Baozun Inc. (NASDAQ:BZUN) Q2 2020 Earnings Conference Call - Final Transcript
Aug 21, 2020 • 07:00 am ET
Good morning and good evening, ladies and gentlemen, and thank you for standing by for Baozun's Second Quarter 2020 Earnings Conference Call. [Operator Instructions] After management's prepared remarks, there will be a question-and-answer session. [Operator Instructions].
I would now like to turn the meeting over to your host for today's call Ms. Wendy Sun, Investor Relations Director of Baozun. Please proceed, Wendy.
Thank you, operator. Thank you, everyone, and thank you for joining us today. Our second quarter 2020 earnings release was distributed earlier today and is available on our IR website at ir.baozun.com as well as on GlobeNewswire services. On the call today from Baozun we have Mr. Vincent Qiu, Chairman and Chief Executive Officer; Mr. Junhua Wu, Chief Growth Officer; and Mr. Robin Lu, Chief Financial Officer. Mr. Qiu will review the business operations and the company highlights followed by Mr. Lu who will discuss financials and guidance. They will all be available to answer your questions during the Q&A session that follows. Before we begin, I would like to remind you that this conference call contains forward-looking statements within the meaning of the Securities Exchange Act of 1934 and the US Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based upon management current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control, which may cause the company's actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the company's filings with the US SEC. The company does not undertake any obligation to update any forward-looking statement except as required under applicable law. Finally, please note that unless otherwise stated, all figures mentioned during this call are in RMB.
It is now my pleasure to introduce our Chairman and Chief Executive Officer, Mr. Vincent Qiu. Vincent, please go ahead.
Vincent Wenbin Qiu
Thank you, Wendy, and thank you all for joining us today. While many sectors in China are still navigating the challenges imposed by COVID-19, we saw a strong recovery in e-commerce in the second quarter. Consumers are increasingly adopting e-commerce as part of their daily lives and are spending more on categories that improve their quality of life. This in turn is creating an even larger opportunity for the retail industry to accelerate online penetration further and we are seeing growing needs from our brand partners for creative go-to-market strategies, technical IT, data analysis and marketing solutions, sophisticated and integrated omnichannel initiatives, and logistic services.
We believe the strength of our results reflects our unique ability to create additional value for our brand partners and it speaks to the resilience of our business. I'm very proud of what our team has accomplished so far in this unique environment in 2020.
For the second quarter, our GMV grew by 31% year-over-year and more importantly, we saw