"I'm pleased that in the second quarter, E-Commerce revenue returned to growth after ten quarters of contraction, highlighting our effective revitalization efforts in both services and product sales," said Vincent Qiu, Chairman and CEO of Baozun.
"The company's services revenue, which includes online store operations and digital marketing, grew 9.4% YoY to RMB1.52 billion ($209.3 million). This was driven by double-digit growth in sportswear store operations and strong performance in digital marketing services."
"Looking ahead, the company expects revenue growth momentum to continue for the remainder of 2024. Baozun also repurchased approximately 2 million ADSs for $4.9 million during the quarter under its share buyback program."
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