Baozun (BZUN) Gross Margin (2014 - 2026)

Baozun's Gross Margin history runs 13 years deep, the most recent figure standing at 70.53% for Q1 2026.

• In Q1 2026, Gross Margin fell 297.0% year-over-year to 70.53%; the TTM figure through Mar 2026 stood at 73.13% (down 21.0% YoY), while the FY2025 annual figure was 59.67%, down 1408.0% from the prior year.
• Gross Margin was 70.53% for Q1 2026 at Baozun, down from 75.21% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 76.18% in Q3 2022 to a low of 69.98% in Q1 2022.
• Historically, Gross Margin has averaged 73.17% across 5 years, with a median of 73.24% in 2023.
• The sharpest annual moves came in 2022 and 2023: Gross Margin surged 1068 bps in 2022, then tumbled 311 bps in 2023.
• A 5-year view of Gross Margin shows it stood at 74.8% in 2022, then retreated by 2 bps to 73.46% in 2023, then gained by 1 bps to 74.16% in 2024, then advanced by 1 bps to 75.21% in 2025, then slipped by 6 bps to 70.53% in 2026.
• The last three Gross Margin figures came in at 70.53% (Q1 2026), 75.21% (Q4 2025), and 74.97% (Q3 2025), per Business Quant data.