China's Vipshop sees revenues catapult 108.9%

The country's leading online discount retailer registered massive growth in Q4 2014

China’s leading online discount retailer for cosmetic brands put in a sterling performance in Q4 2014.

Total net revenue grew a massive 108.9% year-to-year, growing US$1.36bn, primarily as a result of a 144.2% increase in the number of active customers, which reached 12.2m. Total orders meanwhile, grew to 35.3m. Looking at the full year 2014 highlights, total net revenue grew by 122.4% to $3.77bn, which was primarily put down to a 150.4% increase in the number of active customers to 23.6m from 9.4m, and a 118.3% increase in total orders to 107.3m from 49.2m in the prior year period.

Eric Shen, Chairman and CEO of Vipshop, said: “As mobile is increasingly becoming the ideal solution for e-commerce users, we believe our flash sales model, which allows shoppers to act instantly on sales events any time and anywhere, is particularly well suited for users shopping via mobile devices.” He added: “Going forward, we will continue to strengthen our mobile capabilities and focus on attracting new customers by continuing to provide a convenient and pleasant shopping experience.”