Womenswear & Menswear was Vipshop Holdings’s largest revenue line in fiscal 2025, bringing in $32.33B of $105.92B (31%).
| Sub Product | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Womenswear & Menswear | $33.33B | $37.63B | $34.83B | $32.33B | |||
| Skincare & Cosmetics | $15.28B | $15.67B | $14.02B | $13.07B | |||
| Sportswear & Sporting Goods | $12.80B | $13.87B | $13.75B | $14.03B | |||
| Supermarket & Other Products | — | $10.83B | $12.26B | $9.75B | |||
| Supermarkets & Other Products | $10.49B | — | — | — | |||
| Baby & Children Products | $8.74B | $9.61B | $9.03B | $11.06B | |||
| Shoes & Bags | $8.26B | $9.38B | $8.30B | $7.65B | |||
| Home Goods & Other Lifestyle Products | $8.36B | $8.62B | $8.55B | $9.51B | |||
| Other Revenues | $5.90B | $7.24B | $7.69B | $8.52B | |||
| Total | $103.15B | $112.86B | $108.42B | $105.92B |
Vipshop Holdings brought in $105.92B from its eight revenue lines in fiscal 2025, the year ended December 31, 2025. That was down 2.3% from $108.42B in fiscal 2024. Womenswear & Menswear was the largest at $32.33B (30.5%), ahead of Sportswear & Sporting Goods at $14.03B (13.2%) and Skincare & Cosmetics at $13.07B (12.3%). The other five revenue lines brought in $46.49B combined.
Compared with fiscal 2024, Baby & Children Products grew fastest, up 22.5% to $11.06B, while Supermarket & Other Products fell the most, down 20.5% to $9.75B.
Vipshop Holdings began breaking out Supermarket & Other Products in fiscal 2023, when it brought in $10.83B. Vipshop Holdings stopped reporting Supermarkets & Other Products as a separate revenue line after fiscal 2022, when it brought in $10.49B.
Product Revenues was Vipshop Holdings’s largest revenue line in fiscal 2025, bringing in $97.40B of $105.92B (92%).
| Products and Services | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Product Revenues | $97.25B | $105.61B | $100.73B | $97.40B | ||||||
| Apparel | — | — | — | — | ||||||
| Cosmetics | — | — | — | — | ||||||
| Home Goods & Other Lifestyle Products | — | — | — | — | ||||||
| Shoes & Bags | — | — | — | — | ||||||
| Toys, Kids & Baby | — | — | — | — | ||||||
| Other Goods | — | — | — | — | ||||||
| Service | — | $4.94B | $4.96B | $5.12B | ||||||
| Sportswear & Sporting Goods | — | — | — | — | ||||||
| Other Revenues | $5.90B | — | — | — | ||||||
| Lease | — | $2.30B | $2.73B | $3.40B | ||||||
| Total | $103.15B | $112.85B | $108.42B | $105.92B |
Vipshop Holdings brought in $105.92B from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was down 2.3% from $108.42B in fiscal 2024. Product Revenues was the largest at $97.40B (92.0%), ahead of Service at $5.12B (4.8%) and Lease at $3.40B (3.2%).
Compared with fiscal 2024, Lease grew fastest, up 24.5% to $3.40B, while Product Revenues fell the most, down 3.3% to $97.40B.
Vipshop Holdings stopped reporting Other Revenues as a separate revenue line after fiscal 2022, when it brought in $5.90B.
Vip.Com was Vipshop Holdings’s largest segment in fiscal 2025, bringing in $101.14B of $105.92B (95%).
| Segment | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Vip.Com | $99.63B | $109.18B | $104.38B | $101.14B | |||||||
| Shan Shan Outlets | $1.81B | $2.77B | $3.28B | $4.06B | |||||||
| Others | — | — | — | — | |||||||
| Other | $1.72B | $907.46M | $756.86M | $725.02M | |||||||
| Internet Finance Business | — | — | — | — | |||||||
| Inter-Segment | — | — | — | — | |||||||
| Total | $103.15B | $112.86B | $108.42B | $105.92B |
Vipshop Holdings brought in $105.92B from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 2.3% from $108.42B in fiscal 2024. Vip.Com was the largest at $101.14B (95.5%), ahead of Shan Shan Outlets at $4.06B (3.8%) and Other at $725.02M (0.7%).
Compared with fiscal 2024, Shan Shan Outlets grew 23.5% to $4.06B, while Vip.Com fell 3.1% to $101.14B. From fiscal 2022 to 2025, combined revenue from these segments grew from $103.15B to $105.92B, a compound annual growth rate of 0.9%. Vip.Com's share of the total fell from 96.6% to 95.5%.
Vipshop Holdings (VIPS) reports its revenue by sub product, by products and services and by segment. In fiscal 2025, Womenswear & Menswear was its largest revenue line, bringing in $32.33B (30.5% of the total), followed by Sportswear & Sporting Goods at $14.03B (13.2%).
Womenswear & Menswear was Vipshop Holdings' largest revenue line in fiscal 2025, bringing in $32.33B, or 30.5% of the $105.92B total across its eight revenue lines.
Vip.Com was Vipshop Holdings' largest segment in fiscal 2025, bringing in $101.14B, or 95.5% of the $105.92B total across its three segments.
Among Vipshop Holdings' revenue lines that make up at least 2% of revenue, Baby & Children Products grew fastest in fiscal 2025, up 22.5% from $9.03B to $11.06B.
Every figure comes from Vipshop Holdings' annual financial filings, as reported. Each line keeps the name Vipshop Holdings gives it, and years follow its fiscal calendar.
Vipshop Holdings' revenue by sub product goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.