Global Blue Invests in TOSHI, the Innovative Last-Mile Delivery and Services Solution for Luxury Retail
February 22 2022 - 5:56AM
Business Wire
- TOSHI is a fast-growing retail logistics tech company that
meets the demand for retailers to bridge the gap between the online
and in-store luxury experience
- TOSHI’s technology can be activated seamlessly via
e-commerce or in-store platforms, and empowers retailers to provide
an elevated client delivery experience
- Global Blue has invested in TOSHI as part of its ongoing
commitment to expand its omnichannel offering, bringing retailers
the best-in-class new RetailTech solutions that meet their evolving
needs
Today, Global Blue has acquired a minority share in an
innovative and fast-growing new retail logistics tech company,
TOSHI. The investment represents another step forward in the
strategic growth of Global Blue’s omnichannel offering to
retailers.
TOSHI partners with brands to bring the store to the customer
- at home, on-demand
In 2021, online luxury sales grew by 27 percent to €62 billion,
but while this market continues to expand exponentially, luxury
retailers are met with the challenge of matching their online
offering with their exclusive in-store experience.
TOSHI bridges this gap with proprietary SaaS technology that
enables brands to offer a concierge-style service directly to the
customer’s destination of choice. The e-commerce solution
seamlessly integrates into all major platforms and the in-store
interface can be activated via an app or incorporated into the
brand’s existing clienteling software.
Once activated, TOSHI’s intelligent logistics infrastructure can
provide a suite of client delivery options, including same /
nominated day, client-scheduled, 30-60 minute delivery windows, as
well as returns management. A network of highly trained Assistants
can deliver the ‘in-store’ dressing room experience, with services
such as Wait & Try, Try Before You Buy, Size Up / Size Down and
Inspire Me, creating ‘upsell’ opportunities for the brand and
increasing average order value (AOV).
TOSHI uniquely combines logistics capabilities and elevated
customer service to provide opportunities for inventory
optimisation, stronger conversion rates and higher customer
retention. It provides a client delivery experience much more in
line with luxury brand and client expectations, and drives key
performance metrics, increasing AOV and revenue, while reducing
return rates.
TOSHI has partnered with many of the world’s top luxury brands
and it currently operates in the UK and USA, with plans to expand
into Europe (Paris, Milan) and Asia (Hong Kong).
TOSHI joins Global Blue’s network of RetailTech investments
as part of its omnichannel expansion
Global Blue Ventures - the new entity created by Global Blue to
focus on investing in and partnering with third parties that offer
best-in-class RetailTech - advised on the TOSHI deal.
The investment enriches Global Blue’s portfolio of omnichannel
technology solutions that empower luxury retailers to improve their
performance and shoppers to enhance their experience. TOSHI will
join other industry-innovators including Yocuda, a leading digital
receipt provider and ZigZag Global, a new e-commerce returns
service.
Via the partnership, TOSHI and Global Blue will take advantage
of cross-selling opportunities and explore integrations of TOSHI
services with Global Blue’s Tax Free Shopping and e-commerce
returns services.
As part of the deal, Tomas Mostany, SVP Strategy & Chief
Product Officer at Global Blue, will join TOSHI’s executive
board. He commented:
“The rapid expansion of online luxury shopping represents a
strong growth opportunity for retail. However, the disconnect
between the quality of the online and physical experience is a
challenge for high-end brands. TOSHI’s innovative and best-in-class
service offers an ideal solution to this problem. We are very
pleased to welcome TOSHI into our RetailTech network and to bring
its value to Global Blue’s retail partners.”
Sojin Lee, Founder and CEO, TOSHI commented:
“We believe that the luxury last-mile experience that TOSHI
provides is an integral part of the customer journey. We are very
pleased to be working with Global Blue and joining its RetailTech
network. This important strategic partnership means that we can
collaborate with other market-leading innovators and accelerate
TOSHI’s international growth to meet the strong demand for our
services.”
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version on businesswire.com: https://www.businesswire.com/news/home/20220222005654/en/
MEDIA Domitille Pinta – VP Group Communication Mob: 00 33
6 11 07 52 90 – Mail: dpinta@globalblue.com
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