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Baozun (NASDAQ:BZUN), ecommerce company based in China announced its unaudited second quarter financial results reporting a 47 percent increase in revenue year-over-year, reaching US$248.2 million. This marked the fastest growth in quarterly revenues for the company in the past three years. As quoted in the press release: Second Quarter 2019 Financial Results Total net revenues were …
Baozun (NASDAQ:BZUN), ecommerce company based in China announced its unaudited second quarter financial results reporting a 47 percent increase in revenue year-over-year, reaching US$248.2 million. This marked the fastest growth in quarterly revenues for the company in the past three years.
As quoted in the press release:
Second Quarter 2019 Financial Results
Total net revenues were RMB1,704.2 million (US$248.2 million), an increase of 47.0% from RMB1,159.1 million in the same quarter of last year.
Product sales revenue was RMB849.1 million (US$123.7 million), an increase of 47.2% from RMB577.0 million in the same quarter of last year. The increase was primarily attributable to the acquisition of new brand partners, the increased popularity of brand partners’ products, and Baozun’s increasingly effective marketing and promotional campaigns.
Services revenue was RMB855.1 million (US$124.5 million), an increase of 46.9% from RMB582.1 million in the same quarter of last year. The increase was primarily attributable to the rapid growth of the Company’s consignment model and service fee model, and in particular, strong growth in digital marketing services.
Total operating expenses were RMB1,618.4 million (US$235.7 million), compared with RMB1,100.8 million in the same quarter of last year.