Global Blue Acquires ZigZag Global, a Leading E-commerce Returns Platform
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It replaces outdated paper-based “label in the box” solutions with a best in class online returns portal that offers a greater range of shipping options including post office,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
Domitille Pinta – VP Group Communication
Mob: 00 33 6 11 07 52 90 – Mail: email@example.com
Contact Laura Hare – firstname.lastname@example.org for media enquiries
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hiab and FSP enter into agreement on the transfer of surface treatment functions in Poland23.4.2021 11:01:00 CEST | Press release
Hiab, part of Cargotec, and FSP Finnish Steel Painting Ltd have reached an agreement about the surface treatment operations in Hiab’s Stargard multi-assembly unit in Poland as of April 2021. Following the partnership FSP will provide Hiab Poland the surface treatment services and the expertise in development techniques. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005017/en/ Hiab, part of Cargotec, and FSP Finnish Steel Painting Ltd have reached an agreement about the surface treatment operations in Hiab’s Stargard multi-assembly unit in Poland. (Photo: Business Wire) The surface treatment operation in Hiab’s Stargard multi-assembly unit and its associated professionals will transfer to FSP under their current employment conditions. The purpose of the agreement is to intensify the cooperation between Hiab and FSP so that the parties can focus on their own core competencies and improve business development. For severa
JAB Welcomes Lubomira Rochet as Partner23.4.2021 09:30:00 CEST | Press release
JAB is pleased to welcome Lubomira Rochet to the JAB Partnership, effective June 1, 2021. Based in London, Ms. Rochet is a recognized digital leader and business transformer with extensive global experience across multiple industries. She joins JAB following seven years at L'Oréal, where she served as Chief Digital Officer and a member of the Executive Committee. While at L’Oreal, Ms. Rochet successfully led the beauty giant’s marketing and commercial pivot to a digital-first company, scaling E-commerce to 27% of the Group’s revenue with more than 45% average yearly growth during her tenure and accelerating Direct-to-Consumer engagement and reinventing marketing in the digital age. She was recognized as the 2019 Global Marketer of the Year by the World Federation of Advertisers. Ms. Rochet will build on her successful track record of large-scale global business transformations to drive growth and digital leadership in JAB’s portfolio companies. Ms. Rochet will join the Boards of severa
XPRIZE and Musk Foundation Announce Guidelines and Open Registration for $100M XPRIZE Carbon Removal23.4.2021 01:23:00 CEST | Press release
XPRIZE, the global leader in designing and implementing innovative competition models to solve the world’s grand challenges, today announced the official launch of $100 Million XPRIZE Carbon Removal with the opening of team registration and the release of the competition guidelines. The announcement comes shortly after Peter H. Diamandis,XPRIZE founder and executive chairman, and Elon Musk sat down for a live stream hosted on Twitter to discuss the importance of spurring carbon removal solutions, the climate crisis, and the launch of the largest incentive prize in history. The conversation was followed by a virtual question and answer hosted by Marcius Extavour, vice president of climate and environment at XPRIZE, and XPRIZE’s chief impact officer, Zenia Tata. Funded by the Musk Foundation, $100M XPRIZE Carbon Removal is aimed at tackling climate change by asking global innovators to develop solutions that can pull carbon dioxide directly from the atmosphere or oceans and lock it away
Verimatrix To Participate in SportsPro Live Virtual Panel: How To Transform Physical Spaces into Digital Ecosystems22.4.2021 17:45:00 CEST | Press release
Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Lu Bolden, Chief Revenue Officer, is slated to participate in a SportsPro Live virtual panel discussion from 9:10 to 9:55 a.m. Central Time on Thursday, April 29. The event, which unites sports and technology professionals from across the globe, aims to prepare the industries for the future of sport. Bolden’s panel is slated to take place in the South Stand and discuss how technology can connect the in-venue experience to create more revenue opportunities. The group, moderated by Mike Bohndiek, CEO of PTI Digital Group, will also discuss what strategies and technologies can best deliver the new digital experiences. Other speakers on the panel include: Michael Cole, Chief Technology Officer, PGA European Tour and Ryder Cup Europe Adam Heintz, Senior Vice President, Business Intelligence, Monumental Sports & Entertainment “T
Rajeev Bhalla Named Director of Board at Next Level Aviation22.4.2021 17:39:00 CEST | Press release
Seasoned senior finance executive Rajeev Bhalla has been named a Director of the Board at Next Level Aviation, a leader in the aerospace used serviceable materials (USM) market. He brings wide-ranging financial, operational, and strategic expertise to the company as it plans substantial growth in the coming years, both organically and through acquisition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005834/en/ Rajeev Bhalla has been named Director of the Board of Next Level Aviation. He will help guide the company’s planned growth in the coming years, both organically and through acquisition. (Photo: Business Wire) Bhalla’s background includes demonstrated discipline and expertise in finance, governance, and team development. This comes through current work as a Cerberus Operating Partner, board of director roles as well as experience in a number of successful companies. Notably, those include: Circor International,
Medical Aesthetic Products’ Manufacturer Croma-Pharma Launches “Croma is More” E-Learning Series for Health Care Professionals22.4.2021 17:00:00 CEST | Press release
Croma-Pharma GmbH (Croma) always strives to support physicians in their work in the best possible way. For this reason, the company has developed an interactive e-learning platform with continuing education offerings for physicians working in the field of minimally invasive aesthetic. In this way, Croma aims to help health care professionals achieve sustainable growth and success in their medical clinics/practices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005727/en/ Social Media Training for Health Care Professionals Copyright: Croma-Pharma GmbH (Graphic: Business Wire) Medical professionals can choose from a broad variety of different formats: Social Media & Online Marketing Facial Anatomy Workshops Aesthetic Startup Academy Aesthetic Excellence A variety of topics is presented by Industry experts. All the content comes with lifetime access hence the health care professionals can learn on their own schedule and
PerkinElmer Supports PROXIDRUGS Consortium Aimed at Advancing Targeted Protein Degradation/PROTAC Drugs22.4.2021 16:44:00 CEST | Press release
PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced that it is serving as a provider and co-developer of assays, instrument solutions and expertise for the PROXIDRUGS Consortium which is zeroing in on research for proximity drugs or PROTACs (PROteolysis Targeting Chimeras). PROTACs are a new class of drugs that take advantage of the body’s own cell protein recycling system to fight disease by tapping into the 80% of disease-relevant proteins that are currently untargeted by today’s available therapeutics. Led by Goethe University in Frankfurt, Germany, the Consortium includes researchers from the Technical University of Darmstadt, the Fraunhofer Institute for Translational Medicine and Pharmacology, and global pharmaceutical companies based in Frankfurt’s Rhine-Main region. The research project, starting October 2021, aims to streamline novel drug target validation by putting disease-relevant proteins in close proximity with key enzymes (su
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom