China ecommerce firm Vipshop launches in SEA (Update)

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Vipshop, one of China’s largest discount retailers, announced that it had rolled out its services in Southeast Asia on December 8.

While Vipshop previously offered a limited selection, it officially launched in Singapore – its headquarters for Southeast Asia – featuring products from global brands like Coach, Samsung, Sony, and Adidas.

The New York Stock Exchange-listed firm’s local team includes Bernard Tay, senior director and regional head of Southeast Asia.

Before joining Vipshop, Tay served as country leader for Amazon.sg and head of Amazon Global Selling in Southeast Asia. He was also previously appointed to the board of directors for Amazon Asia Pacific Holdings.

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With its Southeast Asian launch, Vipshop will go toe-to-toe with longtime incumbents like Lazada and Shopee, which have dominated most local marketplace players by offering heavy discounts on products.

However, Vipshop has the backing of its parent firm, which is already working with over 20,000 brands to offer a selection of products, from fashion apparel to cosmetics and home living items.

In February, Vipshop in China reported that its total net revenues for the third quarter of 2022 reached US$3 billion.

Update (March 28, 2:30 pm): This article was updated to include details from Vipshop’s official announcement.