Frank Tao's questions to Baozun (BZUN) leadership • Q2 2025
Question
Frank Tao of CNBI questioned the growth outlook for the Baozun e-commerce (BEC) business, progress on operating efficiency, and second-half growth expectations. He also asked about the benefits from being a first-batch service provider for the RedNote (Xiaohongshu) and Tmall cooperation and followed up on rumors of a new yoga brand onboarding.
Answer
Chief Strategy Officer Junhua Wu confirmed that efficiency improvements are ongoing and expressed confidence in a strong second half, particularly for the 11/11 campaign. He stated that being a first-batch RedNote partner provides strong credentials and is expected to drive revenue. Chairman and CEO Vincent Wenbin Qiu confirmed an agreement with a yoga brand, a former BEC client, noting it will benefit from Baozun's existing design, supply chain, and marketing capabilities, highlighting the huge potential in the sports apparel market.