ZigZag Global, the award-winning returns management platform, have announced they have reached an agreement with Global Blue — a leader in Tax-Free Shopping and Added Value Payment Services, to acquire the high growth business.
“The acquisition will enhance ZigZag’s rapid growth by cross-selling its solutions into Global Blue’s extensive merchant network and enhance its value proposition through integration to Global Blue’s payments and data capabilities. Moreover, Global Blue will further invest in ZigZag to help it provide more value to its customers and accelerate its innovative returns solutions to the global market.
The deal follows a highly successful year for ZigZag which saw its technology power 100 global ecommerce retailers’ returns with a suite of solutions to optimise the customer returns journey. ZigZag recorded dramatic growth of more than 500% of its processed returns in 2020 versus 2019.”
– ZigZag Global
ZigZag was founded in in the UK in 2015 by Al Gerrie and Laurence Guy, and originally crowdfunded before being backed by Dolphin Finance Corporation, Ascension Ventures, Plug N Play, Circularity Capital and Maersk Growth.
Headed by Al Gerrie as CEO, we’ve watched ZigZag grow from a concept to a fledgling business which quickly became the leading returns management platform for world class retailers.
I first met Al when he was running a business called CableStar and, like many Tamebay readers, selling on marketplaces. In the following years he worked at several top retailers such as Office Shoes and Mountain Warehouse before eventually going on to found ZigZag Global to solve a recurring problem he saw in the industry – how to streamline the returns process making it painless for consumers and give retailers both visibility of returns and enable them whether domestic or international.
Today ZigZag powers returns for many of the top retailers in the country Al will remain in place as ZigZag Global CEO and as he has been an amazing supporter of Tamebay for many years, we really are thrilled to see one of our own achieve the immense success that comes with this announcement. Bravo Al!
The transaction is expected to close on or before the end of March 2021, no financial details of the acquisition have been disclosed.
“The impact of COVID-19 has accelerated the shift to online we were already seeing in the market. “It is now more important than ever that retailers invest in their returns proposition and keep pace with consumer demand.
This is excellent news for our customers and partners alike, the acquisition will enable us to expand our ecosystem and provide a greater quality of service across our network. Now is the time to scale our returns platform and enhance the experience for retailers across the globe. We’re excited about this acquisition; Global Blue is an ideal fit for ZigZag. We are confident the partnership will accelerate their growth even further, supported by an ambitious investment plan.”
– Al Gerrie, Founder and CEO, ZigZag Global
“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 ecommerce, specialised in the management of ecommerce returns. The synergies between the two companies are strong and will help both of us to grow faster.”
– Jacques Stern, CEO and President, Global Blue
“The rapid growth of fast fashion and online retail has led to a major sustainability challenge, with too many returned items ending up in landfill. ZigZag’s solution results in significant cost savings for retailers, a superior customer experience and a reduction in product wastage.
We are proud to have supported the growth and internationalisation of ZigZag’s circular economy solution to date. Global Blue will be an ambitious new owner of ZigZag, with the global reach and resources further to accelerate the growth and impact of ZigZag.”
– Ian Nolan, founding partner, Circularity Capital
“We are delighted for the ZigZag team in securing a bright future and long-term home for ZigZag Global. Maersk Growth backed ZigZag in 2019, and has since worked closely with the team to co-create a solution which will continue to serve Maersk e-commerce customers.”
– Oliver Finch, Partner, Maersk Growth
“This acquisition will enable more retailers to take advantage of ZigZag’s award-winning platform and help them to compete on the global stage.”
– Laurence Guy, co-founder, ZigZag Global
The post ZigZag Global Returns Management Platform acquired by Global Blue appeared first on Tamebay.
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