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Form 6-K Global Blue Group Holdin For: May 23

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May 23, 2022 6:06 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2022

Commission file number: 001-39477

GLOBAL BLUE GROUP HOLDING AG

(Translation of registrant's name into English)


Zürichstrasse 38, 8306 Brüttisellen, Switzerland
+41 22 363 77 40
(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒
  Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes
 No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes
 No ☒



INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On May 23, 2022, Global Blue Group Holding AG issued a press release, attached as exhibit 99.1 to this Form 6-K, announcing that Global Blue CEO, Jacques Stern, will be presenting at the Walpole British Luxury Summit in London on May 23, 2022 at approximately 1pm CET. The press release also provides information regarding the continued recovery of Tax Free Shopping in Continental Europe. In addition, a copy of the presentation containing further details will be available for a limited time under the Events and Presentations section of the company’s investor relations website.


This report on Form 6-K and the exhibit hereto shall be deemed to be incorporated by reference in the registration statements on Form F-3 (No. 333-259200) and Form S-8 (No. 333-260108) of the Company and the prospectuses incorporated therein.




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
                    
         
Date: May 23, 2022

GLOBAL BLUE GROUP HOLDING AG
             
By:         /s/ Jacques Stern
Name:         Jacques Stern
Title:         Chief Executive Officer    















EXHIBIT INDEX

Exhibit numberDescription
99.1

EUROPE’S TAX FREE SHOPPING GAINS STRENGTH WITH RECORD RECOVERY RATES • Today, at Walpole’s latest Luxury Summit in London, Global Blue will present new data signalling the continued recovery of Tax Free Shopping in continental Europe • During the first few months of 2022, Tax Free Shopping recovery in continental Europe 1 reached its highest levels since the start of the pandemic, peaking at 66% 2 in March, thanks to pent-up demand and the recovery of international air travel • Top Tax Free nationalities including the Gulf Cooperation Council Countries (GCC) 3 , US and Regional European countries 4 continued to outperform pre-pandemic levels, reaching 175%, 119% and 106% respectively in Q1 2022 Eysins, Switzerland, 23 May 2022 Today, at the Walpole British Luxury Summit in London, Global Blue CEO, Jacques Stern, will present new data that signposts the recovery of post -pandemic Tax Free Shopping in continental Europe. Europe’s Tax Free Shopping recovery continues to make strong progress as international travel resumes In the early months of 2022, Tax Free Shopping in Europe has seen its highest rate of post-pandemic recovery, reaching 66% in March 2022, versus the same period in 2019. In April, the recovery reached a slightly lower rate (56%) due to the temporary impact of Ramadan and subsequent decreased travel amongst GCC shoppers. 1 Continental Europe = Europe excluding the UK 2 Recovery rate is defined as the ratio between 2022 Sales in Store and 2019 Sales in Store, at constant scope and currency. 3 GCC shoppers: Shoppers from Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman 4 Regional shoppers: Shoppers who can reach destination by land transportation or less than 2 hours flight. Ex: Swiss, British, Ukraine, etc.

 
Shoppers from the GCC, US and European region exceed 2019 spending levels European recovery was fuelled by the strong performance of several top Tax Free Shopping nationalities. During Q1, GCC shoppers reached 175% recovery versus 2019, while those from the US and Regional Europe achieved 119% and 106% respectively. Recovery rose to 155% for US shoppers and 134% for Regional shoppers in April, while it went down to 43% for GCC shoppers, due to the Ramadan period . UK shoppers – a new nationality eligible for Tax Free Shopping since Brexit – also contributed to the improved recovery, accounting for 7% of all Tax Free Spend in Europe during April. Tax Free Shoppers’ strong appetite to travel and spend is driving recovery The ongoing recovery can be attributed to several key drivers, which inc lude: - Strong appetite for travel: According to latest ForwardKeys 5 data, air traffic demand to continental Europe is continually improving in 2022, with GCC demand reaching 72% recovery in Q2 (vs 68% in Q1) and US reaching 78% (vs 77% in Q1). - Pent-up demand: In 2022 (versus 2019), Tax Free Shoppers have increased their number of transactions and the average spend per transaction, which has led to an overall increase in individual spend: this is pent-up demand6, which reached +137% amongst GCC shoppers, +90% amongst US shoppers and +98% amongst Regional shoppers in Q1. Jacques Stern, CEO, Global Blue commented: “The strong performance of nationalities such as the GCC and the US is a very encouraging indication of how quickly and robustly Tax Free Shopping can recover when borders soften and international travel resumes. Meanwhile, the quick establishment of UK shoppers as a key Tax Free nationality offers promise for European retailers and we look forward to seeing the evolution of this new market throughout 2022 and beyond.” To access and download the full presentation, visit the investor section of the Company’s website at Global Blue Group Holding AG - Investor Relations, in the Events & Presentations section. All data are like-for-Like figures (at constant scope and currency). Source: Global Blue 5 ForwardKeys proprietary data 2022 6 Pent-up demand is equal to the spending increase per shopper in 2022 versus 2019

 
MEDIA CONTACTS Virginie Alem – SVP Marketing & Communications Mail: [email protected] INVESTOR RELATIONS CONTACTS Frances Gibbons – Head of Investor Relations Mob: +44 (0)7815 034 212 – Mail: [email protected] ABOUT GLOBAL BLUE Globa l Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments par tne r, empowering retai lers to improve their per formance and shoppers to enhance their experience. Globa l Blue offers innovative solutions in three different fie lds: • Tax Free Shopping: Helping retai lers at over 300,000 points of sale to e ffic ient ly manage 35 mil l i on Tax Free Shopping transactions a year, thanks to i ts fu l ly in tegrated in -house technology plat form. Meanwhi le , i ts industry -leading digital Tax Free shopper so lutions create a better, more seamless cus tomer experience • Payments services: Providing a ful l suite of foreign exchange and Payments technology so lutions that a l low acquirers, hotels and retai lers to offer va lue -added services and improve the customer exper ience during 31 mi l l ion payment transactions a year at 130,000 points of interaction • Complementary Reta ilTech: Offer ing new technology so lutions to retai lers, including digi tal receipts and eCommerce returns , that can be eas i ly integrated with their core systems and a l low them to optimise and digita l i se their processes throughout the omni -channe l customer journey, both in -store and online In addi t ion, our data and advisory serv ices offer a strategic advisory to help retai lers identify opportunit ies for growth, whi le our shopper exper ience and engagement solut ions provide data -dr i ven solutions to increase footfal l, convert footfa ll to revenue and enhance performance. For more in formation, vis i t http://www.globalblue. com/corporate/ Pre-pandemic figures FY 2019-20 Forward Looking Statements This press release contains certain “forward - looking statements” within the meaning of the Pr ivate Securit ies Lit igation Reform Act of 1995, Section 27A of the Securit ies Act and Section 21E of the Securit ies Exchange Act of 1934, as amended, inc luding s tatements regarding Globa l Blue or i ts management’s expectations , hopes , be liefs , intentions or stra tegies regarding the future. The words “anticipate”, “be lieve”, “continue”, “cou ld”, “es timate”, “expect”, “intends”, “may”, “might”, “plan”, “poss ible”, “potentia l”, “predict”, “project”, “should”, “would” and s imi lar express ions may identi fy forward -looking statements , but the absence of these words does not mean that a statement is not forward -looking. These forward- looking sta tements are based on Global B lue’s current expectations and be lie fs concerning future developments and their potent ia l effects on Global Blue. There can be no assurance that the future developments affecting Globa l Blue wi l l be those that we have anticipated. These forward -looking statements involve a number of r i sks , uncertainties (some of which are beyond Global B lue’s control ) or other assumptions that may cause actual results or performance to be materia l ly di f ferent from those expressed or implied by these forward- looking statements . These include commerc ial expectations and other external factors, including poli t ical , legal , fi s cal , market and economic conditions and factors affecting travel and trave ller shopping, including the g lobal COVID -19 pandemic and applicable legis lation, regulations and ru les ( including, but not l imi ted to, accounting polic ies and accounting treatments) , movements in foreign exchange ra tes, in f lation and other factors descr ibed under “Risk Factors” in Global Blue’s Annual Report on Form 20 -F/A for the fisca l year ended March 31, 2021 fi led with the Securit ies and Exchange Commiss ion (the “SEC”), and in o ther reports we fi le from time to t ime with the SEC, a l l of which are dif ficu lt to predict and are beyond Global Blue’s control . Except as required by law, Globa l B lue is not undertaking any obligation to update or revi se any forward - looking s tatements whe ther as a result of new in formation, future events or otherwise.

 

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