By CHENG Lu
E-commerce solutions provider Baozun Inc.’s revenue for Q2 reached 2.3 billion yuan (US$320 million), 9.3 percent year-on-year growth. A net loss of 4.4 million yuan, contrasts with the 1.3-million-yuan profit during the same period last year.
Among its business segments, product sales revenue stood at 606 million yuan, while service revenue reached 1.4 billion yuan, down 2.7 due to reduced income from warehousing and fulfillment.
The company’s focus remains on expanding its presence. Its gross merchandise value (GMV) generated by non-Tmall platforms and channels accounted for 34.1 percent of total GMV, up from 24.4 percent in 2022. Approximately 46.1 percent of brand partners collaborated across multiple channels, compared to 40.2 percent in the previous year.
Baozun reported double-digit revenue growth in categories such as sportswear, beauty, and cosmetics this quarter.
In terms of its brand management business, which includes Gap, sales reached 324 million yuan, with a gross profit margin of 51.9 percent. Adjusted, this business operated at a loss of 60.1 million yuan.
Operating expenses increased, mainly due to the acquisition of Gap Shanghai. However, excluding Gap’s costs, remaining operating expenses decreased by 151.7 million yuan, a 7.1-percent drop.
Baozuns founder and CEO, Vincent Wenbin Qiu, acknowledged macro challenges but stressed progress across all business lines, highlighting the transition to a new growth curve, Gap Shanghai’s strategic shift, and ongoing international expansion efforts.
