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Vipshop Revenue Up 9.5% in 2020

Vipshop logo. Vipshop
Vipshop logo. Vipshop

Chinese flash sales platform, Vipshop, saw net revenue rise 9.5 percent year-on-year in 2020, to 101.9 billion yuan ($15.6 billion), its revenues gained towards the end of the year, in particular, with a 22 percent jump in the fourth quarter ended December 31.

The etailer, which hosts online flash sales for Zara, Puma, Sandro and Lacoste boasted 83.9 million active customers last year, and its full year gross profit increased 2.9 percent to 21.3 billion yuan ($3.3 billion) .

Chairman and CEO, Eric Shen, said the company will continue to focus on its merchandising strategy, while also enhancing its big data and technological capabilities to cater to the diversified needs of its broadening customer base.

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