Baozun Acquires eFashion China to Extend its Reach in Branded Fashion Sector
BEIJING, China, June 28, 2021 (GLOBE NEWSWIRE) -- Baozun Inc. (NASDAQ: BZUN and HKEX: 9991) (“Baozun” or the “Company”), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, announced today that it has signed a definitive agreement to acquire 100% equity interest in Shanghai Yi Shang Network Information Co Ltd (“eFashion China”), a leading provider of e-commerce solutions for fashion brands in China, in an all-cash transaction. The acquisition is subject to the satisfaction of customary closing conditions and is expected to be completed in the third quarter of 2021.
Founded in 2008 and headquartered in Shanghai, eFashion China is an e-commerce solution provider that is focused on bringing international fashion brands to China. It provides brands with one-stop e-commerce solutions, including brand consulting, store operation, digital marketing, IT solutions and customer service. It has established itself as one of the key players in China’s branded apparel e-commerce space. It currently serves many well-known international brands, including international premium fashion, sportswear, and luxury brands.
This acquisition is an additional step in the execution of Baozun’s three-to-five-year medium-term strategic plan to drive future growth. It positions Baozun strongly to further penetrate the apparel category and reinforce its leadership. After the acquisition, eFashion China will serve as a sub-brand of Baozun and the companies will combine their comprehensive advantages to capture the growth potential of promising brands.
Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun commented, “We are pleased to welcome eFashion China’s team into the Baozun family. We are excited about this acquisition as both Baozun and eFashion China share an ambition and commitment to bring global fashion brands to the fast-growing China e-commerce market. eFashion China brings a strong understanding of apparel brands, efficient cost structure, and impressive track record of high service quality. We believe our combined strengths will deliver unique added value to our brand partners of various stages of growth and sizes.”
Mr. Johnson Zhang, Co-Founder and Chief Executive Officer of eFashion China, added, “We made a strategic decision to join Baozun to tap into its broad network and substantial resources to best serve our clients by providing them with a broader range of service options. Baozun is known for its leading technology, integrated ecosystem, omni-channel capabilities, and innovative solutions. Baozun’s deep expertise in these fields will significantly empower our service capabilities. We believe this combination of highly complementary capabilities will make Baozun-eFashion China an even stronger partner of choice for established and emerging global fashion brands.”
About Baozun Inc.
Baozun Inc. is the leader and a pioneer in the brand e-commerce service industry in China. Baozun empowers a broad and diverse range of brands to grow and succeed by leveraging its end-to-end e-commerce service capabilities, omni-channel coverage and technology-driven solutions. Its integrated one-stop solutions address all core aspects of the e-commerce operations covering IT solutions, online store operations, digital marketing, customer services, and warehousing and fulfillment. For more information, please visit http://ir.baozun.com.
About Shanghai Yi Shang Network Information Co Ltd
Based in Shanghai with 400+ employees, eFashion China has developed into one of the leading e-commerce service providers trusted by international fashion brands. eFashion China focuses on the field of global fashion and lifestyle, and provides brands with one-stop e-commerce solutions including brand consulting, store operation, digital marketing, IT solutions, customer service and etc. For more information, please visit https://www.efashionchina.com.
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