Shanghai, China – Baozun Inc., a Chinese e-commerce solution provider and digital commerce enabler, has announced that it has entered definitive agreements to acquire Gap Greater China.
As part of its strategic plan to drive sustainable growth, Baozun has established Baozun Brand Management (BBM) as its new business line that intends to leverage its portfolio of technologies at the service of brands and deepen relationships with brands. The substantial size and scope of Gap Greater China are crucial in its development.
The company shared that the combination of its China-for-China strategy through Gap’s acquisition and its technology and data-driven approach in product and consumer operations will empower Gap for sustainable future growth.
Vincent Qiu, chairman, and chief executive officer of Baozun, commented, “This acquisition accelerates our evolution into a technology-driven, omnichannel commerce player. Technology is at the centre of our strategy, and it is our competitive advantage. With Gap’s brand equity and significant size in Greater China, BBM will start at a higher point to bridge the digital commerce/brick-and-mortar divide at scale and do what few have done in retail.”
“Baozun Brand Management is a strategic addition that naturally flows from the existing core e-commerce services business. We aim to leverage our leading technology portfolio and develop into a holistic, all-rounded partner for global brands to further unlock business potential in China. Meanwhile, we will also accelerate the establishment of our retail talent pool, supply chain capabilities, and IT systems to build an ecosystem and better serve our other brand partners,” added Qiu
Gap Greater China is the China division of Gap, the well-known American speciality apparel company. The China branch first opened its store in 2010.
“We are deeply committed to our customers in Greater China and know that it is a market with enormous potential for our brand,” stated Mark Breitbard, president and CEO of Gap Brand.
Breitbard added, “The growth that we are unlocking through local partnerships with market experts like Baozun is allowing us to not only connect with new and existing customers but to provide them with personalised, service-oriented experiences. With its best-in-class omnichannel technology and deep expertise in data management and digital business, Baozun has helped drive impressive results in our online growth and penetration of the Greater China market in the past four years, and we feel confident about our partner’s future value-creating China-for-China plans for Gap Greater China.”
