Global Blue Acquires ZigZag Global, a Leading E-commerce Returns Platform
- ZigZag is a leading Software-as-a-Service (SaaS) technology platform that enhances the e-commerce returns experience for consumers and streamlines the returns process for retailers across the globe
- ZigZag is a fast-growing company and an emerging leader serving the dynamic and expanding worldwide e-commerce market
- With ZigZag, Global Blue extends its product set, complementing its Tax-Free Shopping and Added Value Payment Services propositions and advancing its mission to become a strategic omni-channel technology and payment partner for merchants
- Global Blue, listed on the New York Stock Exchange (Ticker: GB), has raised $70 million via a private placement of common stock issued to new institutional investors to fully fund the ZigZag acquisition
EYSINS, Switzerland–(BUSINESS WIRE)– Global Blue today announced the acquisition of ZigZag, a leading Software-as-a-Service (SaaS) technology platform that helps retailers manage worldwide e-commerce returns and exchanges more profitably, and consumers to enjoy a smoother and enhanced return experience.
ZigZag enables merchants to optimise their e-commerce growth
E-commerce returns are a big problem for retailers with more than 40% of orders on average being returned.
ZigZag’s technology platform addresses this issue by digitalising the e-commerce returns process and improving the returns experience for both consumers and retailers.
It replaces outdated paper-based “label in the box” solutions with a best in class online returns portal that offers a greater range of shipping options including post office, parcel shops, lockers and collection from home, as well as exchange alternatives.
In parallel, it optimises retailers’ profitability by reducing logistical costs via consolidation, local market resale, and inbound consumer queries, as well as by allowing exchanges versus simply return of goods.
With e-commerce expanding rapidly and further accelerating during the COVID-19 pandemic, an efficient returns platform is key to both mass and luxury retailers, who are experiencing accelerating growth in their online sales and operations.
ZigZag’s platform integrates with over 30 leading merchant e-commerce software platforms, enabling retailers to access ZigZag’s reverse logistics network comprising 450+ carrier services and 220 warehouses in 130 countries.
As of December 2020, Zigzag’s technology powered approximately 100 global ecommerce retailers and recorded dramatic growth of more than 500% of its processed returns in 2020 versus 2019.
Global Blue and ZigZag combination creates complementary benefits
With both companies operating in the retail ecosystem, Global Blue and ZigZag will join forces to empower merchants to capture growth opportunities through omni-channel technology and payment solutions.
With e-commerce business booming and becoming even more crucial for luxury brands, Global Blue will benefit from ZigZag’s e-commerce expertise, extending its relationships with its existing and future clients.
In parallel, ZigZag will enhance its rapid growth by cross-selling its solutions into Global Blue’s extensive merchant network and by enhancing its value proposition through integration of Global Blue’s payments and data capabilities.
$70 million of equity capital raised to fund the acquisition
Global Blue, listed on the New York Stock Exchange (Ticker: GB), has raised $70 million via a private placement of common stock issued to new institutional investors to fully fund ZigZag acquisition. Deutsche Bank Securities Inc. is acting as equity private placement agent.
Jacques Stern, CEO and President of Global Blue commented:
“With this first acquisition since our listing on the New York Stock Exchange in August 2020, Global Blue has the ambition to become a strategic omni-channel technology and payments partner empowering merchants to capture growth opportunities.
ZigZag is an exciting, fast-growing, emerging leader in e-commerce, specialised in the management of e-commerce returns. The synergies between the two companies are strong and will help both of us to grow faster.”
Al Gerrie, CEO and Founder of ZigZag added:
“As a market leader focused on technological innovation for merchants and consumers, Global Blue is an ideal fit for ZigZag. We are confident that our partnership and our ambitious joint investment plan will accelerate our growth even further.”
The transaction is expected to close by the end of March 2021.
ABOUT GLOBAL BLUE
Global Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, it has become the leading strategic technology and payments partner, empowering merchants to capture the growth of international shoppers.
The Group connects all stakeholders involved in the international shopping ecosystem, helping:
- More than 29 million international shoppers receive a seamless and personalised shopping experience, enabling them to claim back the VAT on their eligible purchases when they shop abroad and to pay in their home currency at a guaranteed best rate,
- More than 300,000 points of sale, including leading department stores and luxury brands, identify growth opportunities through smart data and intelligence solutions, increase footfall through data-driven marketing solutions and convert traffic into merchant revenue through innovative in-store technologies,
- More than 50 acquirers, at around 130,000 points of interaction, benefit from additional revenue streams and offer merchants and travellers Dynamic Currency Conversion options and other Added-Value Payment Solutions,
- Customs & authorities in more than 40 countries increase country attractiveness and ensure a secure and compliant Tax Free Shopping scheme.
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 over 2,000 employees in more than 50 countries.
For more information, visit http://www.globalblue.com/corporate/
ABOUT ZIGZAG GLOBAL
ZigZag Global is a software solution to help ecommerce retailers manage returns domestically and globally.
The ZigZag platform connects major retailers to a global network of over 220 warehouses to over 450+ carrier services in over 130 countries. ZigZag’s clients include boohoo group, Selfridges, GAP, Superdry, DHL, The Hut Group and many more.
ZigZag delivers best in class technology and service to transform the returns experience globally. ZigZag’s mission is to reduce the cost, waste and friction associated with returns, boost customer loyalty and make retailers more profitable and sustainable.
ZigZag was the winner of the Best eCommerce Technology Innovation and Best Product at eCommerce Expo 2020, Innovation in Delivery and Logistics Award at the eCommerce Awards 2019, won the KPMG Best British Tech Startup 2019 (London round), was a finalist at The Circulars at the World Economic Forum 2019 in Davos, is listed in the Retail Tech Top 50, The StartUps Top 100, Disrupt 100. ZigZag won the 2018 Shop.org Disruption and Innovation Award, 2018 World Post and Parcel Awards for Ecommerce and Innovation, 2018 Postal Pitch in Washington, 2018 Millennial 20:20 Ecommerce Enabler, 2017 ShopTalk Startup award along with a 25,000 Euro prize. It also won the 2017 Sustainability Award in Milan, 2017 Innovation Award at IRX, StartUps 100 Winner 2017. 2016 Global award at the World Retail Congress in Dubai for innovation, Mark of Excellence – Disruptor of the Year 2016 – Supply Chain Awards, Winner at London Technology Week – GetInTheRing.
ZigZag is also proud to be a member of the Ellen MacArthur Foundation.
ZigZag is a British Company, headquartered in London.
For more information, visit http://www.zigzag.global
View source version on businesswire.com: https://www.businesswire.com/news/home/20210308005430/en/
Contacts
MEDIA CONTACTS
Domitille Pinta – VP Group Communication
Mob: 00 33 6 11 07 52 90 – Mail: dpinta@globalblue.com
Contact Laura Hare – laura.hare@zigzag.global for media enquiries