Baozun : OVERSEAS REGULATORY ANNOUNCEMENT AND INSIDE INFORMATION ANNOUNCEMENT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Under our weighted voting rights structure, our share capital comprises Class A ordinary shares and Class B ordinary shares. Each Class A ordinary share entitles the holder to exercise one vote, and each Class B ordinary share entitles the holder to exercise ten votes, respectively, on any resolution tabled at our general meetings, except as may otherwise be required by law or provided for in our memorandum and articles of association. Shareholders and prospective investors should be aware of the potential risks of investing in a company with a weighted voting rights structure. Our American depositary shares, each representing three of our Class A ordinary shares, are listed on the Nasdaq Global Select Market in the United States under the symbol BZUN.

Baozun Inc.

寶尊電商有限公司*

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

(Stock Code: 9991)

OVERSEAS REGULATORY ANNOUNCEMENT

AND

INSIDE INFORMATION ANNOUNCEMENT

This announcement is made by the board of directors of Baozun Inc. (the "Company") pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

The Company furnished a Form 6-K to the Securities and Exchange Commission of the United States (the "SEC") in relation to the announcement of the strategic alliance with Fosun Fashion Group to capture potential of luxury sector.

Please refer to the attached document for the announcement in relation to the strategic alliance contained in the Form 6-K. Full report of the Form 6-K is available for viewing on the website of the SEC at www.sec.gov and on our website at www.baozun.com.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in or investing in the securities of the Company.

By order of the Board

Baozun Inc.

Vincent Wenbin Qiu

Chairman

Hong Kong, April 28, 2021

As at the date of this announcement, our board of directors comprises Mr. Vincent Wenbin Qiu as the chairman, Mr. Junhua Wu, Mr. Satoshi Okada and Ms. Jessica Xiuyun Liu as directors, and Mr. Yiu Pong Chan, Ms. Bin Yu, Mr. Steve Hsien-Chieng Hsia and Mr. Benjamin Changqing Ye as independent directors.

• for identification purposes only

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Baozun Announces Strategic Alliance with Fosun Fashion Group to Capture Potential of Luxury Sector

Beijing, China, April 28, 2021 - Baozun Inc. (NASDAQ: BZUN and HKEX: 9991) ("Baozun" or the "Company"), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, announced today a strategic alliance with Fosun Fashion Group (Cayman) Limited ("Fosun Fashion Group" or "FFG"), a subsidiary of Fosun International Limited (HKEX: 0656) ("Fosun"), an innovation-driven consumer group, to capitalize on the emerging demand for luxury brands in China.

Leveraging the strong momentum of China's consumer market, FFG manages Fosun's portfolio of luxury and fashion assets, while seeking investments in global retail brands. Baozun and Fosun share a belief in the China market as one of the brightest spots in the global luxury market, with prospects for exponential growth, together with a faith in the critical importance of China e-commerce to global brands.

Under the terms of the Strategic Business Cooperation Agreement ("SBCA"), Baozun and FFG will work together to develop best practices and achieve best results for FFG's brands in China e-commerce, while exploring opportunities to introduce new brands to the Chinese market. Baozun will become the preferred one-stope-commerce solutions provider for all brands in FFG's portfolio, as well as FFG's preferred partner in exploring new business models and solutions for brand e-commerce. Baozun will become a minority shareholder in FFG, along with other strategic investors and seasoned industry players, by participating in FFG's financing, in which Fosun will serve as the lead investor. The Company believes that, the SBCA and Baozun's minority investment in FFG will create a unique opportunity for the two partners to work closely to capture this potential.

Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun commented, "We are pleased to have established a strategic alliance with Fosun Fashion Group and are excited about the opportunities ahead. Fosun Fashion Group not only brings us an extended portfolio of luxury brand partners, but also gives us deeper insight into the global luxury sector. The alliance helps to extend our value chain in the luxury segment, taking advantage of Fosun Fashion Group's strong understanding of the brands and track record in brand building. China is on its way to becoming the main growth driver of the global luxury market. We believe our unique position in the sector will bring added value to our brand partners while at the same time contributing in a healthy and sustainable way to our top and bottom lines within the next three to five years."

"As the global landscape of e-commerce changes, there is no doubt that it is changing faster in China than any other market," Joann Cheng, Chairman of FFG said. She added, "We made a strategic decision to collaborate with Baozun, with its cutting-edge expertise, to introduce our brands to this very dynamic market. We have been impressed by Baozun's leadership in providing technology-empowered infrastructure, serving brand e-commerce in an integrated, digitalized and holistic ecosystem, as well as its omni-channel capabilities and innovation. We believe this strategic alliance is the first step in a deeper and broader long-term relationship with Baozun while continuing a successful journey with our brand partners in China's e-commerce industry."

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About Baozun Inc.

Baozun Inc. is the leader and a pioneer in the brand e-commerce service industry in China. Baozun empowers a broad and diverse range of brands to grow and succeed by leveraging its end-to-ende-commerce service capabilities, omni-channel coverage and technology-driven solutions. Its integrated one-stop solutions address all core aspects of the e-commerce operations covering IT solutions, online store operations, digital marketing, customer services, and warehousing and fulfillment. For more information, please visit http://ir.baozun.com.

About Fosun Fashion Group (FFG)

Launched in 2017 and based in Shanghai, China, FFG is a multi-disciplinary industry platform under Fosun International Limited. that focuses on in-depth operations and strategic investments in luxury fashion. Rooted in China with a global vision, FFG is able to provide the complete solution for brands' sustainable growth. FFG believes that long-term value can be created through a variety of strategic initiatives. These include brand building, talent recruiting, product development, strategic alliances, channel expansion, digitalization, as well as full-spectrum local operation provided through its China operation arm, Fosun Fashion Brand Management (FFBM). Through its unique approach and position, FFG looks to create and connect cross-border communities, empower talent and drive growth. For more information, please visit http://fashion.fosun.com/.

Safe Harbor Statements

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance," "going forward," "outlook" and similar statements. Statements that are not historical facts, including quotes from management in this announcement and statements about the Company's strategies and goals, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's operations and business prospects; the Company's business and operating strategies and its ability to implement such strategies; the Company's ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; the Company's ability to control costs; the Company's dividend policy; changes to regulatory and operating conditions in the industry and geographical markets in which the Company operates; and other risks and uncertainties. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission and the Company's announcements, notice or other documents published on the website of The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under the applicable law.

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For investor and media inquiries, please contact:

Baozun Inc.:

Ms. Wendy Sun

Email: [e-mail]

Christensen In China

Mr. Rene Vanguestaine

Phone: [phone]

E-mail: [e-mail]

In U.S.

Ms. Linda Bergkamp Phone: [phone]

Email: [e-mail]

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