SHANGHAI, China, July 28, 2016 (GLOBE NEWSWIRE) -- Baozun Inc. (Nasdaq:BZUN) ("Baozun" or the "Company"), the leading brand e-commerce solutions provider in China, today announced that it has signed a strategic cooperation agreement with CJ O Shopping, a division of CJ Group, a Korean culture and life-style conglomerate, to establish an e-commerce joint-venture (the “JV”). The JV will leverage each company’s respective market leading position and resources in e-commerce operations, online marketing and logistics to introduce highly sought after Korean brands to Chinese consumers.
Baozun will take a controlling 51% stake in the JV and leverage its position as China’s leading brand e-commerce solutions provider to manage the JV’s e-commerce operations and services. Through its division CJ O Shopping, CJ Corporation will be responsible for brand selection and launch in China.
Founded in 1953, CJ Corporation is the largest international comprehensive culture and life-style conglomerate in Korea with a diverse number of brands under management across a variety of industries including a number of brands that have been successfully launched in China such as food and food services, pharmaceuticals and biotechnology, logistics, entertainment and media.
Mr. Min Heoi Heo, Chief Executive Officer of CJ O Shopping, commented, “We are very pleased to begin a relationship with Baozun and look forward to leveraging their market leading position and omni-channel e-commerce solutions. We are currently focused on introducing highly recognized brands to Chinese consumers and are in talks with a number of other well-known Korean apparel, beauty products and fast moving consumer goods brands. Together, we will further expand the categories on offer.”
Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, commented, “We are excited to begin working with CJ Corporation through this JV which will provide us opportunities to not only cooperate in running the business, but also integrate our respective market leading resources to create more synergies to improve the implementation of our strategy. The JV will act as an important channel for the introduction of Korean products to Chinese consumers and potentially Chinese products to Korean consumers in the future.”
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
About Baozun Inc.
Baozun is the leading brand e-commerce solutions provider in China that helps brand partners execute their e-commerce strategies. The Company's integrated capabilities encompass all aspects of the e-commerce value chain, covering IT solutions, store operations, digital marketing, customer services, warehousing and fulfillment. The Company helps brand partners execute their e-commerce strategies in China by selling their goods directly to customers online or by providing services to assist with their e-commerce operations.
For more information, please visit http://ir.baozun.com
For investor and media inquiries, please contact:
Ms. Caroline Dongir@baozun.com
Mr. Christian Arnell
Ms. Linda Bergkamp