Chinese e-commerce business partner Baozun has agreed to acquire all of Shanghai Yi Shang Network Information’s (eFashion China) equity shares.
The all-cash transaction is in line with Baozun’s three-to-five-year medium-term strategic plan to drive future growth.
With the acquisition, Baozun aims to strengthen its position in the apparel market.
Based in Shanghai, eFashion China provides e-commerce solutions for fashion brands in China, with more than 400 employees as of writing.
The company, which aims to bring international fashion brands to China, provides one-stop e-commerce solutions, including brand consulting, store operation, digital marketing, IT solutions and customer service.
The deal is expected to close during the third quarter of this year subject to customary closing conditions being met. The financial details of the transaction have not been disclosed.
Baozun chairman and CEO Vincent Qiu said: “We are pleased to welcome eFashion China’s team to the Baozun family.
“We are excited about this acquisition as both Baozun and eFashion China share an ambition and commitment to bring global fashion brands to China’s fast-growing e-commerce market.
“eFashion China brings a strong understanding of apparel brands, efficient cost structure and impressive track record of high service quality.
“We believe our combined strengths will deliver unique added value to our brand partners of various stages of growth and sizes.”
eFashion China co-founder and CEO Johnson Zhang said: “We made a strategic decision to join Baozun to tap into its broad network and substantial resources to best serve our clients by providing them with a broader range of service options.
“Baozun is known for its leading technology, integrated ecosystem, omnichannel capabilities and innovative solutions, and its deep expertise in these fields will significantly empower our service capabilities.
“We believe this combination of highly complementary capabilities will make Baozun-eFashion China an even stronger partner of choice for established and emerging global fashion brands.”