T. H. Data Flash - Baozun Inc. – December & 4Q21E: Positive On 4Q21 Performance As BZUN Adds New Brands And Diversifies Its Operation Channels
We are positive on BZUN’s 4Q21E performance. The company did two things that we believe are constructive for its business: 1) acquiring brand partners to enable BZUN to continue to gain new brands; and 2) diversifying its operation channels beyond just BABA’s platform to JD.com, ByteDance and KWAI, which can enable the increase of same brands’ total online sales.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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