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190	190	The company aim to continue to work closely with the brand on reaching its future goals in China by improving its e-commerce services and expanding its e-commerce presence to other markets.
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192		-**Channels**
	192	+= Channels =
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194	194	The company currently work with major marketplaces such as Tmall and JD.com and major social media platform such as WeChat and Weibo, in China. The company also operate official brand stores. The company also provide services to its brand partners through O2O strategies. The company leverage all of these platforms to deliver omni-channel solutions that combine the strengths of diverse platforms to achieve optimal branding effect and sales results responsive to brands’ individual e-commerce objectives.
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196		-**Official Marketplace Stores**
	196	+== Official Marketplace Stores ==
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198	198	The company maintain close working relationships with the major marketplaces in China, such as Tmall and JD.com. The company's brand e-commerce solutions benefit third-party marketplaces by helping them attract new brand retailers. As such, marketplaces are often motivated to work closely with it to facilitate its ability to connect its brand partners to their systems.
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200	200	The company enter into annual platform service agreements with online marketplaces to set up and maintain online stores on these channels. Pursuant to these agreements, the company typically pay online marketplaces based on a pre-determined percentage of GMV for transactions settled that varies by product category, and typically ranges from 0.5% to 5.0%. The company also pay an annual upfront service fees to marketplaces, up to 100% of which may be refunded depending on its sales volume. The company also pay security deposit for potential disputes under these agreements.
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202		-**Official Brand Stores**
	202	+== Official Brand Stores ==
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204	204	The company also offer to work with its brand partners in setting up and operating their official brand stores. Based on its experience, consumers expect a total brand immersion on an official brand store that is different from the presentation of the brand’s stores in online marketplaces, which blend the brand’s image with the particular marketplace’s interface. The company utilize its in-house design team in crafting online and mobile sites for official brand stores and mobile sites that deliver impactful online presence for its brand partners. As of December 31, 2014, 2015 and 2016, the company operated 16, 19 and 26 official brand stores, respectively. As of December 31, 2016, the company operated mobile sites for 21 of its brand partners.
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206		-**Social Media Platforms**
	206	+== Social Media Platforms ==
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208	208	The company work with its brand partners to enhance awareness of their brands on social media platforms and within the broader online community. The company helped its brand partners set up accounts and design their homepage on social media platforms, such as WeChat and Weibo, and regularly update their accounts with stories relating to their products, activities and brands. The company also monitor comments on its brand partners accounts and work with its brand partners in responding to these comments. In addition, the company help brand partners directly integrates WeChat public account with their back-end systems across all marketplace platforms to enable flash sale or routine sale of branded products on social media platforms.
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210		-**O2O Solutions**
	210	+== O2O Solutions ==
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212	212	The company also help its brand partners devise and execute O2O strategies by integrating and utilizing their online/offline retail space and customer data to optimize sales opportunities and encourage a more connected consumer experience. The company's omni-channel capabilities help its brand partners achieve optimal branding effect and sales results that are responsive to its brand partners’ individual e-commerce objectives. Examples of its O2O capabilities include:
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216	216	* syncing online and offline QR codes; and
217	217	* providing brand partners with an effective channel to interact with offline consumers and providing offline consumers with a convenient and reliable channel to online shopping via interactive screens equipped in offline retail stores.
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219		-**Payment Service Providers**
	219	+== Payment Service Providers ==
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221	221	Third-party marketplaces, its brand partners’ official brand stores and its Maikefeng platform provide customers with the flexibility to choose from a number of payment options. These payment options include online payments with credit cards and debit cards issued by major banks in China, and payment through third-party online payment platforms, such as Alipay and Tenpay.
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223	223	In addition, official brand stores typically offer the “payment on delivery” payment option. The company's logistics partners deliver products to customers’ designated addresses and collect payment on site. In addition to accepting cash, delivery personnel carry mobile POS machines for processing debit cards and credit cards.
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225		-**Logistics Partners**
	225	+== Logistics Partners ==
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227	227	The company deliver orders placed on stores operated by it to all areas in China through reputable third-party couriers with nationwide coverage, such as SF Express, STO Express, YTO Express and EMS as well as other quality logistics services providers. Baozun is a partner of Cainiao, a leading logistics data platform operator affiliated with Alibaba Group, which enabled it to provide best-in-class services to a wider variety of merchants through Cainiao’s logistics data platform.
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229	229	The company leverage its large-scale operations and reputation to obtain favorable contractual terms from third-party couriers. The company typically negotiate and enter into annual logistics agreements with its logistics partners, under which the company agree to pay delivery fees based on the amount and the weight of the goods to be delivered, as well as the destination of the delivery.
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231		-**Technology Infrastructure and Capabilities**
	231	+= Technology Infrastructure and Capabilities =
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233	233	Baozun has made significant investments and will continue to invest in developing its proprietary technology platform to deliver solutions that aim to address e-commerce needs for its brand partners. The company's technology systems cover the whole e-commerce value chain, ranging from online store platforms to warehouse management and to data collection and reporting.
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243	243	* Data Exchange Platform: The company's data exchange platform manages all data integration requirements from external parties. It supports flexible synchronization of information with any system. It also acts as a buffer to help avoid overloading of its core systems, such as OMS & WMS.
244	244	* ShopDog O2O Merchant Tool: The company's ShopDog O2O merchant tool allows brand partners to tightly integrate their inventories across offline and online channels, and to sell inventory in offline stores through online stores.
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246		-**Intellectual Property**
	246	+= Intellectual Property =
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248	248	The company use its brand partners’ names, URLs, logos and other marks in connection with the operation and promotion of their e-commerce businesses. The company's agreements with its brand partners generally provide it with licenses to use their intellectual property in connection with the operation of their e-commerce businesses. These licenses are typically coterminous with the respective agreements.
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