Dear Shareholders:
On behalf of the Board of Directors and the
management team of Baozun, I would like to express our sincere
appreciation for your continued support in Baozun. Despite the
challenges posed by weak macroeconomics and the on-going Covid-19
pandemic in 2022, we were able to progress our high-quality growth
strategies.
Accomplishments in e-Commerce
Service
At the beginning of 2022, we stressed that our
overall goal was high-quality sustainable business development. To
achieve this goal, we continuously focused on customer-centric
value creation, business diversification, and cost
optimization.
Throughout the year, we helped our partner
brands finetune consumer journeys and developed interactive user
engagement initiatives, including fan-generation campaigns,
AI-based short-video creation tools, game-based interactive social
marketing, and business intelligence dashboards to improve
decision-making.
Our omni-channel momentum continued, helping
brands identify evolving e-commerce trends to enhance resource
allocation efficiency in real time. At year-end, 42% of our brand
partners engaged with us on an omni-channel basis, and our
value-added services revenue stream grew to approximately 50% of
revenue by the end of 2022.
By centralizing our operating capabilities, we
further optimized costs and increased efficiency. We achieved this
by locating more than 60% of our customer service personnel in
regional centers, reducing costs and increasing service
quality.
Technology Empowerment
Adhering to our motto, “Technology empowers the
future success”, our technology and operating platforms serve as a
foundation for our broadened scope of services and markets. Our
technological edge defines our brand, setting us apart from
competitors, and has enabled us to forge a sustainable, symbiotic
relationship between physical retail and online commerce.
This year we also launched “Baozun Omni-Channel
Digital Operating Platform” or “BOCDOP” to deepen the
commercialization of technology and explore new market
opportunities. BOCDOP enables multiple channel order fulfillment
and delivers powerful omni-channel D2C, data intelligence and
decision support functionalities to our brand partners. Clearly,
our technology remains the backbone supporting business development
and innovations, while also enhancing efficiency and enabling
business model innovation to drive additional growth for
Baozun.
Expanded Business Scope
Despite a challenging environment in 2022, our
diversified business and optimized costs further enhanced our
business resilience, and we were able to generate a record annual
operating cash flow of RMB383 million. While it may take more time
for a full recovery in consumer sentiment, we are encouraged by our
brand partners’ long-term commitments to further explore and invest
into the China market. Looking forward, we see a trend of
empowerment by technology and digitalization to engage with
consumers in a more precise and interactive journey. Reflecting
this trend, we have upgraded Baozun into three major
business lines -- Baozun e-Commerce (BEC), Baozun Brand Management
(BBM), and Baozun International (BZI).
Baozun Brand Management is a strategic addition
that naturally flows from our existing core e-commerce services
business. BBM leverages our dominant portfolio of technologies at
the service of brands to engage in longer and deeper relationships.
We aim to develop into a holistic, all-rounded partner for global
brands to further unlock business potential in China. For
BBM’s first milestone, we acquired Gap Greater China. We believe
the combination of our China-for-China strategy and technology
and data-driven approach in product and consumer operations will
propel Gap Greater China and our future brand portfolio to
sustainable growth.
Baozun International is a longer-term
opportunity that we will patiently invest in and explore. We have a
natural opportunity to replicate our China E-Commerce success. We
work with Brand Partners to co-develop “Glocalization”.
Glocalization is a term combining “global” and “local” and refers
to our philosophy that while we pursue global opportunities, we
will rely on local expertise and resources.
We are poised with our expanded business scope.
BEC anchors our core business; BBM is our growth focus in the next
three years; and, BZI represents a longer-term opportunity that we
will continue to explore and improve. With greater business
diversification and expanded leadership, we are confident in our
roadmap.
Committed to Sustainability
Green development and sustainability are
integral to our operating methodology, and positively impact every
aspect of our business. We are committed to improving energy
efficiency and reducing energy waste in warehousing and logistics
parks. Putting our beliefs into action, we have promoted "full
chain" green low-carbon operations, built a green e-commerce
ecosystem, and cooperated with supply chain partners to explore
green procurement, packaging, and transportation for demand
fulfillment to create for a sustainable future. We also encourage
the active participation of our employees, brand partners,
consumers and other stakeholders to promote a sustainable lifestyle
while building a green e-commerce system.
At Baozun, we believe our greatest asset is our
people. In 2022, we upgraded our "Baozun Campus", which offers our
employees the opportunity to learn how to optimize their career
growth trajectory. In recognition of these efforts, we were awarded
the Best Employer Brands Award for the seventh consecutive
year.
Overall, our ability to maintain operations and
support our partners’ success during times of macro uncertainty
highlights the durability and strength of our business model. As we
anticipate a more favorable macro environment in 2023, we are
confident that our roadmap and excellent team will drive
sustainable results.
Sincerely,
Vincent Wenbin QiuFounder, Chairman and Chief
Executive OfficerBaozun Inc.
Safe Harbor Statements
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,” “confident,”
“potential,” “continues,” “ongoing,” “targets,” “guidance,” “going
forward,” “looking forward,” “outlook” or other similar
expressions. Statements that are not historical facts, including
but not limited to statements about Baozun’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 Baozun’s filings with the United States Securities
and Exchange Commission and its announcements, notices or
other documents published on the website of The Stock Exchange
of Hong Kong Limited. All information provided in this announcement
is as of the date hereof and is based on assumptions
that Baozun believes to be reasonable as of this date,
and Baozun undertakes no obligation to update such
information, except as required under applicable law.
About Baozun Inc.
Founded in 2007, Baozun Inc. is a
leader in brand e-commerce service, brand management, and digital
commerce service. It serves more than 400 brands from various
industries and sectors around the world, including East
and Southeast Asia, Europe and North
America.
Baozun Inc. comprises three major business
lines -- Baozun e-Commerce (BEC), Baozun Brand
Management (BBM) and Baozun International (BZI) and
is committed to accelerating high-quality and sustainable growth.
Driven by the principle that “Technology Empowers the Future
Success”, Baozun’s business lines are devoted to empowering their
clients’ business and navigating their new phase of
development.
For more information, please
visit http://ir.baozun.com.
For investor and media inquiries, please
contact:
Baozun Inc.Ms. Wendy
SunEmail: ir@baozun.com
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