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Revenue up 40 per cent for Vipshop Holdings

With an expanding customer base, China’s online discount retailer Vipshop Holdings saw strong growth in revenue for its fourth quarter and for the full year to December 31.
Its unaudited figures show total net revenue for the quarter rising by 36.5 per cent to RMB18.98 billion (US$2.7 billion), while for the year it ballooned by 40.8 per cent to RMB56.59 billion.
There was a 39 per cent increase in active customers (27.5 million) for the fourth quarter while for the year the increase was 42 per cent to reach 52.1 million.
Total orders for the fourth quarter grew by 26 per cent to RMB82 million, and for the full year by 40 per cent to RMB269.8 million.
Gross profit for the fourth quarter increased by 33.4 per cent to RMB4.47 billion, while the full-year increase of 37.4 per cent yielded RMB13.60 billion.
“We continued to focus on improving the customer experience across our platform through enhanced personalisation and diverse merchandising,” says Vipshop chairman/CEO Eric Shen. “Our robust results are a testament to the solid strength of our business model.”
COO Donghao Yang says the company continued to expand its logistics and warehousing network by adding five local distribution centres.
Net income attributable to Vipshop’s shareholders for the full year grew by 28.1 per cent to RMB2.04 billion, while net margin attributable was 3.6 per cent, compared with 4 per cent the previous year.

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