UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2023

Commission file number: 001-39477

GLOBAL BLUE GROUP HOLDING AG

(Translation of registrant’s name into English)


Zürichstrasse 38, 8306 Brüttisellen, Switzerland
+41 22 363 77 40
(Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒
Form 40-F






INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On August 10, 2023, Global Blue Group Holding AG (the "Company") issued a press release, attached as exhibit 99.1 to this Form 6-K, providing information regarding the continued overall dynamic recovery of Tax Free Shopping in Continental Europe, and Asia Pacific.





INCORPORATION BY REFERENCE

This report on Form 6-K and the exhibits hereto shall be deemed to be incorporated by reference into the registration statements on Form F-3 (Nos. 333-259200, and 333-267850) and Form S-8 (No. 333-260108) of the Company and the prospectuses incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.





EXHIBIT INDEX









SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
                    
         
Date: August 10, 2023


GLOBAL BLUE GROUP HOLDING AG
             
By:         /s/ Jacques Stern
Name:         Jacques Stern
Title:         Chief Executive Officer

1 GLOBAL BLUE RELEASES THE MONTHLY TAX FREE SHOPPING BUSINESS UPDATE FOR JULY 2023 Signy, Switzerland, August 10, 2023 Fresh data from Global Blue reveals that the overall global dynamic recovery for Tax Free Shopping has remained stable in Continental Europe, with a strong acceleration in Asia Pacific. Globally, issued Sales in Store like-for-like recovery reached 121%1 in July versus 118%1 in Q2 2023. A stable recovery in Continental Europe In Continental Europe, the recovery remains stable, reaching 118%1 in July vs. 121%1 in Q2 2023. Excluding Mainland Chinese and Russian shoppers, the recovery would have reached 156%1 in July. In terms of origin markets, both US and GCC residents have remained at high levels, with US shopper recovery reaching 257%1 in July vs. 270%1 in Q2 2023, and Gulf Cooperation Council shopper recovery reaching 221%1 in July vs. 224%1 in Q2 2023. Regarding destination markets, July witnessed a stable recovery across most destinations, with Greece at 182%1, France at 136%1, Spain at 127%1, Italy at 122%1, and Switzerland at 121%1. Significant improvement in Asia Pacific recovery In Asia Pacific, the recovery rate continues to experience a rapid increase, reaching 134%1 in July vs. 111%1 in Q2 2023. When excluding Mainland Chinese shoppers (who represented 55% of the Sales in Store in the region in 2019), the recovery would have reached 176%1 in July. Regarding origin markets, Mainland Chinese shoppers, along with Hong Kong and Taiwan residents, continue to play a key role in driving the accelerating recovery in Asia Pacific. Mainland Chinese shoppers have reached 2019 levels for the first-time at 100%1 in July vs. 60%1 in Q2 2023. Recovery levels among Hong Kong and Taiwan residents have also remained strong, reaching 393%1 in July vs. 395%1 in Q2 2023. Following closely are North East Asia residents, with a recovery rate of 191%1 in July vs. 150%1 in Q2 2023.

 
2 When examining destination markets, Japan continues to take the lead with a Sales in Store like-for-like recovery propelling to 170%1 in July, followed by South Korea at 124%1. A gradual recovery for Mainland Chinese shoppers The ongoing progressive air capacity recovery has played a pivotal role in driving a consistent enhancement in Sales in Store like-for-like recovery for Mainland Chinese shoppers. It reached 65%1 worldwide in July vs. 54%1 in Q2 2023. In terms of air capacity recovery rates, July witnessed the same levels in Continental Europe (51%2) and in Asia Pacific (51%2). The Sales in Store like-for-like recovery is stronger in Asia Pacific (100%1) than in Continental Europe (40%1), where visa issuance and travel costs remain key barriers to a stronger recovery. Notably, Asia Pacific has witnessed a higher average spend progression per shopper (119%3) compared to Continental Europe (34%3). APPENDIX YTD Data Issued SIS L/L recovery1 (in % of 2019) July 2023 June 2023 May 2023 April 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Continental Europe 118% 130% 121% 110% 109% 104% 101% 75% 53% Asia Pacific 134% 125% 110% 99% 87% 80% 51% 39% 16% TOTAL 121% 128% 118% 106% 101% 97% 89% 65% 40% Glossary - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - South East Asia includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore - North East Asia includes: Japan, South Korea 1 Recovery rate is equal to 2023 Issued Sales in Store divided by 2019 Issued Sales in Store, like-for-like (i.e.: at constant merchant scope and exchange rates). 2 Air capacity: ForwardKeys data platform – July 2023 3 Mainland Chinese shoppers increase of average spend per international shopper versus 2019

 
3 MEDIA CONTACTS Virginie Alem – SVP Marketing & Communications Mail: valem@globalblue.com INVESTOR RELATIONS CONTACTS Frances Gibbons – Head of Investor Relations Mob: +44 (0)7815 034 212 Mail: fgibbons@globalblue.com ABOUT GLOBAL BLUE Globa l Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments par tner, empowering retai lers to improve their per formance and shoppers to enhance their experience. Globa l Blue offers innovative solution s in three different fie lds: • Tax Free Shopping: Helping retai lers at over 300,000 points of sale to e ffic ient ly manage 35 mil l i on Tax Free Shopping transactions a year, thanks to i ts fu l ly in tegrated in -house technology plat form. Meanwhi le , i ts industry -leading digi tal Tax Free shopper so lutions create a better , more seamless customer experience . • Payment services: Providing a ful l suite of foreign exchange and Payment technology solutions that a l low acquirers, hote ls, and retai lers to offer value -added services and improve the cus tomer experience during 31 mi l l ion payment transactions a year at 130,000 points of interaction . • Complementary Reta ilTech: Offer ing new technology so lutions to retai lers, including digi tal receipts and eCommerce returns , that can be eas i ly integrated with their core systems and al low them to optimize and digita l ize their processes throughout the omni -channe l customer journey, both in -store and online. In addi t ion, our data and advisory serv ices offer a strategic advisory to help retai lers identify opportunit ies for growth, whi le our shopper exper ience and engagement solut ions provide data -dr i ven solutions to increase footfal l, convert footfa ll to revenue and enhance performance. For more in formation, vis i t https://www.globalblue.com/about -us/media Global Blue Monthly Speaker Notes Data, July 2023, Source: Global Blue

 
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