Vipshop Releases 2024 ESG Report: From Operating Responsibly to Being a Respected Company

GUANGZHOU, China, July 29, 2025 /PRNewswire/ -- Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), announced the release of its 2024 Environmental, Social, and Governance (ESG) Report. The report outlines Vipshop's ESG initiatives, performance metrics, and progress over the past year. It reflects Vipshop's continued efforts to integrate ESG principles across its operations—reducing carbon emissions, improving customer service, supporting employee development, and expanding community engagement—all in pursuit of its long-term goal of becoming a respected and responsible company.

Low-Carbon Strategy Echoes China's Green Transition

In 2024, Vipshop accelerated its response to climate-related risks by implementing a structured decarbonization roadmap tailored to its operational footprint. The Company achieved a 43% year-over-year reduction in total greenhouse gas (GHG) emissions and a 40% decline in emissions intensity.

Key milestones included:

Renewable Energy Deployment – Vipshop installed solar photovoltaic systems across multiple logistics warehouses and at locations within its Shan Shan Outlets. Its headquarters building in Guangzhou, Guangdong Province, operated entirely on renewable electricity in 2024.

Promoting Green packaging——more than 1.34 million parcels were shipped using original cartons to minimize material usage, and the Company's reusable delivery boxes circulated over 800,000 times.

Sustainable Logistics – The proportion of new energy vehicles in its urban distribution business rose to 35% in 2024, up 15% year-on-year.

Delivering Quality and Affordability to Today's Consumer

To better serve evolving consumer expectations, Vipshop introduced more than 1,500 new brands during 2024 and collaborated with over 200 curated brands under its "Made for Vipshop" initiative to develop customized products. In the second half of the year, the platform launched new promotional channels—"Time-limit Offers " and "Daily Low Prices"—to provide customers with competitively priced, highly rated merchandise.

The Company also expanded its membership privileges for its Super VIP (SVIP) members by introducing over 100 new lifestyle-related benefits and enhancing the offering of differentiated, value-for-money products. For the elderly, Vipshop offers services such as dialect communication and simplified after-sales claims process.

Fostering a Culture of Growth, Inclusion, and Belonging

Vipshop remains committed to cultivating a workplace that promotes diversity, equity, and inclusion. The Company offers a robust suite of professional development programs and performance-based incentives to support personal and organizational growth. These efforts were recognized by Forbes China, which named Vipshop the "2024 China's Most Popular Employer of the Year."

To further empower employees, Vipshop provides targeted subsidies for continuing education and external professional training to support long-term career development. For employees with disabilities, the Company has implemented facility modifications by installing wheelchairs, writing tablets, and hydraulic lifts to foster a barrier-free work environment.

Strengthening Communities Through Philanthropy and Volunteerism

As of year-end 2024, Vipshop had invested a total of RMB 768 million (approximately USD 106 million) in public welfare, supporting a range of philanthropic programs. Notable initiatives such as V-Love Mothers, V-Love Charity, and the Langtou Rural Revitalization Project have demonstrated meaningful outcomes and growing public recognition. By the end of 2024, the V-Love Mothers program had provided legal aid, mental health services, and other forms of support to over 277,000 single-parent families in vulnerable situations.

Vipshop continues to foster a culture of giving back by encouraging employees to participate in volunteer welfare activities. The Company has established an annual eight-hour public welfare leave for employees. In 2024, employees actively contributed their time to a series of public welfare activities, including animal rescue, elderly care, and support for left-behind children.

SOURCE Vipshop