In 2017, these numbers expect to increase to $379 billion in 2017, a CAGR of 43 percent. Baozun's brand partners grew from 56 in 2012 to 94 as of March 2015. The brands range from apparel, appliances, electronics, home, food and health, cosmetics and consumer goods, insurance and automobile. Many of its brand partners are market leaders in their industries, like Nike, Microsoft, Haagen Dazs, and Philips. China's largest e-commerce company, Alibaba Group Holding Ltd (NYSE: BABA ), owns 23 percent of Baozun through the company's investment unit Alibaba Investment Ltd. It is currently Baozun's largest investor. After the offering, its stake will fall to 18.2 percent and its voting power will reduce to 10 percent. Financial Info Baozun generates revenue in two ways: product sales and services. The company centers on one of three business models: distribution model, service fee model, and consignment model or combination of all three.