Vipshop Holdings Limited (VIPS) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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VIPS Revenue Growth
Revenue Breakdown (FY 2024)
VIPS's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
VIPS Revenue Analysis (2013–2024)
As of May 8, 2026, Vipshop Holdings Limited (VIPS) generated trailing twelve-month (TTM) revenue of $105.97 billion, reflecting slight decline in growth of -4.0% year-over-year. The most recent quarter (Q2 2025) recorded $25.81 billion in revenue, down 1.8% sequentially.
Looking at the longer-term picture, VIPS's 5-year compound annual growth rate (CAGR) stands at +3.1%, indicating moderate growth over time. The company achieved its highest annual revenue of $117.06 billion in 2021.
Revenue diversification analysis shows VIPS's business is primarily driven by Product (48%), Womenswear And Menswear (17%), and Skincare And Cosmetics (7%).
When compared to Consumer Cyclical sector peers including JD (+16.6% YoY), PDD (+12.5% YoY), and BABA (+5.2% YoY), VIPS has underperformed the peer group in terms of revenue growth. Compare VIPS vs JD →
VIPS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| VIPSCurrent | $106.0B | -4.0% | +3.1% | 8.5% | |
 JD | $1.16T | +16.6% | +15.0% | 3.3% | |
 PDD | $393.8B | +12.5% | +67.2% | 27.5% | |
 BABA | $996.3B | +5.2% | +14.3% | 14.1% | |
 SE | $16.8B | +35.8% | +50.5% | 3.9% | |
 CPNG | $34.5B | -7.8% | +23.6% | 1.4% |
VIPS Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $108.42B | -3.9% | $25.47B | 23.5% | $9.17B | 8.5% |
| 2023 | $112.86B | +9.4% | $25.72B | 22.8% | $9.10B | 8.1% |
| 2022 | $103.15B | -11.9% | $21.62B | 21.0% | $6.20B | 6.0% |
| 2021 | $117.06B | +14.9% | $23.11B | 19.7% | $5.58B | 4.8% |
| 2020 | $101.86B | +9.5% | $21.29B | 20.9% | $5.86B | 5.8% |
| 2019 | $92.99B | +10.0% | $20.68B | 22.2% | $4.77B | 5.1% |
| 2018 | $84.52B | +15.9% | $17.07B | 20.2% | $2.42B | 2.9% |
| 2017 | $72.91B | +28.8% | $16.29B | 22.3% | $2.69B | 3.7% |
| 2016 | $56.59B | +40.8% | $13.60B | 24.0% | $2.71B | 4.8% |
| 2015 | $40.20B | +71.7% | $9.90B | 24.6% | $2.07B | 5.2% |
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Start ComparisonVIPS — Frequently Asked Questions
Quick answers to the most common questions about buying VIPS stock.
Is VIPS's revenue growth accelerating or slowing?
VIPS revenue growth slowed to -4.0%, below the 5-year CAGR of +3.1%. TTM revenue is $106.0B. The deceleration marks a shift from historical growth rates.
What is VIPS's long-term revenue growth rate?
Vipshop Holdings Limited's 5-year revenue CAGR of +3.1% reflects the variable expansion pattern. Current YoY growth of -4.0% is near this long-term average.
How is VIPS's revenue distributed by segment?
VIPS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.