Bolstered by more customers and orders, Chinese online discount retailer VIPshop Holdings (VIPS) has seen its net revenue grow by 65 per cent to RMB13.9 billion ($2.15 billion) in the latest quarter to December 31.
During the period, its number of active customers rose to 19.8 million (a 58 per cent year-over-year increase) and total order grew 67 per cent to 64.9 million. This boosted gross profit by 60 per cent to RMB3.35 billion.
For the year, total net revenue rose 74 per cent to RMB40.2 billion.
“We topped RMB40 billion in annual sales and attracted nearly 37 million active customers as at the end of the year,” said chairman and CEO Eric Shen.
“We also continued to enhance the user experience by optimising our platform for mobile interaction and purchasing, as well as expanding our product categories.”
Founded in August 2008, the company offers quality and popular branded products online throughout China at significant discounts.