Total net revenues for the quarter reached RMB2.74 billion, a 7.5% increase year-over-year. The company’s two primary segments, Baozun E-Commerce (BEC) and Baozun Brand Management (BBM), showed divergent but complementary paths toward growth. BEC saw a 4.6% revenue increase, bolstered by digital marketing and IT service fees, while BBM recorded a 21.9% surge in revenue to RMB485.6 million, largely driven by the performance of the Gap brand in Greater China.

Management highlighted that the shift toward AI-powered automation and technology-driven operations contributed to the bottom line, with non-GAAP operating income rising to RMB74.3 million. Reflecting this momentum, the company raised its 2028 non-GAAP operating income target to at least RMB700 million. CFO Catherine Zhu noted that inventory turnover also improved significantly, with days of inventory falling to 112 from 134 a year prior, signaling a tighter grip on supply chain management.