Thomas Chong: Okay. Thank you.
Operator: Thank you. We will take our next question. Our next question comes from the line of Wang Zhihao from CICC. Please go ahead. Your line is open.
Wang Zhihao: Hi. Good evening management. Thank you for taking my question. We noticed that the number of brand partners for store operations increased. As the macro environment is weak, could you please share something about customer acquisition strategy used in this quarter? And could you please share some details from the new brand partners such as the industry, scale and the main channels we help them to operate? Thank you.
Vincent Qiu: Okay. Thank you. Tracy, would you like to take on? And then I can maybe add on more color after you.
Tracy Li: Sure. Thanks for the question. For the last quarter, actually, most of our new wins focusing on our new revenue source, which is the IT client and also digital marketing clients. And you can see actually, they are combined with our emerging category like our CUC category and also the luxury category. So, which indicates actually our strategy on the one-stop solution, which means we come €“ actually, we start from the operation, but we extended our service to other part strategy works. And you can see actually in this market, we can see some of our clients actually invest a lot in the long-term strategy, including the interactive marketing and also data and also infrastructure setup. Yes. Arthur, do you have any other entry question €“ answer for this?
Arthur Yu: No, I think another thing I would like to add is in terms of the value-added service, we are utilizing the omni-channel and also utilizing the foundation we have built over the time, we think that will be also the new business coming in the next few quarters. That’s it.
Wang Zhihao: Thank you.
Arthur Yu: Thank you.
Operator: The next question comes from the line of from Guangfa Securities. Please go ahead. Your line is open.
Unidentified Analyst: Hello management team. So, I have two questions. The first one is about the luxury revenue has reached past growth during the past quarter. So, could you please elaborate over on the future strategies for expanding the luxury category? Also do you have a certain benchmark percentage of luxury categories contributed to the revenue? My second question is, do you have the investment strategy for the 2023? Thank you.
Arthur Yu: Okay. Let me answer your second question first. And then Tracy can cover the luxury question. Yes. In terms of the investment strategy, as you have seen, we recently made the announcement of acquiring Greater China’s business. So, in the short-term, our focus will be building the Gap China business and building the Baozun brand management type a new business unit. So, we will focus our efforts on integration and also transition to make sure it is a success. And in terms of the investment, our focus will, in the short-term be, the brand-related investments will be our focus. So I mentioned in the last few quarters, Baozun has made investments either the minority investments or the controlling investment into six brands.
And we have made some good progress in terms of those brands, which in Double 11, the GMV from those fixed rents, adding together has grown over 200% year-over-year, which shows the enhancement of Baozun adding value to those brands. And also forecast the Double 11 performance has also been good. The GMV has grown 22% year-over-year for the Gap doing Double 11, which outperforms the market. All of this shows was Baozun enhancement, we will be able to add more value to those brands growth kind of story. At the same time, when we are looking at the investment, we are also proactively optimizing our investment portfolio. As mentioned earlier, the Baobida, which is the last mile delivery investments we made, we actually practically introduced another strategic investor to take the controlling stake and make auto become a minority stake.
This is because this investment is a little bit duplicate to our strategic alliance to await Cainiao. So, with that in mind we actually optimized our investment portfolio to turn our self from a majority to turn our self from a majority shareholder into a minority shareholder. Looking at the medium to longer term, I think our investment priorities are focused on the international expansion and also building technology capability on top of the brand management. And with the current market condition, we actually keep an open eye on the good value assets as we did for the Gap China acquisition, okay. So, that’s on the investment strategy. So, Tracy, maybe you had something on the luxury business. Yes. Tracy, can you hear me?
