Vipshop Holdings Limited (NYSE: VIPS), a premier online discount retailer in China, announced robust financial results for both the fourth quarter and the entire year of 2023.
Vipshop (vip.com) News & Statistics
Vipshop (VIP.com), an NYSE-listed company under the symbol "VIPS", is China's leading online discount retailer for brands considered as the largest flash sale website.
Headquartered in Guangzhou city, Vipshop offers high quality and popular branded products to consumers throughout China through flash sales on its vipshop.com website and mobile apps at a significant discount to retail prices.
Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners.
Vipshop is China's first profitable B2C online retailer. Its primary business strategy is to partner with popular and well-known brands by selling their excess inventory at discount prices. Vipshop has established a dominant leadership position in China’s online discount retail market.
Vipshop ranked the 421th in Fortune China 500 list in 2014, the fourth among China internet companies after Jingdong, Tencent, and Baidu.
Vipshop had 12.1 million registered members and over 1.7 million cumulative customers and promoted and sold products for over 1,900 popular domestic and international brands as of December 31, 2011.
For consumers, Vipshop provides a unique online shopping experience characterized by “thrill and excitement.” The “thrill and excitement” experience for consumers arises from their discovery of the high-quality items available for sale each day and being able to purchase them at a significant discount to retail prices.
For brands, it offers a channel to create new consumer demand for their products and services and the ability to monetize their inventory quickly without compromising their brand promise.
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