Vipshop is a leading online discount retailer for brands in China. The Company offers high-quality and popular branded products to consumers throughout China at a significant discount from retail prices. As compared to conventional online marketplaces or large-scale multi-category online retailers, Vipshop has successfully created a third e-commerce model and proven that it can provide tremendous scale and profitability. By providing special offers and deep discounts on branded products, the Company has pioneered the online discount retail model in China and become the expert and leader trusted by its customers and brand partners alike. Since its founding in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners.