August 25th 2022
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:
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
Virginie Alem - SVP Marketing & Communications
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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:
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/
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