Baozun Deepens Strategic Partnership with Cainiao
BEIJING, China, July 22, 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 Baozun and its wholly-owned subsidiary, Baotong Inc. (“Baotong”) have signed a letter of intent (“LOI”) with Cainiao for its equity investment (“Investment”) in Baotong, Baozun’s warehousing and fulfillment solution subsidiary. Baozun, Baotong and Cainiao have also entered into a Letter of Intent of Business Cooperation Agreement (“LOI of BCA”) to further explore and develop brand e-commerce opportunities.
The Company believes Cainiao’s Investment in Baotong will help the Company to accelerate its pace to capture growing opportunities in China’s e-commerce industry. The completion of the Investment will enable the Company to leverage Cainiao’s national logistics expertise and technology to greatly improve its cost structure and enrich its service portfolio.
Concurrently, Baozun, Baotong and Cainiao have entered into the LOI of BCA, pursuant to which the parties will cooperate to develop competitive solutions in customized, high-value and digitalized logistics services. Baotong may also provide operational and technological management and consulting services, to Cainiao’s broader customer base.
Except for the provisions regarding exclusivity, confidentiality, expenses, public disclosure, governing law and dispute resolution, the LOI and LOI of BCA are not legally binding on the parties. The completion of the proposed transaction under the LOI is subject to negotiations among the parties regarding the signing of definitive agreements and the fulfilling of customary closing conditions contained therein.
About Baozun Inc.
Bazun 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.
Cainiao, founded in May 2013, is a global industrial internet company committed to creating customer value. With scientific and technological innovation as its core, it has been a pioneer in the areas of community services, global logistics, and smart supply chain. Cainiao has set up a leading global logistics network dedicated to providing consumers and businesses with affordable and high-quality services.
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