Zibuyu Reports H1 Revenue of RMB 2.827 Billion, TikTok Revenue Soars 662% to RMB 289 Million

[Ebrun Original] Cross-border apparel company Zibuyu recently released its 2026 interim results. According to the report, Zibuyu generated approximately RMB 2.827 billion in revenue in the first half of this year, representing a year-on-year increase of 44.2%. In terms of profitability, the company's gross profit for H1 reached around RMB 2.091 billion, up 41.9% year-on-year. Its gross margin stood at 74.0%, a 1.2 percentage point decrease from the same period last year. The company attributed the margin decline to phased adjustments to product markup ratios, implemented to adapt to market conditions and expand sales share.

By channel, Zibuyu recorded RMB 2.722 billion in revenue from third-party e-commerce platforms in H1, a 41.9% year-on-year rise. Amazon remained the company's largest sales channel, contributing RMB 2.353 billion in revenue, up 29.6% year-on-year. However, as other channels scaled up simultaneously, Amazon's share of total revenue fell to 83.2% from approximately 92.6% in the year-ago period.

The fastest growth came from TikTok. During the reporting period, Zibuyu's revenue from the TikTok channel hit RMB 289 million, surging 662.1% year-on-year, with its revenue share rising to 10.2% from about 2% in the same period last year. The company stated that this business has now moved from the investment phase to a "scaled profitability stage".

To expand its TikTok business, Zibuyu's various brand divisions built content e-commerce teams in the first half of the year to carry out influencer and marketplace operations, and leveraged AIGC for mass content production. The interim report shows that the company produced more than 50,000 original videos in H1, and has now established a sales structure combining influencers, product listings and original videos.

Beyond Amazon and TikTok, Zibuyu's revenue from Temu in H1 was approximately RMB 17.33 million, down about 65.6% from RMB 50.44 million in the same period last year; revenue from other third-party e-commerce platforms reached around RMB 62.45 million, a more than 4-fold year-on-year increase; revenue from self-operated websites was approximately RMB 45.59 million, up 28.4% year-on-year.

The financial report noted that in the first half of this year, the combined revenue share of Zibuyu's channels other than Amazon rose to 16.8% from 7.4% in the same period in 2025. However, Amazon still accounts for over 80% of total revenue, and the current diversification of channel revenue is mainly driven by the rapid growth of TikTok.

Brand building is another adjustment Zibuyu has been continuously advancing over the past two years.

Currently, Zibuyu has formed a brand matrix consisting of 10 core brands, covering niche categories such as professional women's wear, casual women's wear, active women's wear, women's shoes, men's wear, children's wear and dresses. In the first half of this year, the combined revenue of the 10 core brands accounted for 65% of the company's total revenue, compared with 54% for the full year of 2025.

Among them, casual women's wear brand TANKANEO generated approximately RMB 350 million in H1 revenue; women's shoe brand COUTGO recorded around RMB 260 million; active women's wear brand FISOEW brought in about RMB 250 million; professional women's wear brand CICYBELL contributed approximately RMB 230 million; and sweater brand SAODIMALLSU had revenue of around RMB 220 million. In addition, the company's high-end positioned brand Rich Radi Q’s posted approximately RMB 70 million in H1 revenue.

Zibuyu said it is currently strengthening off-site brand marketing through channels such as Instagram, official TikTok accounts, overseas influencers and user communities. As of the first half of this year, the official overseas social media accounts of the company's core brands have accumulated more than 600,000 followers.

Geographically, North America still holds an absolute dominant position. In the first half of 2026, Zibuyu's revenue from the North American market reached approximately RMB 2.708 billion, up 40.6% year-on-year, accounting for about 95.8% of total revenue; revenue from the Asian market was around RMB 71.57 million, and revenue from the European market was approximately RMB 33.52 million. The company also noted in its interim report that the target markets for Amazon, TikTok and the platforms it is currently expanding into are still primarily concentrated in North America.

On the supply chain side, Zibuyu is continuing to increase the share of overseas production. The company has now established an overseas production network with Vietnam and Myanmar as core production bases, supplemented by Cambodia and Turkey. In the first half of this year, the share of the company's overseas production capacity exceeded 10% for the first time, and it is currently conducting research on new production regions such as Indonesia and Bangladesh. The company said that Myanmar's production capacity mainly serves to reduce production costs, while Vietnam improves delivery stability thanks to its relatively mature e-commerce supporting facilities.

AI is also a key operational change highlighted in Zibuyu's this interim report. In the first half of the year, the company applied AI to links including product design, marketing operations, merchandise management and supply chain, and launched its self-developed AIGC video factory in the second quarter for large-scale short video generation. It also rolled out tools such as AI advertising diagnosis, automated pricing, intelligent order review and intelligent order tracking. During the reporting period, Zibuyu's overall per capita efficiency increased by 35% year-on-year.

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This article was first published on the official website of Ebrun.