declared by the VIEs. The business operation agreement will be valid until the liquidation of the VIEs, unless terminated earlier at Lanting Jishi’s sole discretion.

Exclusive technical support and consulting service agreements: Lanting Jishi agreed to provide the VIEs with technology support and consulting services. The VIEs agreed to pay a service fee annually equal to substantially all of the net income of the VIEs. The exclusive technical support and consulting service agreement will be valid until the liquidation of the VIEs, unless terminated earlier at Lanting Jishi’s sole discretion.

Share pledge agreement: The shareholders of the VIEs pledged all of their respective equity interests in favor of Lanting Jishi to secure the obligations of the VIEs, and the shareholders under the VIE agreements, including the business operation agreements, and the exclusive technical support and consulting service agreements described above. If the VIEs or any of the shareholders of the VIEs breaches any of their respective contractual obligations under these agreements, Lanting Jishi, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. The shareholders of the VIEs agreed not to transfer, sell, pledge, dispose of or otherwise create any new encumbrance on their respective equity interests in the VIEs, without Lanting Jishi’s prior written consent. Unless terminated at Lanting Jishi’s sole discretion, each share pledge agreement will be valid till the completion of all the contractual obligations of the VIEs, or any of the shareholders of the VIEs under the various agreements, including the business operation agreements, the technical support and consulting service agreements and equity disposal agreements.

Since the Company, through Lanting Jishi, its wholly owned subsidiary, has (1) the power to direct the activities of Lanting Huitong and Lanting Gaochuang that most significantly affect their economic performance and (2) the right to receive the benefits from them, the Company is the primary beneficiary of both entities and has consolidated them as VIEs since their respective inceptions.

Risks in relation to VIE structure

The Group believes that Lanting Jishi’s contractual arrangements with the VIEs are in compliance with the PRC law and are legally enforceable. The shareholders of the VIEs are also shareholders of the Company and therefore have no current interest in seeking to act contrary to the contractual arrangements. However, uncertainties in the PRC legal system could limit the Group’s ability to enforce these contractual arrangements and if the shareholders of the VIEs were to reduce their interest in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms, for example by influencing the VIEs not to pay the service fees when required to do so. The Company’s ability to control the VIEs also depends on the power of attorney Lanting Jishi has to vote on all matters requiring shareholder approval in the VIEs. As noted above, the Company believes this power of attorney is legally enforceable but may not be as effective as direct equity ownership.

In addition, if the legal structure and contractual arrangements were found to be in violation of any existing PRC laws and regulations, the PRC government could:

revoke the Group’s business and operating licenses;

require the Group to discontinue or restrict operations;

restrict the Group’s right to collect revenues;

block the Group’s websites;

revoke the benefits provided by the Wangjing Pioneer Park;

require the Group to restructure the operations in such a way as to compel the Group to establish a new enterprise, re-apply for the necessary licenses or relocate their businesses, staff and assets;

impose additional conditions or requirements with which the Group may not be able to comply; or

take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business.

The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIEs and its subsidiaries or the right to receive their economic benefits, the Group would possibly no longer be able to consolidate the VIEs.

The following consolidated financial information of the Group’s VIEs was included in the accompanying consolidated financial statements as of and for the years ended, after elimination of intercompany balances and transactions within the Group:

	As of		As of
	December 31,		December 31,
	2014		2015

Total assets	$	2,988	$	227
Total liabilities	$	2,274	$	1,782

	Year ended December 31,
	2013			2014			2015

Net revenues	$	300		$	58		$	5
Net loss	$	(179	)	$	(725	)	$	(128	)

	Year ended December 31,
	2013			2014			2015

Net cash provided by (used in) operating activities	$	647		$	769		$	(247	)
Net cash (used in) provided by investing activities	$	(798	)	$	(895	)	$	44
Net cash provided by financing activities	$	—		$	—		$	—

As of December 31, 2015, there was no pledge or collateralization of the consolidated VIEs’ assets. And none of the consolidated VIEs’ assets can only be used to settle the VIEs’ obligations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of consolidation

The consolidated financial statements include the financial statements of the Group, its subsidiaries and its VIEs. All inter-company transactions and balances are eliminated upon consolidation.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amount of revenues and expenses in the financial statements and accompanying notes. Actual results may differ from these estimates. The Group bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Group’s financial statements include revenue recognition, inventory valuation, impairment of goodwill and intangible assets, share-based compensation and income taxes.

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and term deposits with an original maturity of three months or less.

Term deposit

Term deposit with an original maturity of greater than three months and less than one year is classified as held-to-maturity investments and carried at amortized cost. The term deposits mature within one year and are subject to penalty for early withdrawal before their maturity.

Restricted cash

Restricted cash consists of cash which is held under the Group’s name in an escrow account as deposits withheld by third party payment processing agencies and the deposits fluctuate with the volume of payment processed.

Accounts receivable

Accounts receivable represents cash collected by the delivery service providers on behalf of the Group, as a result of completed sales transactions in the PRC under cash-on-delivery terms, and has not been remitted back to the Group. As of December 31, 2014 and 2015, there was no allowance for doubtful accounts due to the nature of the receivables which is cash collected from customers and in-transit to the Group.

Inventories

Inventories are accounted for using the first-in-first-out method, and are valued at the lower of cost or market value. Adjustments are recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and broken assortments, which is dependent upon factors such as historical trends with similar merchandise, inventory aging, and historical and forecasted consumer demand. Write downs are recorded in cost of goods sold in the consolidated statements of operations.

Property and equipment, net

Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated on a straight-line basis over the following estimated useful lives:

		Useful lives

Leasehold improvements		Lesser of the lease term or estimated useful life of the assets
Furniture, fixtures and office equipment		5 years
Software and IT equipment		3 years

Acquired intangible assets, net

Intangible assets, other than goodwill, resulting from the acquisitions of entities accounted for using the acquisition method of accounting are estimated by management based on the fair value of assets acquired.

Identifiable intangible assets are carried at cost less accumulated amortization. Amortization of technology and members are computed using the straight-line method over the estimated useful lives.

		Useful lives

Domain name/Tradename		Indefinite life
Technology		3 Years
Members		4 Years

Long-term investment

Investment in an entity where the Group can exercise significant influence, but not control, is accounted for using the equity method. Whether or not the Group can exercise significant influence with respect to an equity investee depends on an evaluation of several factors including, among others, the Group’s representation on the investee’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee. Under the equity method, the investment is initially recorded at cost and adjusted for the Group’s share of undistributed earnings or losses of the investee.

The management regularly evaluates the impairment of the equity investment based on performance and the financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financings, projected and historical financial performance, cash flow forecasts and financing needs. An impairment charge is recorded when the carrying amount of the investment exceeds its fair value and this condition is determined to be other-than-temporary.

Impairment of long-lived assets and intangible assets with definite life

Long-lived assets, such as property and equipment and definite-lived intangible assets, are stated at cost less accumulated depreciation or amortization.

The Group evaluates the recoverability of long-lived assets, including identifiable intangible assets, with determinable useful lives, whenever events or changes in circumstances indicate that an intangible asset’s carrying amount may not be recoverable. The Group measures the carrying amount of long-lived asset against the estimated undiscounted future cash flows associated with it. Impairment exists when the sum of the expected future net cash flows is less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. Fair value is estimated based on various valuation techniques, including the discounted value of estimated future cash flows. The evaluation of asset impairment requires the Group to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts.

Impairment of Goodwill and Indefinite-lived intangible assets

Goodwill and intangible assets deemed to have indefinite useful lives are not amortized, but tested for impairment annually or more frequently if event and circumstances indicate that they might be impaired.

Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Group performs a two-step goodwill impairment test. The first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit’s goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. In estimating the fair value of each reporting unit the Group estimates the future cash flows of each reporting unit, the Group has taken into consideration the overall and industry economic conditions and trends, market risk of the Group and historical information.

An intangible asset that is not subject to amortization is tested for impairment at least annually or if events or changes in circumstances indicate that the asset might be impaired. Such impairment test compares the fair values of assets with their carrying value amounts and an impairment loss is recognized if and when the carrying amounts exceed the fair values. The estimates of fair values of intangible assets not subject to amortization are determined using various discounted cash flow valuation methodologies. Significant assumptions are inherent in this process, including estimates of discount rates.

Business combinations

The assets acquired, the liabilities assumed, and any noncontrolling interest of the acquiree at the acquisition date, if any, are measured at their fair values as of that date. Goodwill is recognized and measured as the excess of the total consideration transferred plus the fair value of any noncontrolling interest of the acquiree, if any, at the acquisition date over the fair values of the identifiable net assets acquired. Acquisition costs are expensed when incurred. Consideration transferred in a business acquisition is measured at the fair value as of the date of acquisition. For shares issued in a business combination, if any, the Group estimates the fair value as of the date of acquisition.

Treasury stock

Treasury stock represents shares of the Company’s stock that have been issued, repurchased by the Company, and that have not been retired or canceled. These shares have no voting rights and are not entitled to receive dividends and excluded from the weighted average outstanding shares in calculation of net income per share. Treasury stock is recorded at cost.

Revenue recognition

Revenue is stated net of value added tax (“VAT”) and return allowances.

The Group recognizes revenue from the sale of apparel and other general merchandise through its websites and other online platforms.

The Group recognizes revenue when the following four revenue recognition criteria are met:

(i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the selling price is fixed or determinable, and (iv) collectability is reasonably assured.

The Group defers the recognition of revenue and the related product costs for shipments that are in-transit to the customer. Payments received in advance of delivery are classified as advances from customers. The Group recognizes the revenue at the time the end customers receive the products even for international shipment. Amounts collected by delivery service providers but not remitted to the Group are classified as accounts receivable on the consolidated balance sheets.

Certain employees of the Group register in supplemental online outlets under their own name as these websites require registration using identity cards of individuals to sell the Group’s product on behalf of the Group. The Group has contractual arrangements with these employees which require them to transfer customers’ payments received to the Group for the sale of the products. The Group evaluates the sales transactions performed by these employees on behalf of the Group to determine whether to recognize the revenues on a gross or net basis. The determination is based upon an assessment as to whether the Group acts as a principal or agent when selling the products. All of the revenues involving employees performing sales transactions on the supplemental online outlets on behalf of the Group are currently accounted for on a gross basis since the Group is the primary obligor, has general and physical inventory risk, latitude in establishing prices, discretion in supplier selection and credit risks.

In arrangements whereby certain suppliers place the products at the Group’s premises, the risk and rewards of ownership of the products passed to the Group upon confirmation of orders by the Group’s customers. All of the revenues involving these arrangement are accounted for on a gross basis since the Group is the primary obligor, has physical inventory risk, latitude in establishing prices, discretion in supplier selection and credit risks.

The Group periodically provides incentive offers to its customers to encourage purchases. Current discount offers, when accepted by its customers, are treated as a reduction to the purchase price of the related transaction and are included as a net amount in revenue. The Group also provides discount reward, which may only be used in the future, to customers who have made a current purchase. As the right of receiving future discount does not represent a significant and incremental discount to the customer, the discount is treated as a reduction of revenue when the future transaction takes place.

The Group established a membership program whereby a registered member earns certain points for visiting one of the Group’s websites. Points could only be redeemed in connection with a future purchase. Such points, when redeemed, were charged as costs of sales at the time of future purchase. Since the points were earned not based on past sales transactions, no accrual was made at the time when earned by the registered members.

Promotional free products, which cannot be redeemed for cash are normally shipped together with current qualified sales. Cost of these promotional items or free products are recorded as cost of sales when the revenue of the current qualified sales is recognized.

The Group allows customers to return goods within a period of time subsequent to the delivery of the goods purchased. The Group changed its sales return policy in 2014 to offer returns for items from 7 days to 30 days of receipt of shipment. The Group estimates return allowance based on historical experience. The estimation of return allowances is adjusted to the extent that actual returns differ, or are expected to differ. Changes in the estimated return allowance are recognized through a cumulative catch-up adjustment in the period of change and will impact the amount of net revenues in that period.

Outbound shipping charges to customers are included as a part of the revenues. Outbound shipping-related costs are included in the cost of goods sold. Shipping costs incurred for sales of products and recognized as cost of goods sold were $63,917, $94,509 and $80,915 for the years ended December 31, 2013, 2014 and 2015 respectively.

VAT on sales is calculated at 17% on revenue from sale of products in the PRC and paid after deducting input-VAT on purchases. The net VAT balance between input-VAT and output-VAT is reflected in the consolidated financial statement as prepaid expenses and other current assets or accrued expenses and other current liabilities.

Cost of goods sold

Cost of goods sold primarily consists of the purchase price of consumer products sold by the Group on its websites, inbound and outbound shipping charges, packaging supplies and inventory write-down. Shipping charges to receive products from its suppliers are included in inventory cost, and recognized as cost of sales upon sale of products to its customers.

Fulfillment

Fulfillment costs represent those costs incurred in operating and staffing the Group’s fulfillment and customer service centers, including costs attributable to buying, receiving, inspecting, and warehousing inventories; picking, packaging, and preparing customer orders for shipment; payment processing and related transaction costs.

Selling and marketing

Selling and marketing expenses consist primarily of search engine marketing and advertising, affiliate market program expenditure, public relations expenditures; and payroll and related expenses for personnel engaged in selling, marketing and business development. The Group pays to use certain relevant key words relating to its business on major search engines and the fee is on a “cost-per-click” basis. The Group also pays commissions to participants in its affiliate program when customer referrals result in product sales, and the Group classifies such costs as selling and marketing expenses in the consolidated statements of operations. Advertising includes fees paid to on-line advertisers who assist the Group to advertise at targeted websites. Such fees are paid at fixed rate or calculated based on volume directed to the Group’s website.

General and administrative

General and administrative expenses consist of payroll and related expenses for employees involved in general corporate functions such as accounting, finance, tax, legal, and human resources; costs associated with the use by these functions of facilities and equipment, such as depreciation expense and rent; professional fees and other general corporate costs. Also included in general and administrative expenses are payroll and related expenses for employees involved in product research and development, and systems support, as well as server charges and costs associated with telecommunications.

General and administrative expenses also include credit losses relating to fraudulent credit card activities which resulted in chargebacks from the payment processing agencies. The Group estimates chargebacks based on historical experience. The estimation of chargebacks is adjusted to the extent that actual chargebacks differ, or are expected to differ. The chargeback incurred for the years ended December 31, 2013, 2014 and 2015 are $1,036, $748 and $1,227.

Fair value

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows:

Level 1-inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.

Level 2-inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3-inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.

Financial instruments

Financial instruments of the Group primarily consist of cash and cash equivalents, term deposit, restricted cash, receivable from processing agencies, accounts payable. The carrying values of cash, term deposit, restricted cash, accounts receivable from processing agencies and accounts payable approximate their fair values due to short-term maturities.

Foreign currency translation

The functional currency of the Company, Light In The Box, Lanting International, LightInTheBox Logistic, LITB, Inc., LightInTheBox (UK) Limited, and LITB Poland Sp. zo.o.is the United States dollar (“U.S. dollar”) and LITB Netherlands B.V. is the Euro. The financial records of the Group’s subsidiaries and VIEs located in the PRC are maintained in their local currencies, the Renminbi (“RMB”), which are also the functional currencies of these entities.

Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statements of operations.

The Group’s entities with functional currency of RMB and Euro, translate their operating results and financial position into the U.S. dollar, the Group’s reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive loss.

Income taxes

Deferred income taxes are provided using the asset and liability method. Under this method, deferred income taxes are recognized for tax credits and net operating losses available for carry forwards and significant temporary differences. Deferred tax assets and liabilities are classified as current or non-current based upon the classification of the related asset or liability in the financial statements or the expected timing of their reversal if they do not relate to a specific asset or liability. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws and regulations applicable to the Group as enacted by the relevant tax authorities.

The impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. The Group did not recognize any income tax due to uncertain tax position or incur any interest and penalties related to potential underpaid income tax expenses for the years ended December 31, 2013, 2014 or 2015, respectively.

Comprehensive loss

Comprehensive loss includes net loss and foreign currency translation adjustments and is reported in the consolidated statements of comprehensive loss.

Share-based compensation

Share-based payment transactions with employees, such as share options are measured based on the grant date fair value of the equity instrument. The Group has elected to recognize compensation expense using the straight-line method for all employee equity awards granted with graded vesting provided that the amount of compensation cost recognized at any date is at least equal to the portion of the grant-date value of the options that are vested at that date, over the requisite service period of the award, which is generally the vesting period of the award. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of share-based compensation expense to be recognized in future periods.

Changes in the terms or conditions of share options are accounted as a modification under which the Group calculate whether there is any excess of the fair value of the modified option over the fair value of the original option immediately before its terms are modified, measured based on the share price and other pertinent factors at the modification date. For vested options, the Group recognizes incremental compensation cost in the period of the modification occurred and for unvested options, the Group recognizes, over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date.

Operating leases

Leases where the rewards and risks of ownership of assets primarily remain with the lessor are accounted for as operating leases. Some of operating lease agreements of the Group contain provisions for future rent increases, rent free periods, or periods in which rent payments are reduced (abated). The total amount of rental payments due over the lease term is being charged to rent expense on the straight-line method over the term of the lease. The difference between rent expense recorded and the amount paid is credited or charged to other accrued expenses, which is included in “Accrued expenses and other current liabilities” in the accompanying consolidated balance sheets.

Loss per share

Basic loss per ordinary share is computed by dividing net loss attributable to ordinary shareholders by weighted average number of ordinary shares outstanding during the period.

The Group’s Series A convertible preferred shares, Series B convertible preferred shares and Series C convertible redeemable preferred shares are participating securities as the preferred shares participate in undistributed earnings on an as-if-converted basis. Nonvested shares are also participating securities as they enjoy identical dividend rights as ordinary shares. Accordingly, the Group uses the two-class method whereby undistributed net income is allocated on a pro rata basis to each participating share to the extent that each class may share in income for the period. Undistributed net loss is not allocated to preferred shares because they are not contractually obligated to participate in the loss allocated to the ordinary and nonvested shares. All convertible preferred shares were converted to ordinary shares upon Initial Public Offerings (“IPO”) in 2013.

Diluted loss per ordinary share reflects the potential dilution that could occur if securities were exercised or converted into ordinary shares. The Group had convertible preferred shares, convertible redeemable preferred shares, stock options and nonvested shares, which could potentially dilute basic earnings per share in the future. To calculate the number of shares for diluted income per share, the effect of the convertible preferred shares and convertible redeemable preferred shares is computed using the as-if-converted method; and the effect of the stock options and nonvested shares is computed using the treasury stock method.

Significant risks and uncertainties

The Group participates in an industry with rapid changes in regulations, customer demand and competition and believes that changes in any of the following areas could have a material adverse effect on the Group’s future financial position, results of operations, or cash flows: advances and trends in e-commerce industry; changes in certain supplier and vendor relationships; regulatory or other PRC related factors; and risks associated with the Group’s ability to keep and increase the market coverage.

Concentration of credit risk

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and advances to suppliers. The Group places its cash and cash equivalents with financial institutions located in the PRC and Hong Kong, United States and Netherland. Accounts receivable primarily comprise amounts receivable from product delivery service providers. These amounts are collected from customers by the service providers upon product delivery. With respect to advances to product suppliers, the Group performs on-going credit evaluations of the financial condition of its suppliers.

Foreign currency risk

The RMB is not a freely convertible currency. The PRC State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Group’s cash and cash equivalents denominated in RMB amounted to $56,602, $48,144 and $6,939 at December 31, 2013, 2014 and 2015, respectively.

Recent accounting pronouncements

In July 2015, the Financial Accounting Standards Board (“FASB”) issued a new pronouncement Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (“LIFO”) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (“FIFO”) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.

In May 2014, the FASB issued, Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:

Step 1: Identify the contract (s) with a customer.

Step 2: Identify the performance obligations in the contract.

Step 3: Determine the transaction price.

Step 4: Allocate the transaction price to the performance obligations in the contract.

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In August 2015, FASB issued its final standard formally amending the effective date of the new revenue recognition guidance. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new revenue guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Group is in the process of evaluating the impact of adoption of this guidance on its consolidated financial statements.

In November, 2015, the FASB issued a new pronouncement which changes how deferred taxes are classified on organizations’ balance sheets. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Group does not expect the adoption of this guidance will have a significant effect on its consolidated financial statements. See Note 13 to the consolidated financial statements for a discussion on income tax balances.

In January, 2016, the FASB issued a new pronouncement which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.

The new guidance makes targeted improvements to existing U.S. GAAP by:

Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income;

Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;

Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;

Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;

Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and

Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.

The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance supersedes existing guidance on accounting for leases with the main difference being that operating leases are to be recorded in the statement of financial position as right-of-use assets and lease liabilities, initially measured at the present value of the lease payments. For operating leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. For public business entities, the guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application of the guidance is permitted. In transition, entities are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, which simplifies the accounting for the taxes related to stock based compensation, including adjustments to how excess tax benefits and a company’s payments for tax withholdings should be classified. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Group is in the process of evaluating the impacts of the adoption of this ASU.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2015

PREPAID EXPENSES AND OTHER CURRENT ASSETS

PREPAID EXPENSES AND OTHER CURRENT ASSETS

3.PREPAID EXPENSES AND OTHER CURRENT ASSETS

Components of other current assets which are included in the prepaid expenses and other current assets are as follows:

	As of December 31,
	2014		2015
Receivable from processing agencies (1)	$	2,332	$	2,329
Prepayment to suppliers	1,166		1,554
Interest receivable	297		—
Rental deposits and prepaid rents	414		218
Staff advance	24		63
Others	956		889

Total	$	5,189	$	5,053

(1)

Receivables from processing agencies represented cash that had been received from customers but held by the processing agencies as of December 31, 2014 and 2015. The receivables were collected by the Group subsequent to the respective year end.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2015

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

4.PROPERTY AND EQUIPMENT, NET

The components of property and equipment are as follows:

	As of December 31,
	2014			2015
Leasehold improvements	$	3,723		$	3,887
Furniture, fixtures and office equipment	2,431			2,440
Software and IT equipment	3,059			3,013

Property and equipment, gross	9,213			9,340
Less: Accumulated depreciation	(5,549		)	(7,131		)

Property and equipment, net	$	3,664		$	2,209

Depreciation expenses incurred for the years ended December 31, 2013, 2014 and 2015 are $1,361, $1,838 and $2,118, respectively.

ACQUIRED INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2015

ACQUIRED INTANGIBLE ASSETS, NET

ACQUIRED INTANGIBLE ASSETS, NET

6.ACQUIRED INTANGIBLE ASSETS, NET

The Group’s intangible assets, presented in the following table, arose from the acquisition of Shanghai Ouku on May 24, 2010 and the acquisition of the fashion-focused site business from Ador Inc. on December 31, 2013.

	December 31, 2014										December 31, 2015
	Gross					Accumulated			Net		Gross					Accumulated			Net
	carrying		Accumulated			impairment			carrying		carrying		Accumulated			impairment			carrying
	amount		amortization			loss			amount		amount		amortization			loss			amount

Intangible assets not subject to amortization:
Trademark/Domain Name	$	1,220	$	—		$	(1,010	)	$	210	$	1,220	$	—		$	(1,010	)	$	210

Intangible assets subject to amortization:
- Technology Platform	90		(90		)	—			—		90		(90		)	—			—
- Non-compete Agreement	9		(7		)	(2		)	—		9		(7		)	(2		)	—
- Customer Base	32		(22		)	(10		)	—		32		(22		)	(10		)	—
- Technology	36		(12		)	—			24		36		(24		)	—			12
- Members	20		(5		)	—			15		20		(10		)	—			10

	$	1,407	$	(136	)	$	(1,022	)	$	249	$	1,407	$	(153	)	$	(1,022	)	$	232

The amortization expenses incurred for the years ended December 31, 2013, 2014 and 2015 were nil, $17 and $17, respectively. The Group expects to record amortization expenses of $17, $5 and nil for the years ended December 31, 2016, 2017, and 2018, respectively.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2015

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

8.ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

	As of December 31,
	2014		2015

Accrued payroll and staff welfare	$	13,154	$	12,817
Individual income tax withheld	621		605
VAT payable	327		301
Accrued professional fees	2,284		1,808
Accrued advertising fees	5,343		634
Credit card processing charges	449		376
Accrued sales return (1)	1,417		2,465
Other accrued expenses	1,474		977

Total	$	25,069	$	19,983

(1)

Accrued sales return represents the gross profit effect of estimated sales return at the end of each of the respective years assuming products returned had no value to the Group. Movements during the respective years are as follows:

	As of December 31,
	2014			2015

Balance at January 1	$	751		$	1,417
Allowance for sales return made in the year	14,418			17,491
Utilization of accrued sales return	(13,752		)	(16,443		)

Balance at December 31	$	1,417		$	2,465

ORDINARY SHARES	12 Months Ended
ORDINARY SHARES	Dec. 31, 2015
ORDINARY SHARES
ORDINARY SHARES	9.ORDINARY SHARES In June 2013, the Company completed its IPO of American Depositary Shares (“ADSs”) on the New York Stock Exchange with a total issuance of 8,492,368 ADSs at issuing price of $9.5 per ADS. Each ADS represents two ordinary shares of the Company. As such, the total ADSs represent 16,984,736 ordinary shares. Total net proceeds received were $75,030 from the IPO and the concurrent private placements, net of offering costs of $4,235. In December 2013, the board of directors approved the Company to repurchase up to $20,000 of its own outstanding ADSs within one year from December 2013. On December 16, 2014, the Company extended its existing share repurchase program for an additional 12-month through December 15, 2015.Pursuant to the share repurchase plan, the Company repurchased 1,868,726 ADSs and 3,695,337 ADSs as of December 31, 2014, and December 31, 2015, representing 3,737,452 ordinary shares and 7,390,674 ordinary shares, with a total consideration of approximately $19,996. The shares repurchased by the Company had not been retired or canceled and were accounted for at cost as treasury stock.

SHARE OPTIONS

12 Months Ended

Dec. 31, 2015

SHARE OPTIONS

SHARE OPTIONS

10.SHARE OPTIONS

On October 27, 2008, the Company adopted the 2008 Share Incentive Option Plan (“2008 Plan”) for the granting of share options to employees to reward them for services provided to the Company and to provide incentives for future services. Pursuant to the 2008 Plan, total shares that the 2008 Plan was authorized to grant were 4,444,444 shares. In May 2014, the Company authorized the issuance of an additional 6,900,000 ordinary shares to support the Company’s business expansion and recruiting plans. The majority of the options will vest over four years where 25% of the options will vest at the end of the first year after the grant date through the fourth year. The share options expire 10 years from the date of grant.

In 2013, the Company granted 307,250 share options under the 2008 Plan to employees at exercise price of $4.75 per share. These share options vest over a period ranged from three to four years.

In 2014, the Company granted 1,797,300 share options under the 2008 Plan to employees at exercise prices ranged from $1.84 to $3.26 per share. These share options vest over a period ranged from three to four years.

In 2015, the Company granted 546,400 share options under the 2008 Plan to employees at exercise prices at $2.25 per share. These share options vest over a period from three months to four years.

In May 2015, the Company cancelled 139,000 share options that were granted to certain employees under the Company’s 2008 share incentive plans and replaced with grants of 139,000 nonvested shares (the “modification”) with the same service condition. The weighted average exercise price before and after the modification are $4.62, respectively. Incremental compensation costs relating to this modification is approximately $210. The Company recognize $90 of incremental compensation cost on the date of modification relating to the vested awards. The remaining incremental compensation costs of $120 is to be recognized over the remaining service period (for unvested awards), which ranges from 3-months to 2-years.

The fair value of each option granted was estimated on the date of grant or modification using binomial option pricing model with the following assumptions during the applicable periods:

	2014	2015

Risk-free interest rate	3.75%-4.05%	3.59	%
Exercise multiple	2.2-2.8	2.2
Expected volatility	57.09%-63.88%	61.2	%
Expected dividend yield	0%	0	%
Fair value of ordinary shares	$2.53-$3.26	$ 1.28

(1)

Risk-free interest rate

Risk-free interest rate was estimated based on the yield to maturity of China international government bonds with a maturity period close to the contractual term of the options.

(2)

Exercise multiple

Exercise multiple represents the value of the underlying share as a multiple of exercise price of the option which, if achieved, results in exercise of the option.

(3)

Volatility

The volatility of the underlying ordinary shares during the life of the options was estimated based on the historical stock price volatility of comparable listed companies over a period comparable to the contractual term of the options.

(4)

Dividend yield

The dividend yield was estimated by the Group based on its expected dividend policy over the contractual term of the options.

(5)

Fair value of underlying ordinary shares

Before the Company’s IPO, the estimated fair value of the ordinary shares underlying the options as of the respective grant dates was determined based on a retrospective valuation. When estimating the fair value of the ordinary shares on the grant dates, management has considered a number of factors, including the result of the third-party appraisals prepared by independent valuation firms, and equity transactions of the Company.

After the Company’s IPO, the fair value of the underlying ordinary shares is determined based on the closing market price of the ADS of the Company as of the grant date.

A summary of the stock option activity under the 2008 Plan as of December 31, 2015, and changes during the year then ended is presented below:

			Weighted average
			exercise price
	Options granted		per option

Outstanding at January 1, 2015	2,506,300		$	2.35
Granted	546,400		$	2.25
Exercised	(175,950	)	$	2.31
Cancelled	(139,000	)	$	4.62
Forfeited	(1,363,700	)	$	2.47

Outstanding at December 31, 2015	1,374,050		$	1.98

The following table summarizes information regarding the share options granted as of December 31, 2015:

	As of December 31, 2015
				Weighted-
		Weighted-		average remaining
		average exercise		contractual	Aggregate
	Options Number	price per option		life (years)	intrinsic value

Options
Outstanding	1,374,050	$	1.98	7.49	$	291
Exercisable	755,550	$	1.66	7.49	$	291
Expected to vest	494,800	$	2.37	9.18	$	—

The total intrinsic value of options exercised during the years ended December 31, 2013, 2014 and 2015 were $1,235, $119, and $253 respectively.

The weighted average grant date fair value of options granted during the years ended December 31, 2013, 2014 and 2015 was $2.45, $1.42 and $1.28, respectively.

For the years ended December 31, 2013,2014 and 2015, the Group recorded share-based compensation expense of $280, $291 and $5 related to the options under the 2008 Plan, respectively. As of December 31, 2015, there was $1,071 of unrecognized compensation cost related to the options, which is expected to be recognized over a weighted-average period of 2.98 years.

NONVESTED SHARES

12 Months Ended

Dec. 31, 2015

NONVESTED SHARES

NONVESTED SHARES

11.NONVESTED SHARES

In 2011, the Company granted 1,820,010 nonvested shares to certain employees. These nonvested shares vest over a four year period from the date of the grant.

In 2013, the Company granted 711,571 nonvested shares to certain officers and employees. These nonvested shares vest over a period ranged from two to four years.

In 2014, the Company granted 2,800,300 nonvested shares to certain officers and employees. These nonvested shares vest over a period ranged from three to four years.

In 2015, the Company granted 3,154,800 nonvested to certain officers and employees. These nonvested shares vest over a period from three months to four years.

The holders of the nonvested shares are entitled to voting rights, but shall not be entitled to dividends before vesting.

The following table summarizes information regarding the nonvested shares granted and vested:

			Weighted average
			grant date
	Number of Shares		fair value

Outstanding at January 1, 2015	2,583,337		$	2.58
Granted	3,154,800		$	2.22
Forfeited	(1,106,177	)	$	2.27
Vested	(1,316,696	)	$	2.12

Outstanding at December 31, 2015	3,315,264		$	2.52

The total fair value of shares vested during the years ended December 31, 2013, 2014 and 2015, was $3,453, $ 2,123 and $2,791 respectively.

For the years ended December 31, 2013, 2014 and 2015, the Group recorded share-based compensation expenses of $4,038 ,$2,227 and $3,191 related to the nonvested shares, respectively. As of December 31, 2015, there was $7,509 of unrecognized compensation costs related to nonvested shares, which are expected to be recognized over a weighted-average period of 3.02 years.

Total share-based compensation expenses for share options and nonvested shares for the years ended December 31, 2013, 2014 and 2015 were as follows:

	Year ended December 31,
	2013		2014		2015

Fulfillment	$	9	$	46	$	185
Selling and marketing	134		231		580
General and administrative	4,175		2,241		2,431

Total	$	4,318	$	2,518	$	3,196

INCOME TAXES

12 Months Ended

Dec. 31, 2015

INCOME TAXES

INCOME TAXES

12.INCOME TAXES

Cayman Islands

The Company is a tax-exempted company incorporated in the Cayman Islands and is not subject to tax on income or capital gains.

Hong Kong

Light In The Box, Lanting International and LightInTheBox Logistic are located in Hong Kong and subject to Hong Kong profits tax at 16.5% with respect to the profit generated from Hong Kong.

PRC

Except Lanting Huitong and Lanting Gaochuang, other entities of the Group domiciled in the PRC are subject to 25% statutory income tax rates in accordance with the Enterprise Income Tax Law (“EIT Law”) in the periods presented. Lanting Huitong qualified as a “software enterprise” and therefore enjoyed a two-year income tax exemption starting from 2010, the first profit making year, followed by a reduced tax rate of 12.5% for the subsequent three years. Lanting Huitong is subject to 25% statutory income tax rate starting from 2015. Lanting Gaochuang qualified as a “software enterprise” in 2012 and therefore is entitled to a two-year income tax exemption starting from 2013, its first profit making year, followed by a reduced tax rate of 12.5% for the subsequent three years.

For the years ended December 31, 2013, 2014 and 2015, income tax expense included in the consolidated statements of operations were attributable to the Group’s PRC subsidiary and VIEs and comprised current tax expense $69, $70 and $49, respectively. There was no material deferred tax expense for the years ended December 31, 2013, 2014 and 2015.

The principal components of the deferred tax assets and liabilities are as follows:

	As of December 31,
	2014			2015

Current deferred tax assets:
Accrued payroll	$	2,885		$	2,650
Accrued expenses	214			69
Accrued inventory provision	132			369
Less: Valuation allowance	(3,231		)	(3,088		)

Current deferred tax assets, net	—			—

Non-current deferred tax asset:
Net operating loss carry forwards	10,476			16,232
Less: Valuation allowance	(10,476		)	(16,232		)

Non-current deferred tax asset, net	—			—

Total deferred tax asset, net	$	—		$	—

The Group had no deferred tax liabilities as of December 31, 2013, 2014 and 2015.

The Group operates through its subsidiaries and VIEs and the valuation allowance is considered on each individual subsidiary and VIE basis. The net operating loss carry forwards of the subsidiaries and VIEs registered in the PRC will expire on various dates through 2020. The Group has recognized a full valuation allowance against deferred tax assets as the Group believes that it is more likely than not that its deferred tax assets will not be realized as it does not expect to generate sufficient taxable income in the near future.

Movement of valuation allowance

	As of December 31,
	2014			2015

Balance at beginning of the period	$	8,642		$	13,707
Additions	5,683			5,993
Reversals	(618		)	(380		)

Balance at end of the period	$	13,707		$	19,320

Reconciliation between the expense of income taxes computed by applying the PRC tax rate to loss before income taxes and the actual provision for income taxes is as follows:

	Years ended December 31,
	2013			2014			2015

Loss before provision of income tax	$	(4,750	)	$	(29,917	)	$	(39,324	)
Statutory tax rate in the PRC	25		%	25		%	25		%
Income tax at statutory tax rate	(1,187		)	(7,479		)	(9,831		)
Non-deductible expenses	225			92			8
Effect of income tax holiday and preferential tax rates	(62		)	(76		)	(25		)
Utilisation of tax loss previously not recognized	—			—			(298		)
Effect of income tax rate differences in jurisdictions other than the PRC	1,291			2,468			4,582
Changes in valuation allowances	(198		)	5,065			5,613

Income tax expense	$	69		$	70		$	49

The Group did not identify significant unrecognized tax benefits for the years ended December 31, 2014 and 2015. The Group did not incur any interest related to unrecognized tax benefits, did not recognized any penalties as income tax expenses and also does not anticipate any significant change in unrecognized tax benefits within 12 months from December 31, 2015.

Uncertainties exist with respect to how the current income tax law in the PRC applies to the Group’s overall operations, and more specifically, with regard to tax residency status. The EIT Law includes a provision specifying that legal entities organized outside of the PRC will be considered residents for Chinese Income tax purposes if the place of effective management or control is within the PRC. The implementation rules to the new EIT law provide that non-resident legal entities will be considered PRC residents if substantial and overall management and control over the manufacturing and business operations, personnel, accounting and properties occurs within the PRC. On April 22, 2009, the State Administration of Taxation (the “SAT”) issued the Notice Regarding the Determination of Chinese-Controlled Offshore Incorporated Enterprises as PRC Tax Resident Enterprises on the Basis of De Facto Management Bodies, or Circular 82, which provides certain specific criteria for determining whether the “de facto management body” of a Chinese-controlled offshore-incorporated enterprise is located in China. Circular 82, though technically only applies to China-controlled overseas registered enterprises, has made detailed explanations and clarification with respect to “substantial and overall management and control” over production and business operations, personnel, accounting and properties which provides a general guidance for the determination of PRC tax resident. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Group does not believe that the legal entities organized outside of the PRC within the Group should be treated as residents for EIT law purposes. However, if the PRC tax authorities subsequently determine that the Company and its subsidiaries registered outside the PRC should be deemed resident enterprises, the Company and its subsidiaries registered outside the PRC will be subject to the PRC income taxes, at a rate of 25%.

If any entity within the Group that is outside the PRC were to be a non-resident for PRC tax purposes dividends paid to it out of profits earned after January 1, 2008 would be subject to a withholding tax at a rate of 10%, subject to reduction by an applicable tax treaty with the PRC. As of December 31, 2014 and December 31, 2015, the Company’s subsidiaries located in the PRC recorded aggregate accumulated deficits. Accordingly, no deferred tax liability has been accrued for the Chinese dividend withholding taxes. In the future, aggregate undistributed earnings of the Company’s subsidiaries located in the PRC, if any, that are taxable upon distribution to the Company, will be considered to be indefinitely reinvested, because the Group does not have any plan to pay cash dividends on its ordinary shares in the foreseeable future and intends to retain most of its available funds and any future earnings for use in the operation and expansion of its business.

In accordance with relevant the PRC tax administration laws, tax years from 2010 to 2014 of the Group’s PRC entities remain subject to tax audits as of December 31, 2015, at the tax authority’s discretion.

LOSS PER SHARE

12 Months Ended

Dec. 31, 2015

LOSS PER SHARE

LOSS PER SHARE

13.LOSS PER SHARE

The following table sets forth the computation of basic and diluted net loss per ordinary share for the following years:

	2013			2014			2015

Numerator:
Net loss	$	(4,819	)	$	(29,987	)	$	(39,407	)
Accretion of Series C convertible redeemable preferred shares	1,621			—			—
Net income attributable to Series C preferred shares for computing basic net income per Series C preferred share	1,621			—			—

Net loss attributable to ordinary shareholders of LightInTheBox Holding Co., Ltd.	(6,440		)	(29,987		)	(39,407		)

Net loss attributable to shareholders of the Company allocated for computing net loss per ordinary share-basic	(6,440		)	(29,987		)	(39,407		)

Net loss per ordinary share-basic	$	(0.09	)	$	(0.30	)	$	(0.41	)
Net loss per ordinary share-diluted	$	(0.09	)	$	(0.30	)	$	(0.41	)
Net income per Series C preferred share	$	0.38		$	—		$	—


Numerator
Shares (denominator):
Weighted average number of shares used in calculating net loss per Series C preferred share —basic	4,257,266			—			—
Weighted average number of shares used in calculating net loss per ordinary share —basic	71,555,449			99,001,560			94,970,054

As a result of the Group’s net loss for each of the three years ended December 31, 2015, 1,562,850, 2,506,300 and 1,374,050 options outstanding and 995,202, 2,583,337 and 3,315,264 nonvested shares outstanding as of December 31, 2013, 2014 and 2015 respectively, were excluded from the computation of diluted net loss per share as their inclusion would have been anti-dilutive.

EMPLOYEE RETIREMENT BENEFIT	12 Months Ended
EMPLOYEE RETIREMENT BENEFIT	Dec. 31, 2015
EMPLOYEE RETIREMENT BENEFIT
EMPLOYEE RETIREMENT BENEFIT	14.EMPLOYEE RETIREMENT BENEFIT Full time employees in the PRC participate in a government-mandated defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. The PRC labor regulations require the Group to make contributions based on certain percentages of the employees’ basic salaries. Other than the contribution, there is no further obligation under these plans. The total contribution for such employee benefits was $5,603, $5,544, and $5,159 for the years ended December 31, 2013, 2014 and 2015, respectively.

STATUTORY RESERVES AND RESTRICTED NET ASSETS	12 Months Ended
STATUTORY RESERVES AND RESTRICTED NET ASSETS	Dec. 31, 2015
STATUTORY RESERVES AND RESTRICTED NET ASSETS
STATUTORY RESERVES AND RESTRICTED NET ASSETS	15.STATUTORY RESERVES AND RESTRICTED NET ASSETS In accordance with the PRC laws and regulations, the group is required to provide for certain statutory reserves, namely general reserve, enterprise expansion reserve, and staff welfare and bonus reserve, all of which are appropriated from net profit as reported in their PRC statutory accounts. The Group’s subsidiaries are required to allocate at least 10% of their after-tax profits to the general reserve until such reserve has reached 50% of their respective registered capital. Appropriations to the enterprise expansion reserve and the staff welfare and bonus reserve are to be made at the discretion of the board of directors of each of the Group’s subsidiaries. There are no appropriations to these reserves by the Group’s PRC (mainland) subsidiaries for the years ended December 31, 2013, 2014 and 2015. As a result of these PRC laws and regulations and the requirement that distributions by the PRC entities can only be paid out of distributable profits computed in accordance with the PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Group. Amounts restricted include paid-in capital and the statutory reserves of the Company’s PRC subsidiaries and VIEs. As of December 31, 2015, the amounts of capital represented the amount of net assets of the relevant subsidiaries and VIEsin the Group not available for distribution amounted to $5,089.

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2015

SEGMENT REPORTING

SEGMENT REPORTING

16.SEGMENT REPORTING

The Group’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group has one operating segment.

Components of the Group’s net revenues are presented in the following table:

	For the years ended December 31,
	2013		2014		2015

Apparel	$	86,459	$	138,570	$	123,113
Other general merchandise	205,958		243,837		200,650

Total net revenues	$	292,417	$	382,407	$	323,763

The following table summarizes the Group’s total net revenues generated in different geographic locations and as a percentage of total net revenues.

	For the years ended December 31,
	2013			2014			2015
	Revenues		%	Revenues		%	Revenues		%

Europe	$	182,958	62.5	$	239,176	62.5	$	191,361	59.1
North America	54,858		18.8	81,675		21.4	92,430		28.5
Other countries	54,601		18.7	61,556		16.1	39,972		12.4

Total net revenues	$	292,417	100	$	382,407	100	$	323,763	100

North America’s net revenues include revenues from the United States of, $46,136, $65,376 and $77,407 during the years ended December 31, 2013, 2014 and 2015 respectively. Europe’s net revenues include revenues from France of $42,504, $52,264 and $41,161 during the years ended December 31, 2013, 2014 and 2015, respectively.

As of December 31, 2013, 2014 and 2015 substantially all of long-lived assets of the Group are located in the PRC.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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+ Details

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	17.FAIR VALUE MEASUREMENTS The Group had no financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, 2014 and 2015. Goodwill and other intangible assets are measured at fair value on a nonrecurring basis when impairment is recognized. The Group estimated the fair value of a reporting unit using the discounted cash flow method under the income approach. The discounted cash flows were based on five years financial forecasts developed by management for planning purposes and estimated discount rates. Cash flows beyond the forecasted period were estimated using a terminal value calculation. The fair values of intangible asset were determined based on various valuation methods, including the replacement cost method the relief from royalty method.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	18.RELATED PARTY TRANSACTIONS The Group entered into indemnification agreements with certain directors. These agreements require the company to indemnify such individuals, to the fullest extent permitted by law, for certain liabilities to which they may become subject to as a result of their affiliation with the Company.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2015

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

19.COMMITMENTS AND CONTINGENCIES

(1)Commitments

Lease commitment

The Group has operating lease agreements for warehouses and offices. Rent expenses under operating leases for the years ended December 31, 2013, 2014 and 2015 were $3,005, $3,906 and $4,461 respectively. Future minimum lease payments under non-cancellable operating lease agreements as of December 31, 2015 are as follows:

2016	$	2,286
2017	1,258
2018	842

	$	4,386

(2)Contingencies

The Group’s PRC subsidiaries and VIEs, have not fully paid the contributions for employee benefit plans as required by applicable PRC regulations. While the Group believes it has made adequate provision of such outstanding amounts in the consolidated financial statements, prior failure to make payments may be in violation of applicable PRC labor-related laws and the Group may be subject to fines up to maximum of 3 times if it fails to rectify any such breaches within the period prescribed by the relevant authorities. As of December 31, 2015, there had been no actions initiated by the relevant authorities. The Group is unable to reasonably estimate the actual amount of fines and penalty that may rise if the authorities were to become aware of the non-compliance and were to take action.

The Group’s PRC subsidiaries and VIEs did not withhold appropriate amount of individual income tax prior to its IPO as required by applicable PRC tax laws. While the Group believes it has made adequate provision of such outstanding amounts in the consolidated financial statements, and in March 2013, the accrued amounts were substantially paid by the Group on a voluntary basis to the relevant tax authority, the Group may still be subject to future fines or levies for such non-compliance. As of December 31, 2015, there had been no actions initiated by the relevant authorities. The Group is unable to reasonably estimate the actual amount of fines or levies that may rise if the authorities were to take action.

The Group is subject to periodic legal or administrative proceedings in the ordinary course of business. The Group does not believe that any currently pending legal or administrative proceeding to which the Group is a party will have a material effect on its business or financial condition.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	20.SUBSEQUENT EVENTS On March 17, 2016, the Company entered into an agreement with a subsidiary of Zall Development Group Ltd. (HKSE Code: 2098) (“Zall Development), a developer and operator of large-scale consumer product wholesale shopping malls in China. Under the terms of this agreement, the Group has agreed to issue to Zall Development, a total of 42,500,000 ordinary shares (equivalent to 21,250,000 ADSs), representing a 30% equity interest in the Group on a fully diluted basis for a total cash consideration of $76,500. In connection with the issuance of ordinary shares, the Group also agreed to issue a warrant to Zall Development for up to 7,455,000 ordinary shares (equivalent to 3,737,500 ADS) at an exercise price of $2.75 per ordinary share. The warrant is exercisable starting six months after the closing, and terminate 24 months after closing. Zall Development has the right to appoint two directors out of five to the Group’s board of directors, among other things, and the Group has granted Zall Development certain registration and anti-dilution rights. The Group has received the cash consideration of $76,500 on March 24, 2016 and the transaction was closed on March 30, 2016.

Schedule I Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2015

Schedule I Condensed Financial Information of Parent Company

Schedule I Condensed Financial Information of Parent Company

Additional Information—Financial Statement Schedule I

Condensed Financial Information of Parent Company

BALANCE SHEETS

(U.S. dollars in thousands, except share data and per share data, or otherwise noted)

	December 31,
	2014			2015
ASSETS
Current assets
Cash and cash equivalents	$	53,691		$	10,083
Term deposit	5,802			—
Prepaid expense and other current assets	774			551
Amounts due from subsidiaries and VIEs	57,025			95,259
Deficit in subsidiaries and VIEs	(72,749		)	(106,181		)


TOTAL ASSETS	$	44,543		$	(288	)


LIABILITIES AND EQUITY

Current Liabilities
Accrued expenses and other current liabilities	$	1,360		$	1,835
TOTAL LIABILITIES	$	1,360		$	1,835


EQUITY (DEFICIT)
Ordinary shares ($0.000067 par value; 750,000,000 shares authorized; 100,354,801 and 101,847,447 shares issued as of December 31, 2014 and December 31, 2015, respectively; 96,617,349 and 94,456,773 shares outstanding as of December 31, 2014 and December 31, 2015, respectively)	$	7		$	7
Additional paid-in capital	155,872			159,190
Accumulated deficit	(101,608		)	(141,015		)
Accumulated other comprehensive loss	(131		)	(309		)
Treasury shares, at cost (3,737,452 and 7,390,674 shares as of December 31, 2014, and December 31, 2015 respectively)	(10,957		)	(19,996		)

TOTAL EQUITY (DEFICIT)	43,183			(2,123		)

TOTAL LIABILITIES AND EQUITY	$	44,543		$	(288	)

Additional Information—Financial Statement Schedule I

Condensed Financial Information of Parent Company

STATEMENTS OF OPERATIONS

(U.S. dollars in thousands)

	Years ended December 31
	2013			2014			2015

Operating expenses:
General and administrative	$	(4,312	)	$	(6,949	)	$	(6,554	)

Loss from operations	(4,312		)	(6,949		)	(6,554		)

Equity in losses of subsidiaries and VIEs	(716		)	(25,325		)	(33,570		)
Interest income	209			2,287			717

Net loss	(4,819		)	(29,987		)	(39,407		)
Accretion for Series C convertible redeemable preferred shares	(1,621		)	—			—

Net loss attributable to ordinary shareholders	$	(6,440	)	$	(29,987	)	$	(39,407	)

Additional Information—Financial Statement Schedule I

Condensed Financial Information of Parent Company

STATEMENTS OF COMPREHENSIVE LOSS

(U.S. dollars in thousands)

	Years ended December 31
	2013			2014			2015

Net loss	$	(4,819	)	$	(29,987	)	$	(39,407	)
Other comprehensive loss, net of tax:
Foreign currency translation adjustment, net of tax of nil	(89		)	(12		)	(178		)

Total comprehensive loss	$	(4,908	)	$	(29,999	)	$	(39,585	)

Additional Information—Financial Statement Schedule I

Condensed Financial Information of Parent Company

STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)

	Years ended December 31
	2013			2014			2015

Net loss	$	(4,819	)	$	(29,987	)	$	(39,407	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share-based compensation	4,318			2,518			3,196
Equity in losses of subsidiaries and VIEs	716			25,325			33,570
Changes in operating assets and liabilities:
Prepaid expense and other current assets	(2,014		)	854			856
Accrued expenses and other current liabilities	1,267			139			(475		)

Net cash used in operating activities	(532		)	(1,151		)	(2,260		)

Cash flows from investing activities
Purchase of term deposit	(79,958		)	(81,557		)	(14,380		)
Maturity of term deposit	—			155,713			20,182
Amounts due from subsidiaries and VIEs	4,316			(12,898		)	(37,926		)

Net cash (used in) provided by investing activities	(75,642		)	61,258			(32,124		)

Cash flows from financing activities
Proceeds from exercise of share options	193			230			122
Proceeds from initial public offering	75,030			—			—
Repurchase of ordinary shares	—			(10,650		)	(9,346		)
Payment of professional fees related to initial public offering	(3,127		)	—			—

Net cash provided by (used in) financing activities	72,096			(10,420		)	(9,224		)

Net (decrease) increase in cash and cash equivalents	(4,078		)	49,687			(43,608		)
Cash and cash equivalents at beginning of year	8,082			4,004			53,691

Cash and cash equivalents at end of year	$	4,004		$	53,691		$	10,083

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

NOTES TO SCHEDULE I

(U.S. dollars in thousands, except share data and per share data, or otherwise noted)

1.BASIS FOR PREPARATION

The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Group’s consolidated financial statements except that the parent company used the equity method to account for deficit in its subsidiaries and VIEs.

The condensed financial information is provided since the restricted net assets of the Group’s subsidiaries and VIEs were over the 25% of the consolidated net assets of the Group as of December 31, 2015.

2.INVESTMENTS IN SUBSIDIARIES AND VIES

In its consolidated financial statements, the parent company consolidates the results of operations and assets and liabilities of its subsidiaries and VIEs, and inter-company balances and transactions were eliminated upon consolidation. For the purpose of the parent company’s stand-alone financial statements, its deficit in subsidiaries and VIEs are reported using the equity method of accounting as a single line item and the parent company’s share of income (loss) from its subsidiaries and VIEs are reported as the single line item of equity in losses of subsidiaries and VIEs. Ordinarily under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of a subsidiary or VIE regardless of the carrying value of the investment even though the parent company is not obligated to provide continuing support or fund losses.

The parent company carried the deficit in subsidiaries and VIEs at $72,749 and $106,181 at December 31, 2014 and 2015, respectively. The parent company’s share of equity in losses in subsidiaries and VIEs recognized in years ended December 31, 2013, 2014 and 2015 was $716, $25,325 and $33,570, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of consolidation

The consolidated financial statements include the financial statements of the Group, its subsidiaries and its VIEs. All inter-company transactions and balances are eliminated upon consolidation.

Use of estimates

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and term deposits with an original maturity of three months or less.

Property and equipment, net

		Useful lives

Leasehold improvements		Lesser of the lease term or estimated useful life of the assets
Furniture, fixtures and office equipment		5 years
Software and IT equipment		3 years

Acquired intangible assets, net

Identifiable intangible assets are carried at cost less accumulated amortization. Amortization of technology and members are computed using the straight-line method over the estimated useful lives.

		Useful lives

Domain name/Tradename		Indefinite life
Technology		3 Years
Members		4 Years

Long-term investment

Impairment of long-lived assets and intangible assets with definite life

Long-lived assets, such as property and equipment and definite-lived intangible assets, are stated at cost less accumulated depreciation or amortization.

Impairment of Goodwill and Indefinite-lived intangible assets

Business combinations

Treasury stock

Revenue recognition

Revenue is stated net of value added tax (“VAT”) and return allowances.

The Group recognizes revenue from the sale of apparel and other general merchandise through its websites and other online platforms.

The Group recognizes revenue when the following four revenue recognition criteria are met:

(i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the selling price is fixed or determinable, and (iv) collectability is reasonably assured.

Cost of goods sold

Fulfillment

Selling and marketing

General and administrative

Fair value

Level 1-inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.

Financial instruments

Foreign currency translation

Income taxes

Comprehensive loss

Comprehensive loss includes net loss and foreign currency translation adjustments and is reported in the consolidated statements of comprehensive loss.

Share-based compensation

Operating leases

Loss per share

Basic loss per ordinary share is computed by dividing net loss attributable to ordinary shareholders by weighted average number of ordinary shares outstanding during the period.

Significant risks and uncertainties

Concentration of credit risk

Foreign currency risk

Recent accounting pronouncements

Step 1: Identify the contract (s) with a customer.

Step 2: Identify the performance obligations in the contract.

Step 3: Determine the transaction price.

Step 4: Allocate the transaction price to the performance obligations in the contract.

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

The new guidance makes targeted improvements to existing U.S. GAAP by:

Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;

Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2015

ORGANIZATION AND PRINCIPAL ACTIVITIES

Schedule of the Company's subsidiaries, VIEs and VIE's subsidiary

As of December 31, 2015, details of the Company’s subsidiaries and VIEs are as follows:

	Later of acquisition/ Incorporation	Place of incorporation	Percentage of legal ownership	Principal activities
Subsidiaries
Light In The Box Limited (“Light In The Box”)	June 13,2007	Hong Kong	100%	Online retail
Lanting International Holding Limited (“Lanting International”)	December 19,2013	Hong Kong	100%	Investment holding
LightInTheBox International Logistic Co., Ltd. (“LightInTheBox Logistic”)	December 3,2010	Hong Kong	100%	Logistic
LITB, Inc.	December 18,2013	United States	100%	Marketing and software development and technology support
Lightinthebox Trading(Shenzhen) Co., Ltd. (“Lanting Jishi”)	October 21,2008	People’s Republic of China	100%	Online retail
Light In The Box(Suzhou) Trading Co., Limited (“Lanting Suzhou”)	December 2,2013	People’s Republic of China	100%	Online retail
Light In The Box (Chengdu) Technology Co., Limited	November 11, 2014	People’s Republic of China	100%	Software development and information technology support
LightInTheBox (UK) Limited	May 26,2009	United Kingdom	100%	Inactive
LITB Netherlands B.V.	September 22, 2014	Netherlands	100%	Marketing
LITB Poland Sp. zo.o.	January 23, 2015	Poland	100%	Inactive

VIEs
Shenzhen Lanting Huitong Technologies Co., Ltd. (“Lanting Huitong”)	June 24,2008	People’s Republic of China	Consolidated VIE	Software development and information technology support
Beijing Lanting Gaochuang Technologies Co., Ltd. (“Lanting Gaochuang”)	December 6,2011	People’s Republic of China	Consolidated VIE	Software development and information technology support

VIE’s (Lanting Huitong’s) wholly owned subsidiary
Shanghai Ouku Network Technologies Co., Ltd. (“Shanghai Ouku”)	August 24,2010	People’s Republic of China	VIE’s subsidiary	Online retail

Consolidated financial information of the Group's VIE and their subsidiaries included in consolidated financial statements after elimination of intercompany balances and transactions within the Group

	As of		As of
	December 31,		December 31,
	2014		2015

Total assets	$	2,988	$	227
Total liabilities	$	2,274	$	1,782

	Year ended December 31,
	2013			2014			2015

Net revenues	$	300		$	58		$	5
Net loss	$	(179	)	$	(725	)	$	(128	)

	Year ended December 31,
	2013			2014			2015

Net cash provided by (used in) operating activities	$	647		$	769		$	(247	)
Net cash (used in) provided by investing activities	$	(798	)	$	(895	)	$	44
Net cash provided by financing activities	$	—		$	—		$	—

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of property and equipment

		Useful lives

Leasehold improvements		Lesser of the lease term or estimated useful life of the assets
Furniture, fixtures and office equipment		5 years
Software and IT equipment		3 years

Schedule of estimated useful lives of identifiable intangible assets

		Useful lives

Domain name/Tradename		Indefinite life
Technology		3 Years
Members		4 Years

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2015

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Schedule of components of other current assets which are included in the prepaid expenses and other current assets

	As of December 31,
	2014		2015
Receivable from processing agencies (1)	$	2,332	$	2,329
Prepayment to suppliers	1,166		1,554
Interest receivable	297		—
Rental deposits and prepaid rents	414		218
Staff advance	24		63
Others	956		889

Total	$	5,189	$	5,053

(1)

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2015

PROPERTY AND EQUIPMENT, NET

Schedule of components of property and equipment

	As of December 31,
	2014			2015
Leasehold improvements	$	3,723		$	3,887
Furniture, fixtures and office equipment	2,431			2,440
Software and IT equipment	3,059			3,013

Property and equipment, gross	9,213			9,340
Less: Accumulated depreciation	(5,549		)	(7,131		)

Property and equipment, net	$	3,664		$	2,209

ACQUIRED INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2015

ACQUIRED INTANGIBLE ASSETS, NET

Schedule of intangible assets

	December 31, 2014										December 31, 2015
	Gross					Accumulated			Net		Gross					Accumulated			Net
	carrying		Accumulated			impairment			carrying		carrying		Accumulated			impairment			carrying
	amount		amortization			loss			amount		amount		amortization			loss			amount

Intangible assets not subject to amortization:
Trademark/Domain Name	$	1,220	$	—		$	(1,010	)	$	210	$	1,220	$	—		$	(1,010	)	$	210

Intangible assets subject to amortization:
- Technology Platform	90		(90		)	—			—		90		(90		)	—			—
- Non-compete Agreement	9		(7		)	(2		)	—		9		(7		)	(2		)	—
- Customer Base	32		(22		)	(10		)	—		32		(22		)	(10		)	—
- Technology	36		(12		)	—			24		36		(24		)	—			12
- Members	20		(5		)	—			15		20		(10		)	—			10

	$	1,407	$	(136	)	$	(1,022	)	$	249	$	1,407	$	(153	)	$	(1,022	)	$	232

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2015

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Schedule of accrued expenses and other current liabilities

	As of December 31,
	2014		2015

Accrued payroll and staff welfare	$	13,154	$	12,817
Individual income tax withheld	621		605
VAT payable	327		301
Accrued professional fees	2,284		1,808
Accrued advertising fees	5,343		634
Credit card processing charges	449		376
Accrued sales return (1)	1,417		2,465
Other accrued expenses	1,474		977

Total	$	25,069	$	19,983

(1)

	As of December 31,
	2014			2015

Balance at January 1	$	751		$	1,417
Allowance for sales return made in the year	14,418			17,491
Utilization of accrued sales return	(13,752		)	(16,443		)

Balance at December 31	$	1,417		$	2,465

Schedule of movements in accrued sales return

	As of December 31,
	2014			2015

Balance at January 1	$	751		$	1,417
Allowance for sales return made in the year	14,418			17,491
Utilization of accrued sales return	(13,752		)	(16,443		)

Balance at December 31	$	1,417		$	2,465

SHARE OPTIONS (Tables)

12 Months Ended

Dec. 31, 2015

SHARE OPTIONS

Schedule of assumptions used for estimating the fair value of each option granted on the date of grant

	2014	2015

Risk-free interest rate	3.75%-4.05%	3.59	%
Exercise multiple	2.2-2.8	2.2
Expected volatility	57.09%-63.88%	61.2	%
Expected dividend yield	0%	0	%
Fair value of ordinary shares	$2.53-$3.26	$ 1.28

Summary of the stock option activity under the 2008 Plan

			Weighted average
			exercise price
	Options granted		per option

Outstanding at January 1, 2015	2,506,300		$	2.35
Granted	546,400		$	2.25
Exercised	(175,950	)	$	2.31
Cancelled	(139,000	)	$	4.62
Forfeited	(1,363,700	)	$	2.47

Outstanding at December 31, 2015	1,374,050		$	1.98

Summary of information regarding the share options granted

	As of December 31, 2015
				Weighted-
		Weighted-		average remaining
		average exercise		contractual	Aggregate
	Options Number	price per option		life (years)	intrinsic value

Options
Outstanding	1,374,050	$	1.98	7.49	$	291
Exercisable	755,550	$	1.66	7.49	$	291
Expected to vest	494,800	$	2.37	9.18	$	—

NONVESTED SHARES (Tables)

12 Months Ended

Dec. 31, 2015

NONVESTED SHARES

Summary of information regarding the nonvested shares granted and vested

			Weighted average
			grant date
	Number of Shares		fair value

Outstanding at January 1, 2015	2,583,337		$	2.58
Granted	3,154,800		$	2.22
Forfeited	(1,106,177	)	$	2.27
Vested	(1,316,696	)	$	2.12

Outstanding at December 31, 2015	3,315,264		$	2.52

Schedule of share-based compensation expenses

	Year ended December 31,
	2013		2014		2015

Fulfillment	$	9	$	46	$	185
Selling and marketing	134		231		580
General and administrative	4,175		2,241		2,431

Total	$	4,318	$	2,518	$	3,196

INCOME TAXES (Table)

12 Months Ended

Dec. 31, 2015

INCOME TAXES

Schedule of principal components of the deferred tax assets and liabilities

	As of December 31,
	2014			2015

Current deferred tax assets:
Accrued payroll	$	2,885		$	2,650
Accrued expenses	214			69
Accrued inventory provision	132			369
Less: Valuation allowance	(3,231		)	(3,088		)

Current deferred tax assets, net	—			—

Non-current deferred tax asset:
Net operating loss carry forwards	10,476			16,232
Less: Valuation allowance	(10,476		)	(16,232		)

Non-current deferred tax asset, net	—			—

Total deferred tax asset, net	$	—		$	—

Schedule of movement of valuation allowance

	As of December 31,
	2014			2015

Balance at beginning of the period	$	8,642		$	13,707
Additions	5,683			5,993
Reversals	(618		)	(380		)

Balance at end of the period	$	13,707		$	19,320

Schedule of reconciliation between the expense (benefit) of income taxes computed by applying the PRC tax rate to income (loss) before income taxes and the actual provision for income taxes

	Years ended December 31,
	2013			2014			2015

Loss before provision of income tax	$	(4,750	)	$	(29,917	)	$	(39,324	)
Statutory tax rate in the PRC	25		%	25		%	25		%
Income tax at statutory tax rate	(1,187		)	(7,479		)	(9,831		)
Non-deductible expenses	225			92			8
Effect of income tax holiday and preferential tax rates	(62		)	(76		)	(25		)
Utilisation of tax loss previously not recognized	—			—			(298		)
Effect of income tax rate differences in jurisdictions other than the PRC	1,291			2,468			4,582
Changes in valuation allowances	(198		)	5,065			5,613

Income tax expense	$	69		$	70		$	49

LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2015

LOSS PER SHARE

Schedule of computation of basic and diluted net loss per ordinary share

	2013			2014			2015

Numerator:
Net loss	$	(4,819	)	$	(29,987	)	$	(39,407	)
Accretion of Series C convertible redeemable preferred shares	1,621			—			—
Net income attributable to Series C preferred shares for computing basic net income per Series C preferred share	1,621			—			—

Net loss attributable to ordinary shareholders of LightInTheBox Holding Co., Ltd.	(6,440		)	(29,987		)	(39,407		)

Net loss attributable to shareholders of the Company allocated for computing net loss per ordinary share-basic	(6,440		)	(29,987		)	(39,407		)

Net loss per ordinary share-basic	$	(0.09	)	$	(0.30	)	$	(0.41	)
Net loss per ordinary share-diluted	$	(0.09	)	$	(0.30	)	$	(0.41	)
Net income per Series C preferred share	$	0.38		$	—		$	—


Numerator
Shares (denominator):
Weighted average number of shares used in calculating net loss per Series C preferred share —basic	4,257,266			—			—
Weighted average number of shares used in calculating net loss per ordinary share —basic	71,555,449			99,001,560			94,970,054

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2015

SEGMENT REPORTING

Schedule of components of the Group's net revenues

	For the years ended December 31,
	2013		2014		2015

Apparel	$	86,459	$	138,570	$	123,113
Other general merchandise	205,958		243,837		200,650

Total net revenues	$	292,417	$	382,407	$	323,763

Summary of Group's total net revenues generated in different geographic locations and as a percentage of total net revenues

	For the years ended December 31,
	2013			2014			2015
	Revenues		%	Revenues		%	Revenues		%

Europe	$	182,958	62.5	$	239,176	62.5	$	191,361	59.1
North America	54,858		18.8	81,675		21.4	92,430		28.5
Other countries	54,601		18.7	61,556		16.1	39,972		12.4

Total net revenues	$	292,417	100	$	382,407	100	$	323,763	100

COMMITMENTS AND CONTINGENCIES (Table)

12 Months Ended

Dec. 31, 2015

COMMITMENTS AND CONTINGENCIES

Schedule of future minimum lease payments under non-cancellable operating lease agreements

Future minimum lease payments under non-cancellable operating lease agreements as of December 31, 2015 are as follows:

2016	$	2,286
2017	1,258
2018	842

	$	4,386

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) - item	1 Months Ended
ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) - item	Jun. 30, 2007	Dec. 31, 2015
Light In The Box
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Number of founding shareholders	5
Percentage of legal ownership		100.00%
Lanting International
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
LightInTheBox Logistic
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
LITB, Inc.
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
Lightinthebox Trading (Shenzhen) Co., Limited (WFOE or Lanting Jishi)
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
Lanting Suzhou
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
Light In The Box (Chengdu) Technology, Co Limited
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
LightInTheBox (UK) Limited
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
LITB Netherlands B.V.
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%
LITB Poland Sp. zo.o.
Details of the entity's subsidiaries, its VIEs and VIE's subsidiary
Percentage of legal ownership		100.00%

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details 2) - 12 months ended Dec. 31, 2011 - Consolidated VIEs $ in Thousands	CNY (¥)	USD ($)
Lanting Gaochuang \| CEO
The VIE arrangements
Ownership interest in VIE (as a percent)	51.00%
Lanting Gaochuang \| Lanting Huitong
The VIE arrangements
Ownership interest in VIE (as a percent)	49.00%
Lightinthebox Trading (Shenzhen) Co., Limited (WFOE or Lanting Jishi) \| CEO
Loan Agreement
Amount of loan extended	¥ 255,000	$ 41
Loan agreement term	10 years

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated financial information of the Group's VIE and its subsidiaries included in consolidated financial statements
Net revenues	$ 323,763	$ 382,407	$ 292,417
Net loss	(39,407)	(29,987)	(4,819)
Net cash provided by (used in) operating activities	(37,901)	(6,889)	15,152
Net cash (used in) provided by investing activities	3,138	69,181	(83,552)
Net cash provided by financing activities	(9,224)	(10,420)	72,096
VIE and its subsidiaries
Consolidated financial information of the Group's VIE and its subsidiaries included in consolidated financial statements
Total assets	227	2,988
Total liabilities	1,782	2,274
Net revenues	5	58	300
Net loss	(128)	(725)	(179)
Net cash provided by (used in) operating activities	(247)	769	647
Net cash (used in) provided by investing activities	44	$ (895)	$ (798)
Amount of consolidated VIEs' assets that are collateral for the VIEs' obligations	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounts receivable
Allowance for doubtful accounts	$ 0	$ 0
Furniture, fixtures and office equipment
Property and equipment, net
Useful lives	5 years
Software and IT equipment
Property and equipment, net
Useful lives	3 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Revenue recognition
Number of criteria to be met prior to recognition of revenue \| item	4
Return period, subsequent to the receipt of shipment	30 days	7 days
Shipping costs	$ 80,915	$ 94,509	$ 63,917
VAT on sales as a percentage on revenue from the sale of products	17.00%
General and administrative
Chargeback incurred	$ 1,227	748	1,036
Foreign currency risk \| Denominated in RMB
Foreign currency risk
Cash and cash equivalents, term deposit and restricted cash	$ 6,939	$ 48,144	$ 56,602

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Receivable from processing agencies	$ 2,329	$ 2,332
Prepayment to suppliers	1,554	1,166
Interest receivable		297
Rental deposits and prepaid rents	218	414
Staff advance	63	24
Others	889	956
Total	$ 5,053	$ 5,189

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property and equipment, net
Property and equipment, gross	$ 9,340	$ 9,213
Less: Accumulated depreciation	(7,131)	(5,549)
Property and equipment, net	2,209	3,664
Depreciation expense	2,118	1,838	$ 1,361
Leasehold improvements
Property and equipment, net
Property and equipment, gross	3,887	3,723
Furniture, fixtures and office equipment
Property and equipment, net
Property and equipment, gross	2,440	2,431
Software and IT equipment
Property and equipment, net
Property and equipment, gross	$ 3,013	$ 3,059

GOODWILL (Details) - Ador $ in Thousands	1 Months Ended
GOODWILL (Details) - Ador $ in Thousands	Dec. 31, 2013 USD ($)
GOODWILL
Net working capital	$ 44
Goodwill acquired during the year	690
Other intangible assets	$ 266

ACQUIRED INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquired intangible assets, net
Gross carrying amount	$ 1,407	$ 1,407
Less: Accumulated amortization	(153)	(136)
Less: Accumulated impairment loss	(1,022)	(1,022)
Net carrying amount	232	249
Amortization expenses	17	17	$ 0
Expected amortization expenses
2016	17
2017	5
2018	0
Technology Platform
Acquired intangible assets, net
Gross carrying amount	90	90
Less: Accumulated amortization	(90)	(90)
Non-compete Agreement
Acquired intangible assets, net
Gross carrying amount	9	9
Less: Accumulated amortization	(7)	(7)
Less: Accumulated impairment loss	(2)	(2)
Customer Base
Acquired intangible assets, net
Gross carrying amount	32	32
Less: Accumulated amortization	(22)	(22)
Less: Accumulated impairment loss	(10)	(10)
Technology
Acquired intangible assets, net
Gross carrying amount	36	36
Less: Accumulated amortization	(24)	(12)
Net carrying amount	12	24
Members
Acquired intangible assets, net
Gross carrying amount	20	20
Less: Accumulated amortization	(10)	(5)
Net carrying amount	10	15
Trademark/Domain Name
Acquired intangible assets, net
Intangible assets not subject to amortization	1,220	1,220
Less: Accumulated impairment loss	(1,010)	(1,010)
Net carrying amount	$ 210	$ 210

LONG-TERM INVESTMENT (Details) - USD ($)		12 Months Ended
LONG-TERM INVESTMENT (Details) - USD ($)	Feb. 06, 2015	Dec. 31, 2015
LONG-TERM INVESTMENT
Loss from equity method investment		$ 34,000
Demon
LONG-TERM INVESTMENT
Percentage of equity interest	30.00%
Cash consideration	$ 2,100
Loss from equity method investment		$ 34,000

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Jan. 01, 2015	Dec. 31, 2014	Jan. 01, 2014
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued payroll and staff welfare			$ 12,817		$ 13,154
Individual income tax withheld			605		621
VAT payable			301		327
Accrued professional fees			1,808		2,284
Accrued advertising fees			634		5,343
Credit card processing charges			376		449
Accrued sales return	$ 1,417	$ 1,417	2,465	$ 1,417	1,417	$ 751
Other accrued expenses			977		1,474
Total			$ 19,983		$ 25,069
Movements in accrued sales return
Balance at the beginning of the period	1,417
Allowance for sales return made in the year	17,491	14,418
Utilization of accrued sales return	(16,443)	(13,752)
Balance at the end of the period	$ 2,465	$ 1,417

ORDINARY SHARES (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended			24 Months Ended
	Dec. 16, 2014	Jun. 30, 2013 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($)
Net proceeds from IPO		$ 75,030			$ 75,030
Offering costs		$ 4,235
Total consideration to share repurchase plan			$ 9,039	$ 10,957		$ 19,996
ADS
Issuance of ordinary shares (in share) \| shares		8,492,368
Issuing price per share \| $ / shares		$ 9.5
Ratio to ordinary share		2
Amount of stock repurchase plan authorized by the board of directors					$ 20,000
Period to repurchase shares					1 year
Additional Period to repurchase shares	12 months
Repurchase of outstanding shares (in share) \| shares			3,695,337	1,868,726
Repurchase of outstanding shares, equivalent to ordinary shares (in shares) \| shares			7,390,674	3,737,452

SHARE OPTIONS (Details) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
SHARE OPTIONS (Details) $ / shares in Units, $ in Thousands	Jun. 01, 2015 USD ($)	Oct. 27, 2008 shares	May. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2011 shares
Share options
Incremental compensation expenses \| $				$ 3,196	$ 2,518	$ 4,318
2008 Plan
Share options
Shares authorized to grant \| shares		4,444,444
Additional shares authorized to issue \| shares		6,900,000
2008 Plan \| Share options.
Share options
Vesting period		4 years
Vesting percentage at the end of the first year through the fourth year		25.00%
Expiration period		10 years
Shares options granted \| shares				546,400	1,797,300	307,250
Shares options cancelled \| shares			139,000	139,000
Cancelled (in dollars per share)			$ 4.62	$ 4.62
Incremental compensation expenses \| $				$ 5	$ 291	$ 280
Unrecognized incremental compensation cost \| $				$ 1,071
Weighted-average period of recognition of unrecognized compensation cost				2 years 11 months 23 days
Exercise price of shares options granted (in dollars per share)				$ 2.25		$ 4.75
Assumptions used for estimating the fair value of options granted on the date of grant
Risk-free interest rate, minimum (as a percent)				3.59%	3.75%
Risk-free interest rate, maximum (as a percent)					4.05%
Expected volatility, minimum (as a percent)				61.20%	57.09%
Expected volatility, maximum (as a percent)					63.88%
Expected dividend yield (as a percent)				0.00%	0.00%
2008 Plan \| Share options. \| Minimum
Share options
Vesting period				3 months	3 years	3 years
Exercise price of shares options granted (in dollars per share)					$ 1.84
Assumptions used for estimating the fair value of options granted on the date of grant
Exercise multiple				2.2	2.2
Fair value of ordinary shares (in dollars per share)				$ 1.28	$ 2.53
2008 Plan \| Share options. \| Maximum
Share options
Vesting period				4 years	4 years	4 years
Exercise price of shares options granted (in dollars per share)					$ 3.26
Assumptions used for estimating the fair value of options granted on the date of grant
Exercise multiple					2.8
Fair value of ordinary shares (in dollars per share)					$ 3.26
2008 Plan \| Nonvested shares.
Share options
Vesting period							4 years
Nonvested shares granted \| shares			139,000	3,154,800	2,800,300	711,571	1,820,010
Incremental compensation expenses \| $	$ 210		$ 90	$ 3,191	$ 2,227	$ 4,038
Unrecognized incremental compensation cost \| $			$ 120
Weighted-average period of recognition of unrecognized compensation cost				3 years 7 days
2008 Plan \| Nonvested shares. \| Minimum
Share options
Vesting period				3 months	3 years	2 years
Weighted-average period of recognition of unrecognized compensation cost			3 months
2008 Plan \| Nonvested shares. \| Maximum
Share options
Vesting period				4 years	4 years	4 years
Weighted-average period of recognition of unrecognized compensation cost			2 years

SHARE OPTIONS (Details 2) - 2008 Plan - Share options. - $ / shares	1 Months Ended	12 Months Ended
	May. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Options granted
Granted (in shares)		546,400	1,797,300	307,250
Exercised (in shares)		(175,950)
Cancelled (in shares)	(139,000)	(139,000)
Forfeited (in shares)		(1,363,700)
Balance at the end of the period (in shares)		1,374,050
Weighted average exercise price per option
Granted (in dollars per share)		$ 2.25		$ 4.75
Exercised (in dollars per share)		2.31
Cancelled (in dollars per share)	$ 4.62	4.62
Forfeited (in dollars per share)		2.47
Balance at the end of the period (in dollars per share)		1.98
Weighted average fair value per option at grant date
Granted (in dollars per share)		$ 1.28	$ 1.42	$ 2.45

SHARE OPTIONS (Details 3) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 01, 2015
Additional disclosures
Share-based compensation expense	$ 3,196	$ 2,518	$ 4,318
2008 Plan \| Share options.
Options Number
Outstanding (in shares)	1,374,050			2,506,300
Exercisable (in shares)	755,550
Expected to vest (in shares)	494,800
Weighted-average exercise price per option
Outstanding (in dollars per share)	$ 1.98			$ 2.35
Exercisable (in dollars per share)	1.66
Expected to vest (in dollars per share)	$ 2.37
Weighted-average remaining contractual life (years)
Outstanding	7 years 5 months 27 days
Exercisable	7 years 5 months 27 days
Expected to vest	9 years 2 months 5 days
Aggregate intrinsic value
Outstanding (in dollars)	$ 291
Exercisable (in dollars)	291
Additional disclosures
Total intrinsic value of options exercised	253	119	1,235
Share-based compensation expense	5	$ 291	$ 280
Unrecognized compensation cost	$ 1,071
Weighted-average period of recognition of unrecognized compensation cost	2 years 11 months 23 days

NONVESTED SHARES (Details) - 2008 Plan - Nonvested shares. - shares	1 Months Ended	12 Months Ended
	May. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011
Nonvested shares
Nonvested shares granted	139,000	3,154,800	2,800,300	711,571	1,820,010
Vesting period					4 years
Minimum
Nonvested shares
Vesting period		3 months	3 years	2 years
Maximum
Nonvested shares
Vesting period		4 years	4 years	4 years

NONVESTED SHARES (Details 2) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Jun. 01, 2015	May. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011
Weighted average grant date fair value
Incremental compensation expenses			$ 3,196	$ 2,518	$ 4,318
2008 Plan \| Nonvested shares.
Number of Shares
Outstanding at the beginning of the period (in shares)			2,583,337
Granted (in shares)		139,000	3,154,800	2,800,300	711,571	1,820,010
Forfeited (in shares)			(1,106,177)
Vested (in shares)			(1,316,696)
Outstanding at the end of the period (in shares)			3,315,264	2,583,337
Weighted average grant date fair value
Outstanding at the beginning of the period (in dollars per share)			$ 2.58
Granted (in dollars per share)			2.22
Forfeited (in dollars per share)			2.27
Vested (in dollars per share)			2.12
Outstanding at the end of the period (in dollars per share)			$ 2.52	$ 2.58
Fair value of shares vested			$ 2,791	$ 2,123	$ 3,453
Incremental compensation expenses	$ 210	$ 90	3,191	$ 2,227	$ 4,038
Unrecognized compensation cost			$ 7,509
Weighted-average period of recognition of unrecognized compensation cost			3 years 7 days

NONVESTED SHARES (Details 3) - USD ($) $ in Thousands	12 Months Ended
NONVESTED SHARES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based compensation expenses
Incremental compensation expenses	$ 3,196	$ 2,518	$ 4,318
Fulfillment
Share-based compensation expenses
Incremental compensation expenses	185	46	9
Selling and marketing
Share-based compensation expenses
Incremental compensation expenses	580	231	134
General and administrative
Share-based compensation expenses
Incremental compensation expenses	$ 2,431	$ 2,241	$ 4,175

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2010
Income taxes
Current tax expense (benefit)	$ 49	$ 70	$ 69
Current deferred tax assets:
Accrued payroll	2,650	2,885
Accrued expenses	69	214
Accrued inventory provision	369	132
Less: Valuation allowance	(3,088)	(3,231)
Non-current deferred tax asset:
Net operating loss carry forwards	16,232	10,476
Less: Valuation allowance	(16,232)	(10,476)
Deferred tax liabilities	0	0	0
Movement of valuation allowance
Balance at beginning of the period	13,707	8,642
Additions	5,993	5,683
Reversals	(380)	(618)
Balance at end of the period	19,320	13,707	8,642
Reconciliation between the expense (benefit) of income taxes computed by applying the PRC tax rate to income (loss) before income taxes and the actual provision for income taxes
Loss before provision of income tax	$ (39,324)	$ (29,917)	$ (4,750)
Statutory income tax rates (as a percent)	25.00%	25.00%	25.00%
Income tax at statutory tax rate	$ (9,831)	$ (7,479)	$ (1,187)
Non-deductible expenses	8	92	225
Effect of income tax holiday and preferential tax rates	(25)	(76)	(62)
Utilisation of tax loss previously not recognized	(298)
Effect of income tax rate differences in jurisdictions other than the PRC	4,582	2,468	1,291
Changes in valuation allowances	5,613	5,065	(198)
Income tax expense (benefit)	$ 49	$ 70	$ 69
Hong Kong \| Light In The Box
Reconciliation between the expense (benefit) of income taxes computed by applying the PRC tax rate to income (loss) before income taxes and the actual provision for income taxes
Statutory income tax rates (as a percent)	16.50%
PRC
Reconciliation between the expense (benefit) of income taxes computed by applying the PRC tax rate to income (loss) before income taxes and the actual provision for income taxes
Statutory income tax rates (as a percent)	25.00%
Additional disclosures
Withholding tax rate on dividends distributed to non-resident entities (as a percent)	10.00%
Deferred tax liability accrued for the Chinese dividend withholding taxes	$ 0
PRC \| Lanting Huitong
Income taxes
Income tax exemption period					2 years
Reduced tax rate for three years subsequent the exemption period (as a percent)		12.50%	12.50%	12.50%
Period for reduced tax rate				3 years
Reconciliation between the expense (benefit) of income taxes computed by applying the PRC tax rate to income (loss) before income taxes and the actual provision for income taxes
Statutory income tax rates (as a percent)	25.00%
PRC \| Lanting Gaochuang
Income taxes
Income tax exemption period			2 years
Reduced tax rate for three years subsequent the exemption period (as a percent)	12.50%
Period for reduced tax rate	3 years

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net loss	$ (39,407)	$ (29,987)	$ (4,819)
Accretion for Series C convertible redeemable preferred shares			1,621
Net loss attributable to ordinary shareholders	(39,407)	(29,987)	(6,440)
Net loss attributable to shareholders of the Company allocated for computing net loss per ordinary share-basic	$ (39,407)	$ (29,987)	$ (6,440)
Net loss per ordinary share-basic	$ (0.41)	$ (0.30)	$ (0.09)
Net loss per ordinary share-diluted	$ (0.41)	$ (0.30)	$ (0.09)
Shares (denominator):
Weighted average number of shares used in calculating net loss per ordinary share -basic	94,970,054	99,001,560	71,555,449
Series C convertible preferred shares
Computation of basic and diluted net loss per ordinary share
Net income attributable to preferred shares for computing basic net income per preferred share			$ 1,621
Net income per Series C preferred share (in dollars per share)			$ 0.38
Weighted average number of shares used in calculating net loss per Series C preferred share -basic			4,257,266

LOSS PER SHARE (Details 2) - shares	12 Months Ended
LOSS PER SHARE (Details 2) - shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share options.
Shares excluded from the calculation of diluted loss per share
Shares excluded from the calculation of diluted loss per share	1,374,050	2,506,300	1,562,850
Nonvested shares.
Shares excluded from the calculation of diluted loss per share
Shares excluded from the calculation of diluted loss per share	3,315,264	2,583,337	995,202

STATUTORY RESERVES AND RESTRICTED NET ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
STATUTORY RESERVES AND RESTRICTED NET ASSETS
Minimum percentage of after-tax profit required to be transferred to general reserve till such reserve reaches specified percentage of registered capital	10.00%
General reserve as a percentage of registered capital up to which after-tax profit of PRC subsidiaries and VIEs shall be transferred	50.00%
Discretionary appropriations to enterprise expansion reserve, staff welfare and bonus reserve	$ 0	$ 0	$ 0
Amount of restricted net assets of consolidated subsidiaries and VIE not available for distribution	$ 5,089

SEGMENT REPORTING (Details) $ in Thousands	12 Months Ended
SEGMENT REPORTING (Details) $ in Thousands	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Segment reporting
Number of operating segment \| item	1
Total net revenues	$ 323,763	$ 382,407	$ 292,417
Apparel
Segment reporting
Total net revenues	123,113	138,570	86,459
Other general merchandise
Segment reporting
Total net revenues	$ 200,650	$ 243,837	$ 205,958

SEGMENT REPORTING (Details 2) - USD ($) $ in Thousands	12 Months Ended
SEGMENT REPORTING (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment reporting
Revenues	$ 323,763	$ 382,407	$ 292,417
Total net revenues
Segment reporting
Revenues (as a percent)	100.00%	100.00%	100.00%
Europe
Segment reporting
Revenues	$ 191,361	$ 239,176	$ 182,958
Europe \| Total net revenues
Segment reporting
Revenues (as a percent)	59.10%	62.50%	62.50%
Europe \| France
Segment reporting
Revenues	$ 41,161	$ 52,264	$ 42,504
North America
Segment reporting
Revenues	$ 92,430	$ 81,675	$ 54,858
North America \| Total net revenues
Segment reporting
Revenues (as a percent)	28.50%	21.40%	18.80%
North America \| United States
Segment reporting
Revenues	$ 77,407	$ 65,376	$ 46,136
Other countries
Segment reporting
Revenues	$ 39,972	$ 61,556	$ 54,601
Other countries \| Total net revenues
Segment reporting
Revenues (as a percent)	12.40%	16.10%	18.70%

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair value measurements
Period of financial forecasts on which discounted cash flows is based	5 years
Recurring
Fair value measurements
Financial assets	$ 0	$ 0	$ 0
Financial liabilities	$ 0	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES
Rent expenses under operating leases	$ 4,461	$ 3,906	$ 3,005
Future minimum lease payments under non-cancellable operating lease agreements
2016	2,286
2017	1,258
2018	842
Total	$ 4,386

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands			1 Months Ended
	Mar. 24, 2016 USD ($)	Mar. 17, 2016 USD ($) director $ / shares shares	Jun. 30, 2013 shares
Ordinary Shares
Subsequent Event [Line Items]
Issuance of ordinary shares (in share)			16,984,736
Subsequent events \| Subsidiary of Zall Development
Subsequent Event [Line Items]
Equity interest		30.00%
Cash consideration \| $		$ 76,500
Exercise price of warrant per ordinary share \| $ / shares		$ 2.75
Warrant exercisable period after the closing, start		6 months
Warrant exercisable period after the closing, end		24 months
Number of the Group's board of directors, out of five, could be appointed by Zall Development \| director		2
Number of Group's board of directors \| director		5
Cash consideration received \| $	$ 76,500
Subsequent events \| Subsidiary of Zall Development \| Ordinary Shares
Subsequent Event [Line Items]
Issuance of ordinary shares (in share)		42,500,000
Issuance of ordinary shares (in ADS)		21,250,000
Maximum number of ordinary shares into which the warrant maybe converted		7,455,000
Maximum number of ordinary shares (in ADS) into which the warrant maybe converted		3,737,500

Schedule I Condensed Financial Information of Parent Company-Balance sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current assets
Cash and cash equivalents	$ 30,901	$ 75,358	$ 23,745	$ 19,972
Term deposit		5,802
Prepaid expenses and other current assets	5,053	5,189
TOTAL ASSETS	55,493	104,467
Current Liabilities
Accrued expenses and other current liabilities	19,983	25,069
TOTAL LIABILITIES	57,616	61,284
EQUITY (DEFICIT)
Ordinary shares ($0.000067 par value; 750,000,000 shares authorized; 100,354,801 and 101,847,447 shares issued as of December 31, 2014 and December 31, 2015, respectively; 96,617,349 and 94,456,773 shares outstanding as of December 31, 2014 and December 31, 2015, respectively)	7	7
Additional paid-in capital	159,190	155,872
Accumulated deficit	(141,015)	(101,608)
Accumulated other comprehensive loss	(309)	(131)
Treasury shares, at cost (3,737,452 and 7,309,674 shares as of December 31, 2014 and December 31, 2015, respectively)	(19,996)	(10,957)
TOTAL EQUITY (DEFICIT)	(2,123)	43,183	81,391	(38,480)
TOTAL LIABILITIES AND EQUITY	55,493	104,467
LightInTheBox Holding Co., Ltd.
Current assets
Cash and cash equivalents	10,083	53,691	$ 4,004	$ 8,082
Term deposit		5,802
Prepaid expenses and other current assets	551	774
Amounts due from subsidiaries and VIEs	95,259	57,025
Deficit in subsidiaries and VIEs	(106,181)	(72,749)
TOTAL ASSETS	(288)	44,543
Current Liabilities
Accrued expenses and other current liabilities	1,835	1,360
TOTAL LIABILITIES	1,835	1,360
EQUITY (DEFICIT)
Ordinary shares ($0.000067 par value; 750,000,000 shares authorized; 100,354,801 and 101,847,447 shares issued as of December 31, 2014 and December 31, 2015, respectively; 96,617,349 and 94,456,773 shares outstanding as of December 31, 2014 and December 31, 2015, respectively)	7	7
Additional paid-in capital	159,190	155,872
Accumulated deficit	(141,015)	(101,608)
Accumulated other comprehensive loss	(309)	(131)
Treasury shares, at cost (3,737,452 and 7,309,674 shares as of December 31, 2014 and December 31, 2015, respectively)	(19,996)	(10,957)
TOTAL EQUITY (DEFICIT)	(2,123)	43,183
TOTAL LIABILITIES AND EQUITY	$ (288)	$ 44,543

Schedule I Condensed Financial Information of Parent Company-Balance sheet paranthetical (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Ordinary shares, par value (in dollars per share)	$ 0.000067	$ 0.000067
Ordinary shares, shares authorized	750,000,000	750,000,000
Ordinary shares, shares issued	101,847,447	100,354,801
Ordinary shares, shares outstanding	94,456,773	96,617,349
Treasury stock, shares	7,390,674	3,737,452
LightInTheBox Holding Co., Ltd.
Ordinary shares, par value (in dollars per share)	$ 0.000067	$ 0.000067
Ordinary shares, shares authorized	750,000,000	750,000,000
Ordinary shares, shares issued	101,847,447	100,354,801
Ordinary shares, shares outstanding	94,456,773	96,617,349
Treasury stock, shares	7,390,674	3,737,452

Schedule I Condensed Financial Information of Parent Company-Statement of operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating expenses:
General and administrative	$ 41,535	$ 46,916	$ 31,929
Loss from operations	(39,159)	(30,716)	(4,987)
Loss from equity method investment	(34)
Interest income	773	2,355	237
Net loss	(39,407)	(29,987)	(4,819)
Accretion of Series C convertible redeemable preferred shares			(1,621)
Net loss attributable to ordinary shareholders	(39,407)	(29,987)	(6,440)
LightInTheBox Holding Co., Ltd.
Operating expenses:
General and administrative	(6,554)	(6,949)	(4,312)
Loss from operations	(6,554)	(6,949)	(4,312)
Loss from equity method investment	(33,570)	(25,325)	(716)
Interest income	717	2,287	209
Net loss	(39,407)	(29,987)	(4,819)
Accretion of Series C convertible redeemable preferred shares			(1,621)
Net loss attributable to ordinary shareholders	$ (39,407)	$ (29,987)	$ (6,440)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Schedule I Condensed Financial Information of Parent Company- comprehensive loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net loss	$ (39,407)	$ (29,987)	$ (4,819)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax of nil	(178)	(12)	(89)
Total comprehensive loss	(39,585)	(29,999)	(4,908)
LightInTheBox Holding Co., Ltd.
Net loss	(39,407)	(29,987)	(4,819)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax of nil	(178)	(12)	(89)
Total comprehensive loss	$ (39,585)	$ (29,999)	$ (4,908)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Schedule I Condensed Financial Information of Parent Company - Comprehensive loss paranthetical (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0
LightInTheBox Holding Co., Ltd.
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0

Schedule I Condensed Financial Information of Parent Company - Cash flows (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net loss		$ (39,407)	$ (29,987)	$ (4,819)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Share-based compensation		3,196	2,518	4,318
Equity in losses of subsidiaries and VIEs		34
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		106	3,639	(1,148)
Accrued expenses and other current liabilities		(4,674)	9,465	3,042
Net cash provided by (used in) operating activities		(37,901)	(6,889)	15,152
Cash flows from investing activities
Purchase of term deposit		(37,708)	(84,855)	(79,958)
Maturity of term deposit		43,054	157,519
Net cash (used in) provided by investing activities		3,138	69,181	(83,552)
Cash flows from financing activities
Proceeds from exercise of share options		122	230	193
Proceeds from initial public offering	$ 75,030			75,030
Repurchase of ordinary shares		(9,346)	(10,650)
Payment of professional fees related to initial public offering				(3,127)
Net cash provided by (used in) financing activities		(9,224)	(10,420)	72,096
Net increase (decrease) in cash and cash equivalents		(43,987)	51,872	3,696
Cash and cash equivalents at beginning of year		75,358	23,745	19,972
Cash and cash equivalents at end of year		30,901	75,358	23,745
LightInTheBox Holding Co., Ltd.
Net loss		(39,407)	(29,987)	(4,819)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Share-based compensation		3,196	2,518	4,318
Equity in losses of subsidiaries and VIEs		33,570	25,325	716
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		856	854	(2,014)
Accrued expenses and other current liabilities		(475)	139	1,267
Net cash provided by (used in) operating activities		(2,260)	(1,151)	(532)
Cash flows from investing activities
Purchase of term deposit		(14,380)	(81,557)	(79,958)
Maturity of term deposit		20,182	155,713
Amounts due from subsidiaries and VIEs		(37,926)	(12,898)	4,316
Net cash (used in) provided by investing activities		(32,124)	61,258	(75,642)
Cash flows from financing activities
Proceeds from exercise of share options		122	230	193
Proceeds from initial public offering				75,030
Repurchase of ordinary shares		(9,346)	(10,650)
Payment of professional fees related to initial public offering				(3,127)
Net cash provided by (used in) financing activities		(9,224)	(10,420)	72,096
Net increase (decrease) in cash and cash equivalents		(43,608)	49,687	(4,078)
Cash and cash equivalents at beginning of year		53,691	4,004	8,082
Cash and cash equivalents at end of year		$ 10,083	$ 53,691	$ 4,004

Schedule I Condensed Financial Information of Parent Company - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity in losses of subsidiaries and VIEs	$ 34
LightInTheBox Holding Co., Ltd.
Deficit in subsidiaries and VIEs	106,181	$ 72,749
Equity in losses of subsidiaries and VIEs	$ 33,570	$ 25,325	$ 716

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT)
Issuance of common shares upon IPO, offering costs	$ 9,883

COMMITMENTS AND CONTINGENCIES (Details 2)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details 2)	Dec. 31, 2015
Failure to make payments of contributions for employee benefit plans
Contingencies
Maximum fines ( as a percent)	300.00%

LONG-TERM INVESTMENT	12 Months Ended
LONG-TERM INVESTMENT	Dec. 31, 2015
Long-term Investments [Abstract]
LONG-TERM INVESTMENT	7.LONG-TERM INVESTMENT On February 6, 2015, the Group acquired 30% equity interest of Shantou Demon Network Technology Co., Ltd. (“Demon”), with $2,100 cash consideration. Demon owns an online website specialized in cross-border packages tracking. The Group has significant influence but does not have control over Demon. Accordingly the Group recorded it as an equity method investment. During the year ended December 31, 2015, the Group recorded its share of loss of $34 in the consolidated statement of operations.