25 Aug 2022 - Global Blue Acquires Stake in Reflaunt, an Innovative New Re-commerce Platform


Eysins, Switzerland
August 25th 2022

  • Global Blue today announces its participation in a Series A funding round for pioneering new Resale Service provider, Reflaunt
  • Reflaunt is a white-label service in which consumers can seamlessly resell their past purchases within a brand’s existing platform, thanks to its unique resale infrastructure
  • Retailers and brands affiliated with Reflaunt can add instant circularity to their ecosystem, while capturing the growth of the fast-growing resale market
  • The investment in Reflaunt extends Global Blue’s post-purchase solutions for retailers, alongside other members of its growing RetailTech network
     

Global Blue has today acquired a minority stake in Resale technology pioneer, Reflaunt, as part of a Series A funding round. The investment represents an advance in Global Blue’s omnichannel expansion into the post-purchase journey.

Reflaunt powers brands’ resale offering via its unique solutions and infrastructure

Reflaunt has developed an industry-leading white label resale service proposition that enables customers to resell their past purchases in a click, without having to leave the brand’s ecosystem.

Inventory from loyal consumers of leading brands is sourced by Reflaunt via the brands’ e-commerce platforms. Reflaunt then manages pricing, quality checking, photography and sale of the inventory on behalf of the brand. Customers are given the choice of brand shopping credits or cash reward in exchange for their pre-loved items.

With a global network of over 30 resale marketplaces 1 that reach more than 100 million second-hand buyers, Reflaunt has the widest distribution network for pre-loved luxury items.

Resale through Reflaunt unlocks loyalty, growth and data for fashion brands

Reflaunt’s proposition offers multiple benefits for luxury brands:

  • New revenue streams – Reflaunt enables brands to easily and efficiently enter the resale marketplace and capture the profitability of this fast-growing market
  • Customer acquisition / retention – 70% of Reflaunt-powered resale transactions transfer into shopping credits, encouraging repeat purchase from existing customers and converting second-hand buyers to first-time customers
  • Stronger brand jurisdiction - By entering the resale marketplace, luxury brands gain access to richer post-purchase data and have more control over their identity and authenticity with second-hand sales
  • Instant circularity – Reflaunt’s technology can be flexibly integrated into a brand’s e-commerce, allowing it to easily and efficiently answer a growing consumer demand for circular fashion
     

Reflaunt joins Global Blue’s RetailTech hub, accelerating its range of disruptive omnichannel solutions

Global Blue Ventures - the entity created by Global Blue to focus on investing in and partnering with third parties that offer best -in-class RetailTech - advised on the deal.

Global Blue’s investment in Reflaunt is part of its strategic mission to enrich its post-purchase solutions and help its retail clients to extend their customer journey.

Reflaunt joins other post -purchase specialists that are part of Global Blue Ventures’ RetailTech hub, including ZigZag, a leading eCommerce return management platform, Yocuda, a digital receipt provider, and TOSHI, a luxury concierge service that brings the dressing room experience to the customer’s home.

Tomas Mostany, SVP Strategy & Chief Product Officer , Global Blue, commented:
“The resale market is one of the fastest growing sectors in luxury, and customer demand for circular fashion is strong. Our partnership with Reflaunt continues to place us at the forefront of innovation for retail growth areas, enabling us to constantly offer new solutions that empower our merchants to capture the opportunities these fast-growing new sectors represent.”

Stephanie Crespin, Co-founder and CEO, Reflaunt, commented:
"We’re excited to join forces with Global Blue - thanks to its wide network of RetailTech specialists and retail clients, Reflaunt will be able to deepen the connection with hundreds of luxury brands and continue to establish itself as a gateway to endless after -use destinations for each product in the market.”

1Reflaunt’s network of marketplaces includes Minto, eBay, Tradera, Rebelle, Tradesy, Carsouselle, Vestiaire Collective, Goat and Joli Closet

Source: Global Blue

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
Global Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments partner, empowering retailers to improve their performance and shoppers to enhance their experience.

Global Blue offers innovative solutions in three different fields:

  • Tax Free Shopping: Helping retailers at over 300,000 points of sale to efficiently manage 35 million Tax Free Shopping transactions a year, thanks to its fully integrated in-house technology platform. Meanwhile, its industry-leading digital Tax Free shopper solutions create a better, more seamless customer experience
  • Payments services: Providing a full suite of foreign exchange and Payments technology solutions that allow acquirers, hotels and retailers to offer value-added services and improve the customer experience during 31 million payment transactions a year at 130,000 points of interaction
  • Complementary RetailTech: Offering new technology solutions to retailers, including digital receipts and eCommerce returns, that can be easily integrated with their core systems and allow them to optimise and digitalise their processes throughout the omni-channel customer journey, both in-store and online
     

In addition, our data and advisory services offer a strategic advisory to help retailers identify opportunities for growth, while our shopper experience and engagement solutions provide data-driven solutions to increase footfall, convert footfall to revenue and enhance performance.|

For more information, visit http://www.globalblue.com/corporate/

Pre-pandemic figures FY 2019-20


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