Baozun Inc. (BZUN) Q1 2025 Earnings – Full Coverage
*Baozun Inc. (BZUN) Q1 2025 Earnings – Full Coverage* *Key Highlights:* *Financials* – Q1 revenue $294,000K USD, up 4.3% YoY; BBM revenue $54,180K USD, up 23%; gross margin 32.4%; $500B global e-commerce market. *Operations* – BEC stable; BBM (Gap, Hunter) grew 23%; omni-channel expanded; tariffs impact ~1% via mitigation. *Strategy* – CEO Vincent Qiu emphasized transformation; CFO Catherine Zhu highlighted margins; focus on AI, omni-channel; tariffs mitigated via China operations. *Outlook* – 618 campaign strong; 50 new BBM stores in 2025; aim for BBM breakeven Q4; sustainability pro…