Vancl CEO Chen Nian
Clothing e-tailer Vancl has had a rough year and has only recently started to reemerge from its shell, with Vancl CEO Chen Nian finally weighing in on the IPO cancellation and the company’s future plans. Recently, Mr. Chen revealed that Vancl’s numbers are also looking up; at a conference in Hong Kong the CEO revealed that income from sales is up 30 percent from last year, and the company is nearing its profit goals.
It’s not all the result of sales growth, of course; earlier this year Chen cut staff and advertising in order to decrease the company’s overhead and hopefully achieve profitability within the year. Thanks in part to these measures, the company is close, although it isn’t clear exactly how close it is or whether it will actually be in the black before 2013 rolls around.
On a tangential note, the company has also released some official statistics that might interest you: Vancl has about 20 million users, who make purchases an average of 4-5 times per year, according to the company. Sixty percent of these users live in first tier cities, and they spend $24-$32 per purchase on average.
[via Sina Tech (including the image)]
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