Chinese celebrity ambassador Lu Han appears in a Gucci campaign. Gucci
Baozun e-commerce, a service provider of brand e-commerce in China for luxury clients including Gucci, Burberry and Farfetch, has acquired consulting management firm, Full Jet, which has helped international fashion and sports brands, such as Adidas and Tommy Hilfiger, formulate offline distribution plans for the China market.
The total value of the acquisition was not disclosed, though it represents 1.25 times Full Jet’s 2020 tax, interest, depreciation and pre-amortisation profit (EBITDA).
As of September 30, 2020, Baozun e-commerce’s gross merchandising value (GMV) in the third quarter increased by 19.4 percent year-on-year to 10.85 billion yuan ($1.68 billion). Total net income reached 1.83 billion yuan ($283.15 million), an increase of 21.7 percent year-on-year.