Baozun Announces Strategic Alliance with Fosun Fashion Group to Capture Potential of Luxury Sector
April 28 2021 - 6:00AM
Baozun Inc. (NASDAQ: BZUN and HKEX: 9991) (“Baozun” or the
“Company”), the leading brand e-commerce service partner that helps
brands execute their e-commerce strategies in China, announced
today a strategic alliance with Fosun Fashion Group (Cayman)
Limited (“Fosun Fashion Group” or “FFG”), a subsidiary of Fosun
International Limited (HKEX: 0656) (“Fosun”), an innovation-driven
consumer group, to capitalize on the emerging demand for luxury
brands in China.
Leveraging the strong momentum of China’s
consumer market, FFG manages Fosun’s portfolio of luxury and
fashion assets, while seeking investments in global retail brands.
Baozun and Fosun share a belief in the China market as one of the
brightest spots in the global luxury market, with prospects for
exponential growth, together with a faith in the critical
importance of China e-commerce to global brands.
Under the terms of the Strategic Business
Cooperation Agreement (“SBCA”), Baozun and FFG will work together
to develop best practices and achieve best results for FFG’s brands
in China e-commerce, while exploring opportunities to introduce new
brands to the Chinese market. Baozun will become the preferred
one-stop e-commerce solutions provider for all brands in FFG’s
portfolio, as well as FFG’s preferred partner in exploring new
business models and solutions for brand e-commerce. Baozun will
become a minority shareholder in FFG, along with other strategic
investors and seasoned industry players, by participating in FFG’s
financing, in which Fosun will serve as the lead investor. The
Company believes that, the SBCA and Baozun’s minority investment in
FFG will create a unique opportunity for the two partners to work
closely to capture this potential.
Mr. Vincent Qiu, Chairman and Chief Executive
Officer of Baozun commented, “We are pleased to have established a
strategic alliance with Fosun Fashion Group and are excited about
the opportunities ahead. Fosun Fashion Group not only brings us an
extended portfolio of luxury brand partners, but also gives us
deeper insight into the global luxury sector. The alliance helps to
extend our value chain in the luxury segment, taking advantage of
Fosun Fashion Group’s strong understanding of the brands and track
record in brand building. China is on its way to becoming the main
growth driver of the global luxury market. We believe our unique
position in the sector will bring added value to our brand partners
while at the same time contributing in a healthy and sustainable
way to our top and bottom lines within the next three to five
years.”
“As the global landscape of e-commerce changes,
there is no doubt that it is changing faster in China than any
other market,” Joann Cheng, Chairman of FFG said. She added, “We
made a strategic decision to collaborate with Baozun, with its
cutting-edge expertise, to introduce our brands to this very
dynamic market. We have been impressed by Baozun’s leadership in
providing technology-empowered infrastructure, serving brand
e-commerce in an integrated, digitalized and holistic ecosystem, as
well as its omni-channel capabilities and innovation. We believe
this strategic alliance is the first step in a deeper and broader
long-term relationship with Baozun while continuing a successful
journey with our brand partners in China’s e-commerce
industry.”
About Baozun Inc.
Baozun Inc. is the leader and a pioneer in the
brand e-commerce service industry in China. Baozun empowers a broad
and diverse range of brands to grow and succeed by leveraging its
end-to-end e-commerce service capabilities, omni-channel coverage
and technology-driven solutions. Its integrated one-stop solutions
address all core aspects of the e-commerce operations covering IT
solutions, online store operations, digital marketing, customer
services, and warehousing and fulfillment. For more information,
please visit http://ir.baozun.com.
About Fosun Fashion Group
(FFG)
Launched in 2017 and based in Shanghai, China,
FFG is a multi-disciplinary industry platform under Fosun
International Limited. that focuses on in-depth operations and
strategic investments in luxury fashion. Rooted in China with a
global vision, FFG is able to provide the complete solution for
brands’ sustainable growth. FFG believes that long-term value can
be created through a variety of strategic initiatives. These
include brand building, talent recruiting, product development,
strategic alliances, channel expansion, digitalization, as well as
full-spectrum local operation provided through its China operation
arm, Fosun Fashion Brand Management (FFBM). Through its unique
approach and position, FFG looks to create and connect cross-border
communities, empower talent and drive growth. For more information,
please visit http://fashion.fosun.com/.
Safe Harbor Statements
This press release 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,” “potential,”
“continue,” “ongoing,” “targets,” “guidance,” “going forward,”
“outlook” and similar statements. Statements that are not
historical facts, including quotes from management in this
announcement and statements about the Company’s strategies and
goals, are or contain 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 following: the Company’s operations and business
prospects; the Company’s business and operating strategies and its
ability to implement such strategies; the Company’s ability to
develop and manage its operations and business; competition for,
among other things, capital, technology and skilled personnel; the
Company’s ability to control costs; the Company’s dividend policy;
changes to regulatory and operating conditions in the industry and
geographical markets in which the Company operates; and other risks
and uncertainties. Further information regarding these and other
risks, uncertainties or factors is included in the Company’s
filings with the U.S. Securities and Exchange Commission and the
Company’s announcements, notice or other documents published on the
website of The Stock Exchange of Hong Kong Limited. All information
provided in this press release is as of the date of this press
release and is based on assumptions that the Company believes to be
reasonable as of this date, and the Company does not undertake any
obligation to update any forward-looking statement, except as
required under the applicable law.
For investor and media inquiries, please
contact:
Baozun Inc.:Ms. Wendy SunEmail: ir@baozun.com
ChristensenIn ChinaMr. Rene VanguestainePhone:
+852-6686-1376E-mail: rvanguestaine@christensenir.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
lbergkamp@ChristensenIR.com
Baozun (NASDAQ:BZUN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Baozun (NASDAQ:BZUN)
Historical Stock Chart
From Sep 2023 to Sep 2024