Baozun Q4 Earnings Call Highlights

Baozun highlighted significant margin improvement. Zhu said group blended gross margin for product sales expanded 640 basis points to 36.5%, and quarterly gross profit rose 35.9% to RMB 451.5 million. E-commerce product sales gross margin improved to 18.4% from 10.8%, driven mainly by product mix optimization. Brand management gross margin rose to 52.1% from 50.4%, reflecting merchandising and marketing initiatives.Brand management product sales totaled RMB 663.7 million, up 24% year-over-year, which Zhu at ...