Global Blue Buys Majority Stake In Shipup; Terms Not Disclosed

(RTTNews) - Swiss technology company Global Blue Group Holding AG (GB) announced Tuesday the acquisition of a majority stake in Shipup, a RetailTech post-purchase company. The financial terms of the deal were not disclosed.

The transaction is expected to close by the end of October 2022.

Shipup offers merchants a simple, fully-controlled, and polished experience from purchase to delivery, protecting their brand and reputation while increasing their repeat purchases.

Shipup's solution empowers retailers to gain complete control of post-purchase communications, allowing them to create branded, personalized, and proactive, automated messages to their consumers across multiple events, channels, and languages.

Further, customers receive live delivery notifications, AI-powered delivery estimates, and access to tracking via the retailer's website.

The company noted that Shipup helps brands to reduce delivery requests by up to 80% and save up to 50% on refunds. They also increase satisfaction by up to 140% and 19% repeat purchase on average.

Shipup has gained over 370 clients since being founded in 2016, ranging from retailers including NA-KD, FNAC Spain and Carrefour to specialist brands such as Purple Carrot, Hofmann and L'Occitane.

Tomas Mostany, SVP Strategy & Chief Product Officer, Global Blue, said, "With more than half (56%) of shoppers currently disappointed by the e-commerce post-purchase experience, Shipup's technology represents a powerful solution to a major challenge for our retail partners."