Vipshop Holdings Limited (Vipshop) is an online discount retailer for brands in China. The company offers branded products to consumers in China through flash sales mainly on its vip.com website. Through its flash sales model, Vipshop Holdings sells limited quantities of discounted branded products for limited periods of time.
As of 31 December 2019, Vipshop had approximately 378 million registered members and approximately 171 million cumulative customers, and promoted and sold products for over 31,000 popular domestic and international brands. Product categories include apparel for women, men and children, fashion goods, cosmetics, home goods and other lifestyle products. Until September 2019, Vipshop Holdings offered a range of products and services for consumers through lefeng.com, which specialised in branded cosmetics, apparel, healthcare products, food and other consumer products. However, lefeng.com was shutdown in September 2019.
The company opened offline retail stores under its own Vipshop brand in 2019 to expand clear inventories more effectively. As of 31 December 2019, the company had approximately 200 Vipmaxx offline stores and approximately 300 Vipshop offline stores.
Vipshop is listed on the New York Stock Exchange (NYSE) under the code VIPS.
Vip.com (Vipshop Online Platform) - The company offers a selection of products and services for shoppers of varying age groups and income levels throughout China. The company's Vipshop Online Platform is represented by the Vipshop App and the vip.com website. As of the start of 2019, the Vipshop App surpassed the vip.com website and became the company's top portal of the Vipshop Online Platform in terms of the numbers of registered members, daily unique visitors and monthly unique visitors. The Vipshop App was launched in 2011 for mobile operating systems including iOS and Android to increase Vipshop Holding's customer stickiness and to further enhance customer engagement through mobile devices. For the year ending 31 December 2019, the Vipshop Online Platform accounted for 98.32% (RMB 91,435.3 million) of total revenue.
Others - For the year ending 31 December 2019, the others segment accounted for 2.84% (RMB 2,638.7 million) of total revenue.
Shan Shan Outlets - In July 2019, Vipshop acquired Shan Shan Outlets, a player in the outlets industry in China, to gain presence in the offline outlet business in China. For the year ending 31 December 2019, Shan Shan Outlets accounted for 0.26% (RMB 245.8 million) of total revenue.
Note: For the year end 31 December 2019, inter-segment revenues accounted for -1.43% of total net revenue.
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