VIPstore.com

About VIPstore.com

VIPstore.com, which now operates as VIP.com, is a prominent Chinese e-commerce company specializing in online discount sales. Founded in December 2008 by Eric Ya Shen and Arthur Xiaobo Hong, the company is headquartered in Guangzhou, China, and is publicly traded on the New York Stock Exchange under the ticker VIPS.

Eric Ya Shen, the co-founder, chairman, and CEO, brought over two decades of experience in consumer electronics distribution to the venture. He and co-founder Arthur Xiaobo Hong were classmates in the EMBA program at Cheung Kong Graduate School of Business when they developed the plan for the e-commerce business. Initially focused on luxury goods, the company pivoted to mid- to high-end fashion brands after a slow start, a strategic shift that proved highly successful. Arthur Xiaobo Hong serves as the vice chairman of the board and has been the chief operating officer since August 2012, contributing over 15 years of experience in consumer electronics distribution in overseas markets.

The company's core business revolves around a flash sales model, purchasing excess inventory from brands and selling it at significant discounts. This model creates a sense of urgency and desire among consumers by offering limited-time deals on a wide array of products. VIP.com offers a diverse range of product categories including womenswear, menswear, sportswear, shoes, bags, cosmetics, and home goods. It has established partnerships with over 20,000 brands, with more than 2,200 of them having exclusive online collaborations. The platform primarily targets female shoppers, who account for approximately 80% of purchases.

To manage its operations, VIP.com started running its own logistics and distribution system in 2015. It also launched financial services, including consumer and supplier financing. The company's growth has been substantial, becoming the third-largest e-commerce site in China after Tmall and JD.com. By 2017, it served over 52.1 million customers and ranked as the world's fastest-growing retailer by Deloitte and STORES Media.