Vipshop Holdings Limited is an online discount retailer. The Company operates an online platform that offers products to consumers in the People's Republic of China (the PRC) through flash sales on its vipshop.com and vip.com Website. It had 48.8 million registered members and over 12 million cumulative customers and promoted and sold products for over 8,700 domestic and international brands as of December 31, 2013. The Company offers a selection of apparel, fashion goods, cosmetics, home goods and lifestyle products from domestic and international brands. The Company�s total number of repeat customers was six million during 2013, representing 63.8% of the total number of its active customers. Orders placed by its repeat customers accounted for 93% during 2013. On February 14, 2014, it acquired a 75% interest in Lefeng.com Limited from Ovation Entertainment Limited.