Workingwww
www.kkk.com 时间:2021-03-01 阅读:()
www.
vip.
comVipshopHoldingsLimitedInvestorPresentationMay2014May2014DisclaimerThispresentationcontainsforward-lookingstatements.
Thesestatementsaremadeunderthe"safeharbor"provisionsoftheU.
S.
PrivateSecuritiesLitigationReformActof1995.
Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas"will,""expects,""anticipates,""future,""intends,""plans,""believes,""estimates"andsimilarstatements.
Amongotherthings,thebusinessoutlookandquotationsfrommanagementinthisannouncement,aswellasVipshop'sstrategicandoperationalplans,containforward-lookingstatements.
Vipshopmayalsomakewrittenororalforward-lookingstatementsinitsperiodicreportstotheU.
S.
SecuritiesandExchangeCommission("SEC"),initsannualreporttoshareholders,inpressreleasesandotherwrittenmaterialsandinoralstatementsmadebyitsofficers,directorsoremployeestothirdparties.
Statementsthatarenothistoricalfacts,includingstatementsaboutVipshop'sbeliefsandexpectations,areforward-lookingstatements.
Forward-lookingstatementsinvolveinherentrisksanduncertainties.
Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:Vipshop'sgoalsandstrategies;Vipshop'sfuturebusinesslookingstatement,includingbutnotlimitedtothefollowing:Vipshop'sgoalsandstrategies;Vipshop'sfuturebusinessdevelopment,resultsofoperationsandfinancialcondition;theexpectedgrowthoftheonlinediscountretailmarketinChina;Vipshop'sabilitytoattractcustomersandbrandpartnersandfurtherenhanceitsbrandrecognition;Vipshop'sexpectationsregardingdemandforandmarketacceptanceofflashsalesproductsandservices;competitioninthediscountretailindustry;fluctuationsingeneraleconomicandbusinessconditionsinChinaandassumptionsunderlyingorrelatedtoanyoftheforegoing.
FurtherinformationregardingtheseandotherrisksisincludedinVipshop'sregistrationstatementonFormF-1,asamended,filedwiththeSEC.
Allinformationprovidedinthispresentationisasofthedateofthispresentation,andVipshopdoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.
1China'sLeadingOnlineDiscountRetailerforBrandsVipshop2MassiveretailopportunitiesinChinaTotalestimatedretailsalesofUS$4.
5trnin2014(1)TotalapparelretailsaleswereUS$175.
9bnin2012(2);apparelinventoryaccountsforapproximately50%oftotalapparelmarket(3)Nolargediscountretailchainsorbrandedoutlets3Note:(1)DatafromiResearchreport;assuming1US$=6.
11RMB.
(1)DatafromFrost&Sullivanreport;assuming1US$=6.
11RMB.
(2)DatafromBCGreport"TheWorld'sNextE-CommerceSuperpower".
TotaldiscountretailwasUS$23.
6bnin2012witha56.
2%12-15ECAGR(2)HugeconsumerdemandConstantsupplyofexcessinventoryImmatureofflinediscountretailinfrastructureMassivediscountretailopportunitiesChina'shugemarketpotentialinonlinediscountretailandB2CmarketChina'sretailmarket(1)China'sonlineC2Cmarket(1)China'sonlineB2Cmarket(1)(US$inbillions)(US$inbillions)(US$inbillions)2,569.
63,011.
53,437.
03,829.
84,484.
55,155.
5237.
3268.
410.
332.
564.
4106.
4163.
7225.
92010201120122013E2014E2015E4Discountretailas%oftotalretail(2012)(2)Chinadiscountretailsales(2)Note:(1)DatafromiResearchreport,assuming1US$=6.
11RMB(2)DatafromFrost&Sullivanreport,assuming1US$=6.
11RMB(US$inbillions)0.
7%1.
4%ChinaUS2010201120122013E2014E2015E65.
195.
9148.
9196.
4237.
3268.
42010201120122013E2014E2015E9.
315.
424.
138.
761.
291.
82010201120122013E2014E2015EChina'sofflinediscountretailisextremelyunderdevelopedOnline:thefutureofdiscountretailinginChinaChinaU.
S.
2squarefeetpercapita(1)PoorofflineretailinfrastructureinChina24squarefeetpercapita(1)Top20retailersaccountfor7%marketshare(1)FragmentedretailmarketinChinaTop20retailersaccountfor24%marketshare(1)5ConsumersinChinahavetogoonlineforbrandeddiscountproductsNoneLackoflargeoff-priceretailerinChina2,241stores(2)1,227stores(3)67outlets(4)43outlets(5)3outlets(6)3outlets(7)UnderdevelopedofflineoutletstoresinChinaNote:(1)AccordingtoFrostandSullivanreport(2)Asof2012yearend,including1,867Marmaxxstoresand374HomeGoodsstoresintheUS,from2012T.
J.
Maxx'scompanypresentation(3)AsofMay2013,including1,112dress-for-lessstoresand115dd'sDISCOUNTSstoresintheUS,fromFebruary2013Ross'companyinvestoroverview(4)AsofFebruary2014,fromPremiumOutlet'scompanywebsite(5)AsofFebruary2014,fromTangerOutlet'scompanywebsite(6)FromBalianOutletsPlazacompanywebsite(7)FromBeijingScitechcompanywebsiteChina:AmoreattractivemarketopportunityMarketpositioningMostlyfocusedonhigh-endandluxurymarketsDiscount/outletretailchannelssaturatedformassmarketmerchandise;fullpriceretailersareestablishingownoutletsBroaduniverseofpopularbrandsformassmarketLackofwell-developeddiscount/outletretailchannelChinaU.
S.
Offlinechannels6BrandshavewellestablishedonlinepresenceandcapabilitiesNeedtopayforinventoryupfront;ProductscannotbereturnedtosuppliersLimitedupfrontdeposit;MostproductscanbereturnedtosuppliersBrandshavelargelyrelyonthirdpartyplatformstobuildonlinepresenceBroaderandunderpenetratedaddressablemarketBetterbusinessmodelOnlinechannelsWorkingcapitalrequirementConclusionOnlinediscountretailerAuniqueplayerinChina'se-CommercelandscapeMarketplaceGeneralB2CLargescalableplatforms7Partnerwithpopularandwell-knownbrandsbysellingtheirexcessinventoryatdiscountpricesCorecompetencyinmerchandising,logisticdistributionandcustomerserviceu_zhuye\Desktop\ProjectRedwineII_rsp_v15.
pptx6.
09.
47.
460.
6%63.
9%63.
8%75.
0%70.
3%45.
749.
291.
9%93.
3%93.
0%92.
1%87.
6%7.
1HighlyengagedandloyalcustomerbaseRapidincreaseofnewactivecustomers(1)Rapidincreaseofrepeatcustomers(2)Highandstablerateofordersfromrepeatcustomers(inmillions)(inmillions)(inmillions)113.
8%0.
92.
66.
02.
15.
21.
54.
12.
82011201220131Q131Q14RepeatcustomersTotalactivecustomersRepeatcustomeras%oftotalcustomer6.
720.
58.
117.
77.
321.
98.
820.
22011201220131Q131Q14OrdersplacedbyrepeatcustomersTotalordersOrdersplacedbyrepeatcustomers1.
33.
31.
23.
32011201220131Q131Q14Newactivecustomers8149.
0%Note:(1)An"activecustomer"foragivenperiodreferstoanyregisteredmemberonvip.
comwhohaspurchasedproductsfromusatleastonceduringsuchperiod.
Theactivecustomerfigurein2014includesactiveLefengcustomersaftertheLefengacquisitionwascompletedinFebruary2014.
(2)A"repeatcustomer"foragivenperiodreferstoanycustomerwho(i)isanactivecustomerduringsuchperiod,and(ii)hadpurchasedproductsfromusatleasttwiceduringtheperiodfromourinceptiononAugust22,2008totheendofsuchperiod.
Therepeatcustomerfigurein2014includesrepeatLefengcustomersaftertheLefengacquisitionwascompletedinFebruary2014.
178.
5%2,7604,287PreferreddiscountchannelforpopularbrandsBrandpartnersgrowthovertime(1)One-stopsolutionforbrandsProfessionalteamwithdeepbrandknowledgeFastinventorymonetizationMinimalbranddilutionClearindustryleader(2)2010–2013growthby10xüüüüü4111,07520102011201220139ProductcategoriesChildrenSportswearHomegoodsFootwearCosmeticsAccessoriesHandbagsApparelShoppersareloyalandsoareourbrandpartnersSubstantiallyallofourbrandpartnershavereturnedtopursueadditionalsalesopportunitieswithusNote:(1)Numberofourbrandpartnersisacumulativenumbersince2010,whichincludesprimarilybrandowners,andtoalesserextent,branddistributorsandresellers.
(2)AccordingtotheiResearchReport.
üOperationalexpertisewww.
vip.
com10RelationshipwithbrandsOver800ExcellentmerchandisingBrandselectionSalesmanagementcapabilityOver9,900brands1üUnderstandingofconsumersBusinessintelligencesystemOver800SpecializedMerchandisingStaff11ConsumerinsightsCustomizedmarketingSaleseventsoptimizationbrandsDeepeningbrandpartnership23üüAdditionalcapabilitiesontopoftraditionalB2Ce-Commerce(1)FlashsalerequiresdifferentiatedlogisticssystemShortLongTraditionalB2Ce-CommerceLargeSmallFastLargeSlowModerateFlashsaleMarketpositioningSalesprocessNo.
ofSKUshandledVolumeofthroughput12Note:(1)Comparisononpersame-sizewarehousebasis.
SnapshotofourwarehousesLargeSmallReverselogisticsVipshophassuccessfullyestablishedcustomizedandsophisticatedlogisticsandwarehousesystemstocatertoflashsaleneedsHighlycustomizedandseamlesslyintegratedITsystemforflashsalesTimeTraffic12am10am12pm12amSupporthugetrafficspikesduringpeakhoursExpandingandcross-regionalwarehousemanagementsystemüüüCRMsystemBigdataandbusinessintelligenceMerchantplatformüüü13HighentrybarriersEconomiesofscale1FirstMoverAdvantage2VipshophasestablishedadominantleadershippositionBusinessmodel3Operationalexpertise4leadershippositioninChina'sonlinediscountretailmarket14VisionarymanagementteamwithstrongexecutionDonghaoYangChiefFinancialOfficer12+yearsexperienceinfinancePreviouslyCFOofSynutraInternationalInc(NASDAQ:SYUT)andTysonFoods(NYSE:TSN)GreaterChinaMBAfromtheHarvardBusinessSchoolMaggieHungSeniorVP,Merchandising20+yearsexperienceinmerchandiseretailPreviouslyVPofGrandPacificYizhiTangSeniorVP,Logistics10+yearsexperienceinlogisticsindustryPreviouslylogisticsdepartmentEricYaShenCo-Founder,Chairman,CEO18+yearsexperienceinconsumerelectronicproductsdistributionPreviouslyChairmanofGuangzhouNEMImportandExportCo.
,Ltd.
EMBAfromCheungKongGraduateSchoolofBusinessMr.
DanielKaoChiefTechnologyOfficer16+yearsexperiencewithleadinge-commerceandInternetArthurXiaoboHongCo-Founder,ViceChairman,COO12+yearsexperienceinconsumerelectronicproductsdistributionPreviouslyChairmanofSocieteEuropePacifiqueDistributionPreviouslyVPofGrandPacificMallandGMofGrandOceanDepartmentStoreinNanjingBachelor'sdegreefromLingTungUniversityPreviouslylogisticsdepartmentheadofTescoinnorthernChina,andSeniorDirectoroflogisticsdepartmentofDangdang.
com(NYSE:DANG)Master'sdegreefromSunYat-SenUniversityXianFengCaiVP&GM,ShanghaiBranch19+yearsexperienceinretailindustryPreviouslyGMofIGADistributionPTYLTDBachelor'sdegreefromUniversityofMelbournee-commerceandInternetcompaniesintheUSandChinaPreviouslydirectorofsiteoperationandqualityengineeringateBayIncBachelor'sdegreeincomputersciencefromIowaStateUniversityAlexJiangSeniorVP,BusinessIntelligence&CustomerRelationshipManagement(CRM)20+yearsofexperienceinChina'sretailsectorPreviouslyVPofDangdang.
com(NYSE:DANG)andFounder/DirectorofE-elephantConsultingCompanyLimitedBachelor'sdegreefromChongqingBusinessSchoolXiaohuiMaVP,OnlineMarketing10+yearsexperienceinmarketingandmediaPreviouslyeditor-in-chiefofSINABachelor'sdegreefromCommunicationUniversityofChina15Financialhighlightswww.
vip.
com16PhenomenalgrowthTotalorders(1)Totalnetrevenues(US$inmillions)(inmillions)49.
2124.
3%1,696.
7145.
2%177.
321.
98.
820.
22011201220131Q131Q14201.
5%129.
3%227.
1692.
1310.
7701.
92011201220131Q131Q14204.
7%125.
9%Note:(1)Totalordersaredefinedasthetotalnumberofordersplacedduringtheperiod.
Thetotalorderfigurein2014includesordersattributabletoLefengaftertheLefengacquisitionwascompletedinFebruary2014.
Steadymarginexpansion(US$inmillions)QuarterlygrossprofitandgrossmarginSteadymarginexpansion82.
693.
0159.
4174.
917.
0%18.
3%19.
0%20.
0%21.
2%21.
8%22.
3%22.
9%23.
4%23.
5%24.
2%24.
5%24.
9%18GreaterbargainingpowerMoreexclusivedealsCustomers'inabilitytopriceshopLittlepricesensitivity4.
97.
410.
021.
021.
429.
634.
868.
772.
882.
61Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14GrossprofitGrossmarginFulfillmentexpenses(Non-GAAP)1Continuousinvestmentinlogisticsinfrastructuretoreducefulfillmentexpenses(US$inmillions)73.
074.
320.
9%20.
7%21.
7%18.
4%16.
6%15.
1%13.
9%12.
4%12.
1%12.
1%11.
4%11.
2%10.
6%196.
08.
411.
419.
416.
820.
521.
637.
337.
742.
643.
91Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14Fulfilmentexpenses(non-GAAP)Fulfilmentas%oftotalnetrevenueNote:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisitionTremendousoperatingleverageMarketingexpenses(Non-GAAP)(1)Generalandadministrativeexpenses(Non-GAAP)(1)(US$inmillions)(US$inmillions)28.
829.
45.
7%5.
7%8.
7%6.
2%5.
8%4.
9%4.
7%4.
1%4.
2%4.
3%4.
5%4.
4%4.
2%15.
816.
13.
6%7.
2%7.
1%4.
0%3.
9%3.
2%2.
9%2.
2%2.
3%2.
5%2.
6%2.
4%2.
3%20Note:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisition1.
72.
34.
66.
65.
86.
67.
312.
413.
015.
017.
31Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14Marketingexpenses(non-GAAP)Marketingas%oftotalnetrevenue1.
02.
93.
74.
23.
94.
34.
66.
57.
08.
910.
11Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14G&Aexpenses(non-GAAP)G&Aas%totalnetrevenueNetmargin(Non-GAAP)(1)Sustainablenetmarginimprovement(US$inmillions)15.
128.
836.
81Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q1421(4.
2)(7.
1)(10.
8)(11.
2)(6.
5)(4.
2)0.
68.
19.
011.
8(14.
6)%(17.
6)%(20.
6)%(10.
6)%(6.
4)%(3.
1)%0.
4%2.
7%2.
9%3.
4%3.
9%4.
6%5.
2%Netincome/loss(non-GAAP)Netmargin(non-GAAP)Note:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisition(in$thousands)December31,2013March31,2014CashandCashEquivalents,RestrictedSecurities,andHeld-to-MaturitySecurities720,5571,383,344CurrentAssets1,036,9481,738,889TotalAssets1,072,0602,067,300BalanceSheetHighlightsBalancesheethighlightsTotalAssets1,072,0602,067,300CurrentLiabilities828,8051,092,707TotalLiabilities828,8051,758,871TotalStockholder'sEquity243,255308,429CurrentRatio1.
31.
622Growthstrategieswww.
vip.
com23OurfuturegrowthstrategyLeveragesocialmediaandword-of-mouthtoachievebettermarketingROI,attractmorecustomersandstrengthentheVipshopbrandRecommendation/personalization,betterfulfillmentservice,improvecustomercareprograms,bettercustomerretentionandrepeatpurchaserateBetterbrandandproductportfolioIncreasesalesperbrand,purchaseperorderEnlargecustomerbaseEnhancethequantityandExpandwarehousecapacitiestoaccommodateincreasingcustomerdemandGreaterpenetrationinadditionalcitiesinChinaandselectivelyexpandintooverseasmarketsuchasHongKongandMacauetcIncreasesalesperbrand,purchaseperorderEnhancethequantityandqualityofoffersGeographicalexpansion24KeyinvestmenthighlightsMarketleadershippositionStrongindustrygrowthfundamentals12HighlyengagedandloyalcustomerbaseSuperioroperationalexpertise34Strongmanagementteamconsistentlydeliveringsuperiorresults525Thankyou!
www.
vip.
com26
vip.
comVipshopHoldingsLimitedInvestorPresentationMay2014May2014DisclaimerThispresentationcontainsforward-lookingstatements.
Thesestatementsaremadeunderthe"safeharbor"provisionsoftheU.
S.
PrivateSecuritiesLitigationReformActof1995.
Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas"will,""expects,""anticipates,""future,""intends,""plans,""believes,""estimates"andsimilarstatements.
Amongotherthings,thebusinessoutlookandquotationsfrommanagementinthisannouncement,aswellasVipshop'sstrategicandoperationalplans,containforward-lookingstatements.
Vipshopmayalsomakewrittenororalforward-lookingstatementsinitsperiodicreportstotheU.
S.
SecuritiesandExchangeCommission("SEC"),initsannualreporttoshareholders,inpressreleasesandotherwrittenmaterialsandinoralstatementsmadebyitsofficers,directorsoremployeestothirdparties.
Statementsthatarenothistoricalfacts,includingstatementsaboutVipshop'sbeliefsandexpectations,areforward-lookingstatements.
Forward-lookingstatementsinvolveinherentrisksanduncertainties.
Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:Vipshop'sgoalsandstrategies;Vipshop'sfuturebusinesslookingstatement,includingbutnotlimitedtothefollowing:Vipshop'sgoalsandstrategies;Vipshop'sfuturebusinessdevelopment,resultsofoperationsandfinancialcondition;theexpectedgrowthoftheonlinediscountretailmarketinChina;Vipshop'sabilitytoattractcustomersandbrandpartnersandfurtherenhanceitsbrandrecognition;Vipshop'sexpectationsregardingdemandforandmarketacceptanceofflashsalesproductsandservices;competitioninthediscountretailindustry;fluctuationsingeneraleconomicandbusinessconditionsinChinaandassumptionsunderlyingorrelatedtoanyoftheforegoing.
FurtherinformationregardingtheseandotherrisksisincludedinVipshop'sregistrationstatementonFormF-1,asamended,filedwiththeSEC.
Allinformationprovidedinthispresentationisasofthedateofthispresentation,andVipshopdoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.
1China'sLeadingOnlineDiscountRetailerforBrandsVipshop2MassiveretailopportunitiesinChinaTotalestimatedretailsalesofUS$4.
5trnin2014(1)TotalapparelretailsaleswereUS$175.
9bnin2012(2);apparelinventoryaccountsforapproximately50%oftotalapparelmarket(3)Nolargediscountretailchainsorbrandedoutlets3Note:(1)DatafromiResearchreport;assuming1US$=6.
11RMB.
(1)DatafromFrost&Sullivanreport;assuming1US$=6.
11RMB.
(2)DatafromBCGreport"TheWorld'sNextE-CommerceSuperpower".
TotaldiscountretailwasUS$23.
6bnin2012witha56.
2%12-15ECAGR(2)HugeconsumerdemandConstantsupplyofexcessinventoryImmatureofflinediscountretailinfrastructureMassivediscountretailopportunitiesChina'shugemarketpotentialinonlinediscountretailandB2CmarketChina'sretailmarket(1)China'sonlineC2Cmarket(1)China'sonlineB2Cmarket(1)(US$inbillions)(US$inbillions)(US$inbillions)2,569.
63,011.
53,437.
03,829.
84,484.
55,155.
5237.
3268.
410.
332.
564.
4106.
4163.
7225.
92010201120122013E2014E2015E4Discountretailas%oftotalretail(2012)(2)Chinadiscountretailsales(2)Note:(1)DatafromiResearchreport,assuming1US$=6.
11RMB(2)DatafromFrost&Sullivanreport,assuming1US$=6.
11RMB(US$inbillions)0.
7%1.
4%ChinaUS2010201120122013E2014E2015E65.
195.
9148.
9196.
4237.
3268.
42010201120122013E2014E2015E9.
315.
424.
138.
761.
291.
82010201120122013E2014E2015EChina'sofflinediscountretailisextremelyunderdevelopedOnline:thefutureofdiscountretailinginChinaChinaU.
S.
2squarefeetpercapita(1)PoorofflineretailinfrastructureinChina24squarefeetpercapita(1)Top20retailersaccountfor7%marketshare(1)FragmentedretailmarketinChinaTop20retailersaccountfor24%marketshare(1)5ConsumersinChinahavetogoonlineforbrandeddiscountproductsNoneLackoflargeoff-priceretailerinChina2,241stores(2)1,227stores(3)67outlets(4)43outlets(5)3outlets(6)3outlets(7)UnderdevelopedofflineoutletstoresinChinaNote:(1)AccordingtoFrostandSullivanreport(2)Asof2012yearend,including1,867Marmaxxstoresand374HomeGoodsstoresintheUS,from2012T.
J.
Maxx'scompanypresentation(3)AsofMay2013,including1,112dress-for-lessstoresand115dd'sDISCOUNTSstoresintheUS,fromFebruary2013Ross'companyinvestoroverview(4)AsofFebruary2014,fromPremiumOutlet'scompanywebsite(5)AsofFebruary2014,fromTangerOutlet'scompanywebsite(6)FromBalianOutletsPlazacompanywebsite(7)FromBeijingScitechcompanywebsiteChina:AmoreattractivemarketopportunityMarketpositioningMostlyfocusedonhigh-endandluxurymarketsDiscount/outletretailchannelssaturatedformassmarketmerchandise;fullpriceretailersareestablishingownoutletsBroaduniverseofpopularbrandsformassmarketLackofwell-developeddiscount/outletretailchannelChinaU.
S.
Offlinechannels6BrandshavewellestablishedonlinepresenceandcapabilitiesNeedtopayforinventoryupfront;ProductscannotbereturnedtosuppliersLimitedupfrontdeposit;MostproductscanbereturnedtosuppliersBrandshavelargelyrelyonthirdpartyplatformstobuildonlinepresenceBroaderandunderpenetratedaddressablemarketBetterbusinessmodelOnlinechannelsWorkingcapitalrequirementConclusionOnlinediscountretailerAuniqueplayerinChina'se-CommercelandscapeMarketplaceGeneralB2CLargescalableplatforms7Partnerwithpopularandwell-knownbrandsbysellingtheirexcessinventoryatdiscountpricesCorecompetencyinmerchandising,logisticdistributionandcustomerserviceu_zhuye\Desktop\ProjectRedwineII_rsp_v15.
pptx6.
09.
47.
460.
6%63.
9%63.
8%75.
0%70.
3%45.
749.
291.
9%93.
3%93.
0%92.
1%87.
6%7.
1HighlyengagedandloyalcustomerbaseRapidincreaseofnewactivecustomers(1)Rapidincreaseofrepeatcustomers(2)Highandstablerateofordersfromrepeatcustomers(inmillions)(inmillions)(inmillions)113.
8%0.
92.
66.
02.
15.
21.
54.
12.
82011201220131Q131Q14RepeatcustomersTotalactivecustomersRepeatcustomeras%oftotalcustomer6.
720.
58.
117.
77.
321.
98.
820.
22011201220131Q131Q14OrdersplacedbyrepeatcustomersTotalordersOrdersplacedbyrepeatcustomers1.
33.
31.
23.
32011201220131Q131Q14Newactivecustomers8149.
0%Note:(1)An"activecustomer"foragivenperiodreferstoanyregisteredmemberonvip.
comwhohaspurchasedproductsfromusatleastonceduringsuchperiod.
Theactivecustomerfigurein2014includesactiveLefengcustomersaftertheLefengacquisitionwascompletedinFebruary2014.
(2)A"repeatcustomer"foragivenperiodreferstoanycustomerwho(i)isanactivecustomerduringsuchperiod,and(ii)hadpurchasedproductsfromusatleasttwiceduringtheperiodfromourinceptiononAugust22,2008totheendofsuchperiod.
Therepeatcustomerfigurein2014includesrepeatLefengcustomersaftertheLefengacquisitionwascompletedinFebruary2014.
178.
5%2,7604,287PreferreddiscountchannelforpopularbrandsBrandpartnersgrowthovertime(1)One-stopsolutionforbrandsProfessionalteamwithdeepbrandknowledgeFastinventorymonetizationMinimalbranddilutionClearindustryleader(2)2010–2013growthby10xüüüüü4111,07520102011201220139ProductcategoriesChildrenSportswearHomegoodsFootwearCosmeticsAccessoriesHandbagsApparelShoppersareloyalandsoareourbrandpartnersSubstantiallyallofourbrandpartnershavereturnedtopursueadditionalsalesopportunitieswithusNote:(1)Numberofourbrandpartnersisacumulativenumbersince2010,whichincludesprimarilybrandowners,andtoalesserextent,branddistributorsandresellers.
(2)AccordingtotheiResearchReport.
üOperationalexpertisewww.
vip.
com10RelationshipwithbrandsOver800ExcellentmerchandisingBrandselectionSalesmanagementcapabilityOver9,900brands1üUnderstandingofconsumersBusinessintelligencesystemOver800SpecializedMerchandisingStaff11ConsumerinsightsCustomizedmarketingSaleseventsoptimizationbrandsDeepeningbrandpartnership23üüAdditionalcapabilitiesontopoftraditionalB2Ce-Commerce(1)FlashsalerequiresdifferentiatedlogisticssystemShortLongTraditionalB2Ce-CommerceLargeSmallFastLargeSlowModerateFlashsaleMarketpositioningSalesprocessNo.
ofSKUshandledVolumeofthroughput12Note:(1)Comparisononpersame-sizewarehousebasis.
SnapshotofourwarehousesLargeSmallReverselogisticsVipshophassuccessfullyestablishedcustomizedandsophisticatedlogisticsandwarehousesystemstocatertoflashsaleneedsHighlycustomizedandseamlesslyintegratedITsystemforflashsalesTimeTraffic12am10am12pm12amSupporthugetrafficspikesduringpeakhoursExpandingandcross-regionalwarehousemanagementsystemüüüCRMsystemBigdataandbusinessintelligenceMerchantplatformüüü13HighentrybarriersEconomiesofscale1FirstMoverAdvantage2VipshophasestablishedadominantleadershippositionBusinessmodel3Operationalexpertise4leadershippositioninChina'sonlinediscountretailmarket14VisionarymanagementteamwithstrongexecutionDonghaoYangChiefFinancialOfficer12+yearsexperienceinfinancePreviouslyCFOofSynutraInternationalInc(NASDAQ:SYUT)andTysonFoods(NYSE:TSN)GreaterChinaMBAfromtheHarvardBusinessSchoolMaggieHungSeniorVP,Merchandising20+yearsexperienceinmerchandiseretailPreviouslyVPofGrandPacificYizhiTangSeniorVP,Logistics10+yearsexperienceinlogisticsindustryPreviouslylogisticsdepartmentEricYaShenCo-Founder,Chairman,CEO18+yearsexperienceinconsumerelectronicproductsdistributionPreviouslyChairmanofGuangzhouNEMImportandExportCo.
,Ltd.
EMBAfromCheungKongGraduateSchoolofBusinessMr.
DanielKaoChiefTechnologyOfficer16+yearsexperiencewithleadinge-commerceandInternetArthurXiaoboHongCo-Founder,ViceChairman,COO12+yearsexperienceinconsumerelectronicproductsdistributionPreviouslyChairmanofSocieteEuropePacifiqueDistributionPreviouslyVPofGrandPacificMallandGMofGrandOceanDepartmentStoreinNanjingBachelor'sdegreefromLingTungUniversityPreviouslylogisticsdepartmentheadofTescoinnorthernChina,andSeniorDirectoroflogisticsdepartmentofDangdang.
com(NYSE:DANG)Master'sdegreefromSunYat-SenUniversityXianFengCaiVP&GM,ShanghaiBranch19+yearsexperienceinretailindustryPreviouslyGMofIGADistributionPTYLTDBachelor'sdegreefromUniversityofMelbournee-commerceandInternetcompaniesintheUSandChinaPreviouslydirectorofsiteoperationandqualityengineeringateBayIncBachelor'sdegreeincomputersciencefromIowaStateUniversityAlexJiangSeniorVP,BusinessIntelligence&CustomerRelationshipManagement(CRM)20+yearsofexperienceinChina'sretailsectorPreviouslyVPofDangdang.
com(NYSE:DANG)andFounder/DirectorofE-elephantConsultingCompanyLimitedBachelor'sdegreefromChongqingBusinessSchoolXiaohuiMaVP,OnlineMarketing10+yearsexperienceinmarketingandmediaPreviouslyeditor-in-chiefofSINABachelor'sdegreefromCommunicationUniversityofChina15Financialhighlightswww.
vip.
com16PhenomenalgrowthTotalorders(1)Totalnetrevenues(US$inmillions)(inmillions)49.
2124.
3%1,696.
7145.
2%177.
321.
98.
820.
22011201220131Q131Q14201.
5%129.
3%227.
1692.
1310.
7701.
92011201220131Q131Q14204.
7%125.
9%Note:(1)Totalordersaredefinedasthetotalnumberofordersplacedduringtheperiod.
Thetotalorderfigurein2014includesordersattributabletoLefengaftertheLefengacquisitionwascompletedinFebruary2014.
Steadymarginexpansion(US$inmillions)QuarterlygrossprofitandgrossmarginSteadymarginexpansion82.
693.
0159.
4174.
917.
0%18.
3%19.
0%20.
0%21.
2%21.
8%22.
3%22.
9%23.
4%23.
5%24.
2%24.
5%24.
9%18GreaterbargainingpowerMoreexclusivedealsCustomers'inabilitytopriceshopLittlepricesensitivity4.
97.
410.
021.
021.
429.
634.
868.
772.
882.
61Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14GrossprofitGrossmarginFulfillmentexpenses(Non-GAAP)1Continuousinvestmentinlogisticsinfrastructuretoreducefulfillmentexpenses(US$inmillions)73.
074.
320.
9%20.
7%21.
7%18.
4%16.
6%15.
1%13.
9%12.
4%12.
1%12.
1%11.
4%11.
2%10.
6%196.
08.
411.
419.
416.
820.
521.
637.
337.
742.
643.
91Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14Fulfilmentexpenses(non-GAAP)Fulfilmentas%oftotalnetrevenueNote:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisitionTremendousoperatingleverageMarketingexpenses(Non-GAAP)(1)Generalandadministrativeexpenses(Non-GAAP)(1)(US$inmillions)(US$inmillions)28.
829.
45.
7%5.
7%8.
7%6.
2%5.
8%4.
9%4.
7%4.
1%4.
2%4.
3%4.
5%4.
4%4.
2%15.
816.
13.
6%7.
2%7.
1%4.
0%3.
9%3.
2%2.
9%2.
2%2.
3%2.
5%2.
6%2.
4%2.
3%20Note:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisition1.
72.
34.
66.
65.
86.
67.
312.
413.
015.
017.
31Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14Marketingexpenses(non-GAAP)Marketingas%oftotalnetrevenue1.
02.
93.
74.
23.
94.
34.
66.
57.
08.
910.
11Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q14G&Aexpenses(non-GAAP)G&Aas%totalnetrevenueNetmargin(Non-GAAP)(1)Sustainablenetmarginimprovement(US$inmillions)15.
128.
836.
81Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q1421(4.
2)(7.
1)(10.
8)(11.
2)(6.
5)(4.
2)0.
68.
19.
011.
8(14.
6)%(17.
6)%(20.
6)%(10.
6)%(6.
4)%(3.
1)%0.
4%2.
7%2.
9%3.
4%3.
9%4.
6%5.
2%Netincome/loss(non-GAAP)Netmargin(non-GAAP)Note:(1)Allnumbersareshownonanon-GAAPbasisandexcludestheimpactfromshare-basedcompensationexpensesandamortizationofintangibleassetsresultingfromtheLefengacquisition(in$thousands)December31,2013March31,2014CashandCashEquivalents,RestrictedSecurities,andHeld-to-MaturitySecurities720,5571,383,344CurrentAssets1,036,9481,738,889TotalAssets1,072,0602,067,300BalanceSheetHighlightsBalancesheethighlightsTotalAssets1,072,0602,067,300CurrentLiabilities828,8051,092,707TotalLiabilities828,8051,758,871TotalStockholder'sEquity243,255308,429CurrentRatio1.
31.
622Growthstrategieswww.
vip.
com23OurfuturegrowthstrategyLeveragesocialmediaandword-of-mouthtoachievebettermarketingROI,attractmorecustomersandstrengthentheVipshopbrandRecommendation/personalization,betterfulfillmentservice,improvecustomercareprograms,bettercustomerretentionandrepeatpurchaserateBetterbrandandproductportfolioIncreasesalesperbrand,purchaseperorderEnlargecustomerbaseEnhancethequantityandExpandwarehousecapacitiestoaccommodateincreasingcustomerdemandGreaterpenetrationinadditionalcitiesinChinaandselectivelyexpandintooverseasmarketsuchasHongKongandMacauetcIncreasesalesperbrand,purchaseperorderEnhancethequantityandqualityofoffersGeographicalexpansion24KeyinvestmenthighlightsMarketleadershippositionStrongindustrygrowthfundamentals12HighlyengagedandloyalcustomerbaseSuperioroperationalexpertise34Strongmanagementteamconsistentlydeliveringsuperiorresults525Thankyou!
www.
vip.
com26
弘速云香港VPSVPS线路有CN2+BGP、CN2 GIA，KVM虚拟化架构，裸金属月付564元
弘速云怎么样?弘速云是创建于2021年的品牌，运营该品牌的公司HOSU LIMITED(中文名称弘速科技有限公司)公司成立于2021年国内公司注册于2019年。HOSU LIMITED主要从事出售香港vps、美国VPS、香港独立服务器、香港站群服务器等，目前在售VPS线路有CN2+BGP、CN2 GIA，该公司旗下产品均采用KVM虚拟化架构。可联系商家代安装iso系统。点击进入：弘速云官方网站地址...
IntoVPS：按小时计费KVM月费5美元起($0.0075/小时),6个机房可选
IntoVPS是成立于2004年的Hosterion SRL旗下于2009年推出的无管理型VPS主机品牌，商家提供基于OpenStack构建的VPS产品，支持小时计费是他的一大特色，VPS可选数据中心包括美国弗里蒙特、达拉斯、英国伦敦、荷兰和罗马尼亚等6个地区机房。商家VPS主机基于KVM架构，最低每小时0.0075美元起($5/月)。下面列出几款VPS主机配置信息。CPU：1core内存：2GB...
2021年恒创科技618活动：香港/美国服务器/云服务器/高防全场3折抢购
2021年恒创科技618活动香港美国服务器/云服务器/高防全场3折抢购，老客户续费送时长，每日限量秒杀。云服务器每款限量抢购，香港美国独服/高防每款限量5台/天，香港节点是CN2线路还不错。福利一：爆品秒杀 超低价秒杀，秒完即止；福利二：云服务器 火爆机型 3折疯抢；福利三：物理服务器 爆款直降 800元/月起；福利四：DDOS防护 超强防御仅 1750元/月。点击进入：2021年恒创科技618活...
www.kkk.com为你推荐
-
美国互联网瘫痪美国网络大瘫痪到底是怎么发生的bbs.99nets.com怎么打造完美SF冯媛甑谁知道怎么找到冯媛甄的具体资料？www.78222.com我看一个网站.www.snw58.com里面好有意思呀，不知道里面的信息是不是真实的www.zjs.com.cn我的信用卡已经申请成功了，显示正在寄卡，怎么查询寄卡信息？bbs2.99nets.com天堂1单机版到底怎么做www.175qq.com最炫的qq分组汴京清谈都城汴京，数百万家，尽仰石炭，无一燃薪者的翻译彪言彪语寻找一个电影和里面的一首歌，国产的，根据真实故事改编的校园爱情电影，里面的男主角是个屌丝但很会弹钢ww.43994399？？？？？？？？？？