Definition of lites:
(adj) :
Light in composition, notably low in fat, calories etc. Most commonly used commercially.
(adj) :
(usually postpositive) Abridged or lesser; being a simpler or unpaid version of a product.
(adj) :
(usually postpositive) Lacking substance or seriousness; watered down.
(adj) :
Lightweight
(n) :
(architecture) A window pane
(n) :
(British, dialect) A little, bit.