Our reporter Yuan Chuanxi
On November 22, Baozun E-commerce released its financial report for the third quarter of 2023 as of September 30, 2023. According to the financial report, Baozun's net income in the third quarter of 2023 was 1.8 billion yuan, a year-on-year increase of 5%, including a year-on-year increase of 26% in operating income from sports clothing; The operating cash flow continued to improve, achieving the first positive conversion in the same period in history. During the GAP China facelift, new products and stores were fully unveiled in the third quarter, with a significant increase in brand strength and a year-on-year increase in gross profit margin of over 10% to 56%. The brand management business contributed approximately 300 million yuan in revenue in the third quarter, with losses significantly narrowed compared to the same period last year.
Founder of Baozun E-commerce Qiu Wenbin, Chairman and CEO of Baozun Group, stated: I am deeply gratified by the progress made by Baozun Group in its strategic transformation process. Despite facing macro challenges, our revenue has increased by 5% year-on-year and our operating cash flow has significantly improved year-on-year. The brand management business has been effective, and Gap has steadily advanced in all aspects of transformation, achieving multiple important results in new products, new stores, market promotion, and awareness enhancement. These 'brand power upgrading' measures have transformed Gap from a discount driven brand in the past Gradually transforming into a brand that wins with consumer mentality. This quarter, we successfully created an Omni Channel Retail Operations Platform (ROP), laying a solid foundation for the continuous digital transformation of the Gap business
"We have reached a strategic acquisition intention with Tiktok's clothing category head service provider, Hangzhou Rockwin Information Technology Co., Ltd., and plan to acquire 51% of its equity. Rockwin is a leader in Tiktok's ecology and a pioneer in the field of live broadcast e-commerce, and deeply cultivates the clothing accessories track. Baozun's market leadership in creative content, brand matrix, and refined operation, combined with Rockwin's rich experience and unique insights in the field of live broadcast, will promote the birth of Baozun in Tiktok Walking at the forefront in the state. Tiktok's new chapter will also continue our achievements in other mainstream brand e-commerce platforms, marking another important milestone in our strategic transformation. " Qiu Wenbin concluded.