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GLOBAL BLUE GROUP HOLDING AG

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Global Blue : 23 Sept 2020 - Global Blue and Ant Group expand their partnership to jointly develop digital Tax Refund solutions for Chinese international shoppers and global retailers

09/23/2020 | 06:15am EDT

With Global Blue's successful listing on the New York Stock Exchange on August 31, and after years of close collaboration, Global Blue, leading Tax Free Shopping provider and Ant Group, the parent company of Alipay, China's largest digital payment plaform, have deepened their partnership to offer both Chinese international shoppers and global retailers an enhanced shopping and payment experience.

As part of this strategic partnership, the companies will jointly develop digital Tax Free Shopping solutions and products that will bring a seamless mobile experience to Alipay users and the retailers serving them.

Global Blue and Ant Group will also jointly develop comprehensive marketing solutions by leveraging Alipay's marketing platform to enable brands to capture the full potential of Chinese shoppers when they travel overseas. Thanks to innovative and measurable drive-to-store campaigns, retailers will benefit from increased footfall with more Chinese tourists in their stores.

The partnership will also draw synergy from the Alibaba ecosystem, including Fliggy, a leading online travel platform in China, and several other leading Asian digital wallets that Ant Group partners with. This will allow a richer offer of digital services to a broader consumer base, further increasing the positive impact of this partnership for retailers working with Global Blue.

In parallel, with Global Blue's successful listing, Ant Group has also made a significant investment in Global Blue, becoming one of its main shareholders with 6.5% of its shares and having a seat on Global Blue's Board of Directors.

Jacques Stern, Global Blue's CEO, comments: 'We are very pleased to strengthen our relationship with Alipay with the signature of this strategic partnership. Our common aim is to improve Chinese international shoppers' journey when they shop abroad and to enable brands capture the full potential of Chinese travellers. We truly believe this alliance will benefit both shoppers and retailers when international shopping resumes.'

Angel Zhao, President of Ant Group's International Business Group, adds: 'Global Blue is an important partner for Ant Group as we continue to connect more consumers with merchants globally. Alipay and our global e-wallet partners' user bases, along with Global Blue's extensive merchant and airport footprint across more than 50 countries, create significant potential to expand the relationship and introduce new solutions and services to the marketplace.'

MEDIA CONTACT

Domitille Pinta - VP Group Communication
Mob: 00 33 6 11 07 52 90 - Mail: dpinta@globalblue.com

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.

Download here the PDF of the Press Release.

Disclaimer

Global Blue Group Holding Ltd. published this content on 23 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 10:14:03 UTC


© Publicnow 2020
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Financials
Sales 2020 420 M 499 M 499 M
Net income 2020 -3,53 M -4,19 M -4,19 M
Net Debt 2020 446 M 529 M 529 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 1 940 M 2 301 M 2 301 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 2 050
Free-Float 45,1%
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Managers and Directors
NameTitle
Jacques Stern President, CEO & Non-Executive Director
Loïc Jenouvrier Chief Financial Officer
Thomas W. Farley Chairman
Fabio Ferreira Chief Information Officer
Jeremy Taylor Senior Vice President-Operations
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