Global Blue Launches Global Blue Ventures to Support Its Omnichannel Market Expansion Ambition
April 21 2021 - 6:31AM
Business Wire
- Global Blue Ventures supports Global Blue’s position as the
strategic omnichannel technology and payments partner empowering
merchants to improve their performance
- Global Blue Ventures focuses on investment and/or
partnership with third parties that offer best-in-class RetailTech
innovations, enabling Global Blue to expand its product offering
and bring more value to its retail clients
- Thanks to Global Blue Ventures, Global Blue has already
partnered with a number of leading and fast-growing RetailTech
companies, including global returns provider, ZigZag Global, and
digital receipt provider, Yocuda
Global Blue, today, announced the launch of Global Blue
Ventures, a new entity created to identify, invest in and/or
partner with third parties that offer market-leading retail
technology solutions.
Global Blue Ventures was initiated in 2019, and officially
launched in April 2021, to advance Global Blue’s ambition to be a
strategic omnichannel technology and payments partner empowering
merchants to improve their performance.
Extending Global Blue’s value proposal with innovative
omnichannel solutions
Global Blue Ventures concentrates on innovative and promising
new businesses, with best-in-class companies selected to support
brands on their omnichannel path.
The Ventures program will focus on add-on technologies that can
easily integrate with retailers’ core systems, allowing them
to:
- Optimise and digitalise their processes across the entire
omnichannel customer journey: online, in store and at home
- Capture customers’ identity and engage with them on a
personalised one-to-one basis
- Collect and cross-reference data to provide advisory services
and actionable insights
It will focus its efforts on three key verticals and market
needs:
- eCommerce: how to boost conversion rates and improve return
efficiency
- Store digitalisation: how to digitalise in-store processes and
experiences
- Clienteling 2.0: how to engage digitally one-to-one with
consumers
RetailTech market experts James Strabo, previously a founding
member and Managing Director at Blackhawk Network and Managing
Director at Westfield (OneMarket), and Andrew Carroll, Founder of
Yocuda and formerly Director of Corporate Development at Westfield
(OneMarket) will lead Global Blue Ventures. Their mission will be
to pinpoint latest retail market trends, identify the best-in-class
technology players for each vertical, test and collect retailers’
feedback and, where appropriate, drive investments in the retail
technology partners that can further accelerate Global Blue’s
omnichannel market expansion.
Advancing with investment in promising new verticals
Since its inception, Global Blue Ventures has already enabled
Global Blue to join forces with several leading players
including:
- Yocuda: in October 2020, Global Blue acquired a minority
stake in Yocuda, a leading digital receipt provider. Yocuda allows
retailers to send content-rich, personalised digital receipts to
consumers, whilst capturing data that allows for customer insight,
management and engagement. Its technology can also be linked to a
brand loyalty programmes. Yocuda is partnered with leading
companies such as Marks & Spencer and Argos.
- ZigZag Global: in March 2021, Global Blue announced the
acquisition of ZigZag Global, a leading Software-as-a-Service
(SaaS) technology provider. ZigZag replaces the traditional
paper-based “label in the box” returns solution with an online
portal that enhances the experience for consumers and streamlines
the process for retailers across the world. ZigZag is partnered
with leading retailers such as Selfridges and Superdry.
Jacques Stern, CEO of Global Blue: “As a technology and
payment partner for retailers, we are looking at extending our
solutions on the full omnichannel journey, for both domestic and
international shoppers. The network of RetailTech companies that we
have started to create through Global Blue Ventures will enable us
to co-create integrated solutions that achieve this goal and ensure
we continue to meet our clients’ evolving needs.”
James Strabo and Andrew Carroll, Founding Partners of Global
Blue Ventures: “We are very pleased to be joining Global Blue
and look forward to bringing our vision and expertise to help
propel the business further into the RetailTech space. We are
confident that the network of RetailTech partners we will build
will give Global Blue clients access to the best-in-class solutions
and will enable them to stay at the forefront of the latest
omnichannel trends.”
ABOUT GLOBAL BLUE
Global Blue is a long-standing and trusted partner for retailers
across the world. Its omnichannel technology and payments solutions
empower its clients to improve their performance in the following
areas:
- Tax Free Shopping: After pioneering the concept of Tax-Free
Shopping more than 40 years ago, Global Blue’s integrated
technology solutions at 300,000 points of sale offer 13 million
international shoppers a seamless and personalised experience when
claiming back the VAT on goods purchased abroad.
- Added Value Payment Solutions: Global Blue partners with more
than 50 acquirers and Payment Service Providers across the world to
provide retailers and hoteliers with a best-in-class FX solution
that serves 16 million travellers and online shoppers at more than
130,000 points of interaction.
- Ecommerce returns: Global Blue offers, through its ZigZag
Global brand, an enhanced, fully digital returns experience to more
than 12 million domestic shoppers by connecting retailers to a
network of more than 450 carrier services and 220 warehouses in 130
countries.
A unique understanding of shoppers and their shopping history
enables Global Blue to provide Advisory Business Intelligence
services, helping retailers to identify revenue and costs
opportunities, while its Consumer Engagement solutions help
retailers to capture growth opportunities.
In the financial year ending 31 March 2020, Global Blue
processed 35 million Tax Free Shopping transactions with a total
value of €18.5 billion sales in store, and 31 million Added-Value
Payment Solutions transactions with a total value of €4.4 billion
sales in store. Global Blue has almost 1,500 employees and is
present in more than 50 countries.
Global Blue is listed on the New York Stock Exchange under the
ticker GB.
For more information : globalblue.com/corporate
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MEDIA CONTACTS Domitille Pinta – VP Group Communication Mob: 00
33 6 11 07 52 90 – Mail: dpinta@globalblue.com
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