<SEC-DOCUMENT>0001104659-23-093273.txt : 20230926
<SEC-HEADER>0001104659-23-093273.hdr.sgml : 20230926
<ACCEPTANCE-DATETIME>20230818090104
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-23-093273
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230818

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Baozun Inc.
		CENTRAL INDEX KEY:			0001625414
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		NO. 1-9, LANE 510, WEST JIANGCHANG ROAD
		STREET 2:		JING'AN DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200436
		BUSINESS PHONE:		(86-21) 60809991

	MAIL ADDRESS:	
		STREET 1:		NO. 1-9, LANE 510, WEST JIANGCHANG ROAD
		STREET 2:		JING'AN DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200436

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Baozun Cayman Inc.
		DATE OF NAME CHANGE:	20141114
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

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    <TD STYLE="text-align: left; width: 26%; font-size: 10pt; vertical-align: middle"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="PPT_Sidley Austin LLP.gif" STYLE="height: 39px; width: 148px">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; white-space: nowrap; width: 40%"><FONT STYLE="font-size: 8pt">SIDLEY AUSTIN <BR>
    39/F, TWO INT'L FINANCE CENTRE<BR> CENTRAL, HONG KONG<BR>
    +852 2509 7888<BR>
 <FONT STYLE="text-transform: none">+852 2509 3110 FAX<BR>
    <BR>
    </FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">AMERICA&#8239;&#8239;</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>&#8239;&#8239;ASIA
    PACIFIC&#8239;&#8239;<FONT STYLE="font-family: Symbol">&middot;</FONT>&#8239;&#8239;EUROPE</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left; width: 30%; vertical-align: bottom"><FONT STYLE="font-size: 8pt; text-transform: uppercase">meng.ding@sidley.com<BR>
    </FONT><FONT STYLE="font-size: 8pt">+852 2509 7858</FONT></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">August 18, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Disclosure Review Program</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%">Attn:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%; text-align: left">Kyle Wiley</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Christopher Dunham</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="font-size: 10pt; width: 6%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 5%">Re:</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 89%; text-align: left">Baozun Inc.</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Form 20-F for the Fiscal Year Ended December 31, 2022</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">File No. 001-37385</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Wiley and Mr. Dunham,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On behalf of our client, Baozun Inc., an exempted company organized
under the laws of the Cayman Islands (the &ldquo;Company&rdquo;), we submit to the staff (the &ldquo;Staff&rdquo;) of the Securities and
Exchange Commission (the &ldquo;Commission&rdquo;) this letter setting forth the Company&rsquo;s responses to the comments contained in
the Staff&rsquo;s letter dated August 4, 2023 on the Company&rsquo;s Annual Report on Form 20-F for the fiscal year ended December 31,
2022 (&ldquo;Annual Report&rdquo;). The Staff&rsquo;s comments are repeated below in italics and are followed by the Company&rsquo;s responses.
Defined terms used but not defined herein have the meanings assigned to such terms in the Annual Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.3pt 0pt 0"><B><U>Form 20-F for the Fiscal Year Ended December 31, 2022</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.3pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.3pt 0pt 0"><B><U>Item 16I. Disclosure Regarding Foreign Jurisdictions
that Prevent Inspections, page 173</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.3pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.4pt"></TD><TD STYLE="width: 32.05pt"><I>1.</I></TD><TD><I>We note your statement that you reviewed your register of members and public filings made by its shareholders, in connection with
your required submission under paragraph (a). Please supplementally describe any additional materials that were reviewed and tell us whether
you relied upon any legal opinions or third party certifications such as affidavits as the basis for your submission. In your response,
please provide a similarly detailed discussion of the materials reviewed and legal opinions or third party certifications relied upon
in connection with the required disclosures under paragraphs (b)(2) and (3).</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Partners
</B></FONT><FONT STYLE="font-size: 8pt">| Constance Choy H.M., Desmond Ang C.K., (Stephanie) Chan C. M., (Christopher) Cheng C.H., Meng
Ding, Dominic D. James, (Sherlyn) Lau S.Y., David K. Lee,<BR>
Olivia Ngan S.M., (Raymond) Oh C.H., Yuet Ming Tham, (Friven) Yeoh K.H., Claudia Yu K.W., Yan Zhang<BR>
<B>Registered Foreign Lawyers</B> | Gordon H. I. Davidson (England and Wales)*, (Carrie) Li J. (New York)*, G. Matthew Sheridan (New
York)*,<BR>
Effie Vasilopoulos (New South Wales)*, (Renee) Xiong Y. (New York)*, (Oliver) Zhong Q. (New York)*<BR>
<B>Consultants</B> | Hon Au Yeung, Huberta Chow X.L., Patrick Liu L., (Winnie) Mak T.M., Dominic Sze C.K.,<BR>
Douglas Tsang C.L., (Eva) Tsui Y.W, Alan Wong C.K., Felicity Wong K.Y., Holly Yeung S.M., Iris Yuen L.S.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">* Partner of Sidley
Austin Holding LLP (a Delaware Limited Liability Partnership)<BR>
 &deg; Foreign Legal Consultant / Legal Counsel</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 0.5in"><B>Response:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the required submission and disclosures under
paragraphs (a) and (b)(3) of Item 16I, the Company respectfully submits that it relied on the Schedules 13G and the amendments
thereto filed by the Company&rsquo;s major shareholders. The Company believes such reliance is reasonable and sufficient, because
such major shareholders are legally obligated to file beneficial ownership schedules with the Commission. Based on the
Company&rsquo;s examination of the Schedules 13G and the amendments thereto, the shareholders owning more than 5% of the
Company&rsquo;s equity securities or voting power are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 21pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 6.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Alibaba Investment Limited (&ldquo;Alibaba
Investment&rdquo;), </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 21pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 6.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jesvinco Holdings Limited (&ldquo;Jesvinco&rdquo;),
and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 21pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 6.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Casvendino Holdings Limited (&ldquo;Casvendino&rdquo;).
</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><FONT STYLE="font-size: 10pt">On the basis of the Company&rsquo;s
knowledge and review of publicly available information regarding these shareholders, the Company is not aware of any information indicating
that any of these the entities above are owned or controlled by a governmental entity of the People&rsquo;s Republic of China (the &ldquo;PRC&rdquo;,
excluding, for the purpose of this letter, Taiwan, the Hong Kong Special Administrative Region and the Macau Special Administrative Region).
</FONT>&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Following are additional details that the Company considered in making such determination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><I><U>Alibaba Investment</U>. </I>Alibaba Investment
is a limited liability company incorporated under the laws of the British Virgin Islands, and is wholly owned by Alibaba Group Holding
Limited (&ldquo;Alibaba Group&rdquo;). Alibaba Group is a public company listed on the New York Stock Exchange and The Stock Exchange
of Hong Kong Limited. According to Alibaba Group&rsquo;s annual report on Form 20-F for the fiscal year ended March 31, 2023 filed with
the Commission and the Schedules 13G and the amendments thereto filed on February 14, 2023, SoftBank Group Corp., which is organized in
Japan, is the only shareholder with a beneficial interest in 5% or more of any class of voting shares of Alibaba Group. Based on the foregoing,
the Company believes that: (i) Alibaba Investment is not owned or controlled by a PRC governmental entity, and (ii) PRC governmental entities
do not have a controlling financial interest in Alibaba Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><I><U>Jesvinco</U>.</I> Jesvinco is a British Virgin Islands
company, which is wholly owned by Mr. Vincent Wenbin Qiu, based on a review of the share register of Jesvinco.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><I><U>Casvendino</U>.</I> Casvendino is a British Virgin
Islands company, which is wholly owned by Mr. Junhua Wu, based on a review of the share register of Casvendino.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Page 3</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">Based on the foregoing, the Company believes that: (i) it
is not owned or controlled by a PRC governmental entity, and (ii) PRC governmental entities do not have a controlling financial interest
in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">In addition, as disclosed in the Annual Report, the Company
consolidates into its financial statements a variable interest entity, Shanghai Zunyi Business Consulting Ltd. (the &ldquo;VIE&rdquo;),
through contractual arrangements. The VIE is 80% owned by Mr. Vincent Wenbin Qiu, and 20% owned by Mr. Michael Qingyu Zhang, both of whom
are natural persons. Therefore, to the best of the Company&rsquo;s knowledge, the VIE is not owned or controlled by a PRC governmental
entity, and no PRC governmental entity has a controlling financial interest in the VIE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the disclosures required under paragraph (b)(2)
of Item 16I, the Company respectfully submits that, based on its register of members as of March 31, 2023, its shareholders included:
(i) JPMorgan Chase Bank, N.A.; (ii) certain natural persons that are employees of the Company; and (iii) institutional shareholders. JPMorgan
Chase Bank, N.A. is the depositary of the Company&rsquo;s ADSs and acts as the attorney-in-fact for the ADS holders. It would present
an undue hardship for the Company to verify the background of each ADS holder due to the large number of such holders. Instead, as described
above, the Company reviewed the Schedules 13G and the amendments thereto filed by the beneficial owners of 5% or more of the Company&rsquo;s
shares. Based on such public filings, none of the holders who own more than 5% of the Company&rsquo;s shares is a governmental entity
in the Cayman Islands. Based on the examination of publicly available information, such as the institutional shareholders&rsquo; websites
and the Schedules 13G and the amendments thereto filed by them, to the best of the Company&rsquo;s knowledge, no governmental entities
in the Cayman Islands own shares of any of the institutional shareholders. Therefore, to the best of the Company&rsquo;s knowledge, no
governmental entities in the Cayman Islands own shares of the Company. In addition, as described above, both of the shareholders of the
Company&rsquo;s VIE are natural persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The Company respectfully submits that it did not rely upon any legal
opinions or third party certifications such as affidavits as the basis for its submission and its disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.4pt"></TD><TD STYLE="width: 32.05pt"><I>2.</I></TD><TD><I>In order to clarify the scope of your review, please supplementally describe the steps you have taken to confirm that none of the
members of your board or the boards of your consolidated foreign operating entities are officials of the Chinese Communist Party. For
instance, please tell us how the board members&rsquo; current or prior memberships on, or affiliations with, committees of the Chinese
Communist Party factored into your determination. In addition, please tell us whether you have relied upon third party certifications
such as affidavits as the basis for your disclosure.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Page 4</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company respectfully submits that it reviewed the information submitted
by its directors in response to the Company&rsquo;s annual director and officer questionnaire (&ldquo;D&amp;O Questionnaire&rdquo;), which
includes information regarding such directors&rsquo; outside affiliations. Additionally, representatives of the Company contacted each
member of the board individually to fill in a supplemental D&amp;O Questionnaire and confirm that they are not officials of the Chinese
Communist Party or current or prior members of or affiliated with any committees of the Chinese Communist Party. With respect to the members
of the boards of the Company&rsquo;s consolidated foreign operating entities, including the consolidated VIE, representatives of the Company
reached out to each such person individually to confirm that they are not officials of the Chinese Communist Party or current or prior
members of or affiliated with any committees of the Chinese Communist Party. The Company respectfully submits that it did not rely upon
any third party certifications such as affidavits as the basis for its disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.4pt"></TD><TD STYLE="width: 32.05pt"><I>3.</I></TD><TD><I>We note that your disclosures pursuant to Items 16I(b)(2), (b)(3), and (b)(5) are provided for &ldquo;Baozun Inc., our VIE, or
the subsidiaries of our VIE.&rdquo; We also note that Exhibit 8.1 appears to indicate that you have subsidiaries in Hong Kong and countries
outside China that are not included in your VIE. Please note that Item 16I(b) requires that you provide disclosures for yourself and your
consolidated foreign operating entities.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 6.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>With respect to (b)(2), please supplementally
clarify the jurisdictions in which your consolidated foreign operating entities are organized or incorporated and provide the percentage
of your shares or the shares of your consolidated operating entities owned by governmental entities in each foreign jurisdiction in which
you have consolidated operating entities in your supplemental response.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">With respect to the required submission under paragraph
(b)(2) of Item 16I, the Company respectfully submits that the jurisdictions in which the Company&rsquo;s material consolidated foreign
operating entities are incorporated include the Cayman Islands, Hong Kong, and the PRC. Except for Baotong Inc., Baotong Hong Kong Holding
Limited, Baotong E-Logistics Technology (Suzhou) Limited, and the VIE, the Company holds 100% equity interests in such consolidated foreign
operating entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><I><U>Baotong Inc., Baotong Hong Kong Holding Limited and
Baotong E-Logistics Technology (Suzhou) Limited</U></I>. Baotong Inc. is organized in the Cayman Islands and as of the date of the Annual
Report, was 70% owned by the Company and 30% owned by Cainiao Smart Logistics Investment Limited, which is beneficially wholly owned by
Alibaba Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Page 5</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">Baotong Inc. holds 100% of the equity interest of Baotong
Hong Kong Holding Limited (incorporated in Hong Kong), which further holds 100% of the equity interest of Baotong E-Logistics Technology
(Suzhou) Limited (incorporated in the PRC).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><I><U>The VIE</U></I>. As disclosed in the Annual Report,
the VIE is 80% owned by Mr. Vincent Wenbin Qiu, and 20% owned by Mr. Michael Qingyu Zhang, both of whom are natural persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"><FONT STYLE="font-size: 10pt">Therefore, to the best
of the Company&rsquo;s knowledge and based on the analysis in the response to Comment 1, no governmental entities in the Cayman
Islands, Hong Kong, or the PRC own shares of the Company&rsquo;s material consolidated foreign operating entities. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 6.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>With respect to (b)(3) and (b)(5), please
provide the required information for you and all of your consolidated foreign operating entities in your supplemental response.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">With respect to the required submission under paragraphs
(b)(3) of Item 16I, the Company confirms that, based on the analysis in the previous paragraph, the governmental entities in the PRC do
not have a controlling financial interest in the Company&rsquo;s material consolidated foreign operating entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">With respect to the required submission under paragraphs
(b)(5) of Item 16I, the Company confirms that neither the Sixth Amended and Restated Memorandum and Articles of Association of the Company,
nor the articles of incorporation or equivalent organizational documents of any of the Company&rsquo;s consolidated foreign operating
entities, including the consolidated VIE, contains any charter of the Chinese Communist Party, including the text of any such charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.4pt"></TD><TD STYLE="width: 32.05pt"><I>4.</I></TD><TD><I>With respect to your disclosure pursuant to Item 16I(b)(5), we note that you have included language that such disclosure is &ldquo;to
our knowledge.&rdquo; Please supplementally confirm without qualification, if true, that your articles and the articles of your consolidated
foreign operating entities do not contain wording from any charter of the Chinese Communist Party.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">The Company confirms that neither the Sixth Amended and
Restated Memorandum and Articles of Association of the Company, nor the articles of incorporation or equivalent organizational documents
of any of the Company&rsquo;s consolidated foreign operating entities, including the consolidated VIE, contains any charter of the Chinese
Communist Party, including the text of any such charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tm2324036d1_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Page 6</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*****</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you for your consideration in reviewing the above responses.
Please contact Meng Ding of Sidley Austin at (852) 2509 7858 with any questions or further comments regarding the responses to the Staff&rsquo;s
comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif">Sincerely,</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Meng Ding</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Meng Ding</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif">cc:</TD>
    <TD STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; text-align: left">Vincent Wenbin Qiu, Chief Executive Officer of the Company</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 21pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Arthur Yu, Chief Financial Officer of the Company</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 21pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Bin Luo, General Counsel of the Company</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21pt">&nbsp;</P>

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