Vipshop Holdings Ltd. unloads unwanted inventory from domestic and global clothing brands at a discount to Chinese consumers. Unfortunately for the global apparel industry, the company’s business has never been better.
More than 3,000 brands have turned to Vipshop this year to peddle clothing they couldn’t sell, up 58% from a year earlier, says Yang Donghao, Vipshop’s chief financial officer. Second-quarter sales more than tripled to $135.3 million from a year earlier, edging the four-year-old company closer to posting a profit.
“Last year it was just the sportswear companies that had too much,” Mr. Yang says, citing lingering inventory
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