Baozun Inc. (BZUN, Financial) has released its financial results for the third quarter of 2024, ending September 30. The company reported a net revenue of 2.1 billion yuan, marking a 13% increase compared to the previous year. The e-commerce segment contributed 1.8 billion yuan, reflecting a 14% growth, while the brand management segment generated 330 million yuan, up by 10%.
The company's founder, Chairman, and CEO, Mr. Qiu Wenbin, highlighted the robust growth in both e-commerce and brand management, driven by strategic initiatives. Notably, the Gap China business under Baozun's brand management witnessed comparable sales growth for the first time, showcasing the company's brand management capabilities and Gap's strategy of "rooted in China, serving China."
The third quarter was crucial for the continued recovery and positive momentum across Baozun's business lines, demonstrating the company's strategic resilience and adaptability. Looking forward, Baozun remains optimistic about its growth prospects and continues to execute its stock repurchase plan, having spent nearly $9.9 million on repurchasing American Depositary Shares since the beginning of the year.
