Baozun Inc. BZUN

What this company does

Baozun provides services covering the core aspects of e-commerce operations, including IT solutions, online store operation, digital marketing, customer service, and warehousing and fulfilment. It serves brand partners under three business models, distribution, service fee and consignment, of which the distribution model generates product sales revenue and the other two generate services revenue. The company operates on major marketplaces such as Tmall, JD.com and Pinduoduo, on social media channels such as WeChat Mini Programs and RED (Xiaohongshu), and on live streaming and short video platforms such as Douyin and Kuaishou. As of December 31, 2025, it directly operated 30 warehouses with an aggregate gross floor area of approximately 850,000 square meters in nine cities, including Shanghai, Suzhou, Guangzhou, Langfang, Chengdu, Wuxi, Jiaxing, Jinan and Ezhou. Its businesses are organized in three business lines: Baozun E-commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI). For financial reporting, these lines are grouped into two operating segments: E-Commerce, which covers BEC and BZI, and Brand Management, which covers BBM. Baozun Brand Management designs, develops, manufactures and markets apparel and accessories under the brand portfolio it holds. Under arrangements with The Gap, Inc., the company holds the right to manufacture, market, distribute and sell Gap products in Greater China on an exclusive basis.

Written from the business description in Baozun Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 April 2026. Every sentence was checked against that document before publication.