Service was Baozun’s largest product and service line in fiscal 2025, bringing in $6.10B of $9.95B (61%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Service | — | $5.45B | $5.96B | $6.10B | ||||||
| Product Sales | $2.64B | $3.36B | $3.47B | $3.85B | ||||||
| Product | — | — | — | — | ||||||
| Warehousing & Fulfillment | $2.38B | — | — | — | ||||||
| Digital Marketing & It Solutions | $1.75B | — | — | — | ||||||
| Online Store Operations | $1.62B | — | — | — | ||||||
| Onetime Online Store Design & Setup Services | — | — | — | — | ||||||
| Total | $8.40B | $8.81B | $9.42B | $9.95B |
Baozun brought in $9.95B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 5.6% from $9.42B in fiscal 2024. Service was the largest at $6.10B (61.3%), ahead of Product Sales at $3.85B (38.7%).
Compared with fiscal 2024, Product Sales grew 11.0% to $3.85B and Service grew 2.4% to $6.10B.
Baozun stopped reporting Warehousing & Fulfillment ($2.38B in fiscal 2022), Digital Marketing & It Solutions ($1.75B in fiscal 2022) and Online Store Operations ($1.62B in fiscal 2022) as separate lines.
E-Commerce was Baozun’s largest segment in fiscal 2025, bringing in $8.27B of $9.95B (83%).
| Segment | FY 2013 | FY 2014 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| E-Commerce | $8.40B | $7.62B | $8.07B | $8.27B | |||
| Brand E-Commerce | — | — | — | — | |||
| Salesrevenuenet | — | — | — | — | |||
| Brand Management | — | $1.27B | $1.47B | $1.85B | |||
| Maikefeng | — | — | — | — | |||
| Inter-Segment Eliminations | — | -$80.13M | -$122.39M | -$171.16M | |||
| Total | $8.40B | $8.81B | $9.42B | $9.95B |
Baozun brought in $9.95B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 5.6% from $9.42B in fiscal 2024. E-Commerce was the largest at $8.27B (83.2%), ahead of Brand Management at $1.85B (18.6%).
Compared with fiscal 2024, Brand Management grew 25.2% to $1.85B and E-Commerce grew 2.5% to $8.27B.
Baozun began breaking out Brand Management in fiscal 2023 and Inter-Segment Eliminations in fiscal 2023. The total is net of Inter-Segment Eliminations, which took $171.16M off revenue in fiscal 2025.
Baozun (BZUN) reports its revenue by product and service and by segment. In fiscal 2025, Service was its largest product and service line, bringing in $6.10B (61.3% of the total), followed by Product Sales at $3.85B (38.7%).
Service was Baozun's largest product and service line in fiscal 2025, bringing in $6.10B, or 61.3% of the $9.95B total across its two product and service lines.
E-Commerce was Baozun's largest segment in fiscal 2025, bringing in $8.27B, or 83.2% of the $9.95B total across its three segments.
Product Sales grew faster than Service in fiscal 2025, up 11.0% from $3.47B to $3.85B. Service grew 2.4% to $6.10B.
Every figure comes from Baozun's annual financial filings, as reported. Each line keeps the name Baozun gives it, and years follow its fiscal calendar.
Baozun's revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.