LightInTheBox +15% after shoemaker buys stake; Dangdang +12.9%

• Chinese shoe/leather products manufacturer and retailer Aokang is buying a 25.66% stake in LightInTheBox (NYSE:LITB) for $6.30/share. Aokang's price is 23% above LightInTheBox's Tuesday close, albeit well below where shares traded two years ago.
• The companies plan to jointly develop a global "Internet-Plus" strategy for pairing LightInTheBox's online retail ops and Aokang's bricks-and-mortar ops. News of the deal comes 5 days after LightIntheBox provided soft Q2 guidance to go with a Q1 beat.
• Fellow Chinese online retailer Dangdang (DANG) is also up sharply.