Vipshop Announces Its Intention to File a Registration Statement with the Securities and Exchange Commission Relating to an

  Vipshop Announces Its Intention to File a Registration Statement with the
  Securities and Exchange Commission Relating to an Offering of Its ADSs by
                 Vipshop and Certain of its Pre-IPO Investors

PR Newswire

GUANGZHOU, China, Feb. 21, 2013

GUANGZHOU, China, Feb. 21, 2013 /PRNewswire/ -- Vipshop Holdings Limited
(NYSE: VIPS), China's leading online discount retailer for brands ("Vipshop"
or the "Company"), today announced its intention to file a registration
statement with the United States Securities and Exchange Commission (the
"SEC") on or about February 21, 2013 (U.S. Eastern Time) relating to a
proposed offering of its American depositary shares ("ADSs") by Vipshop and
certain of its pre-IPO investors. The amount and timing of the proposed
offering are subject to market conditions and other factors.

The offering will likely consist of both primary and secondary shares. The
purpose of the offering is to provide additional capital to Vipshop to fund
its capital expenditures and for general corporate purposes. The offering will
also provide for greater liquidity of the ADSs in the market by increasing the
public float as well as providing an opportunity for certain pre-IPO investors
to obtain liquidity on part of their holdings in Vipshop in an organized
fashion. Vipshop will not receive any proceeds from the sale of the ADSs by
the selling shareholders. The number of ADSs to be issued and sold by Vipshop
and to be sold by the selling shareholders will be determined at an
appropriate later date and will be reflected in an amendment to the
registration statement to be filed with the SEC. Each ADS represents two of
Vipshop's ordinary shares.

A registration statement relating to these securities has not been filed with
the SEC and, if filed, will not immediately become effective. The ADSs may not
be sold, nor may offers to buy be accepted, prior to the time the registration
statement relating to the proposed offering becomes effective.

This press release shall not constitute an offer to sell, or a solicitation of
an offer to buy, the securities described herein, nor shall there be any
offer, solicitation or sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Vipshop
may also make written or oral forward-looking statements in its periodic
reports to the SEC, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not historical
facts, including statements about Vipshop's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks
and uncertainties. A number of factors could cause actual results to differ
materially from those contained in any forward-looking statement, including
but not limited to the risks included in Vipshop's filings with the SEC. All
information provided in this press release and in the attachments is as of the
date of this press release, and Vipshop does not undertake any obligation to
update any forward-looking statement, except as required under applicable law.

SOURCE Vipshop Holdings Limited

Contact: Millicent Tu, +86 (20) 2233-0732,, for Vipshop
Holdings Limited; or, Jeremy Peruski, +1-646-405-4866,, for
ICR, Inc.
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