BRIEF: Baozun’s loss narrows in the third quarter
E-commerce services provider Baozun Inc. (9991.HK; BZUN.US) said on Thursday that its revenue in the third quarter rose 12.8% year-on-year to 2.06 billion yuan ($284 million), while its loss narrowed by 30% to 88.1 million yuan.
Chairman and CEO Qiu Wenbin credited the revenue grown to solid performance from Baozun’s two key businesses in e-commerce brand management. Baozun acquired U.S. retailer GAP’s China operation early last year, in a move to diversify beyond its original e-commerce services into brand management.
CFO Catherine Zhu pointed out that during the period, e-commerce segment revenue increased by 13.9%, while brand management revenue rose 10.3%. She said e-commerce product sales started growing again after falling for 12 consecutive quarters.
By Lau Chi Hang
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