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 October, 2024

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 office)


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

Form 20-F
Form 40-F







INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On October 10, 2024, Global Blue Group Holding AG (the "Company") issued a press release, attached as exhibit 99.1 to this Form 6-K, providing a business update on the worldwide Tax Free Shopping growth across Continental Europe and Asia Pacific.





INCORPORATION BY REFERENCE

This Report on Form 6-K and the exhibit hereto shall be deemed to be incorporated by reference into the registration statements on Form F-3 (Nos. 333-259200, 333-267850, 333-274233, 333-280087 and 333-282068) and Form S-8 (No. 333-260108) of the Company and the prospectuses incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.





EXHIBIT INDEX








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: October 10, 2024


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

Global Blue Releases the Monthly Tax Free Shopping Business Update for September 2024 Signy, Switzerland, October 10, 2024 • New data from Global Blue reveals that the worldwide growth in Tax Free Shopping is positive across Continental Europe and Asia Pacific: Issued Sales in Store like-for-like year-on-year performance reached +13%1 in September 2024. A sustained performance in Continental Europe for international shopping In Continental Europe, the issued Sales in Store growth rate increased by +11%1 in September 2024 vs. last year. This growth was led by a +14%1 increase in the number of shoppers. This performance was slightly impacted by a softening of -2%1 in the average spend per shopper, as a result of an overall inflation slowdown. When examining origin markets, the positive momentum in issued Sales in Store growth is steadily progressing across most nationalities. US and GCC shopper Tax Free Spend led at +13%1 vs. last year, closely followed by Mainland Chinese shoppers at +11%1. Regarding destination markets, September showed a stable performance in Spain at +24%1 and Italy at +17%1, with a moderate performance in France at +7%1. A slowdown of the hyper growth Tax Free Spend in Asia Pacific In Asia Pacific, the issued Sales in Store growth reached +19%1 in September 2024, led by a +29%1 increase in the number of shoppers and a -8%1 decrease in the average spend per shopper. 1 Growth rate variation year-on-year (2024 vs. the same period in 2023)


 
The growth rate in September has softened compared to the hyper growth of +63%1 over the last three months2, mostly due to the recent strengthening of the Yen against all major currencies, particularly against the Chinese RMB. Regarding origin markets, the positive momentum in issued Sales in Store growth continued across all nationalities. Mainland Chinese Tax Free Spend led with a +30%1 increase, boosted by a +75%1 rise in Mainland Chinese shoppers. Meanwhile, North East Asia Tax Free Spend grew by +29%1 vs. last year, while Hong Kong and Taiwan experienced a +1%1 growth rate vs. last year. When examining destination markets, September showed a varied performance across destinations, with South Korea at +45%1, Japan at +23%1, and Singapore at -2%1. 2 The last three months: June, July, and August 2024


 
Worldwide Year-on-Year Growth Rate (2024 vs. 2023) Worldwide Recovery Rate (versus 2019) Issued SIS L/L Year-on- Year Growth Destination market weight in Issued SIS 2023 September 2024 August 2024 July 2024 CY Q2 2024 CY Q1 2024 France 19% +7% +3% -2% +10% +11% Ita ly 17% +17% +12% +19% +22% +29% Spain 11% +24% +23% +25% +33% +32% Germany 6% -3% +3% +10% +2% +6% Other countries 18% +7% +8% +12% +21% +16% Total Continental Europe 71% +11% +10% +12% +19% +19% Japan 18% +23% +50% +103% +172% +137% Singapore 8% -2% +4% -9% -1% 25% South Korea 2% +45% +43% +44% +60% 110% Total Asia Pacific 28% +19% +37% +64% +109% 97% Total Latin America 1% +19% +18% +16% -2% +9% Total worldwide 100% +13% +17% +25% +41% 40% Issued SIS L/L recovery (in % of 2019) Destination market weight in Issued SIS 2019 September 2024 August 2024 July 2024 CY Q2 2024 CY Q1 2024 France 16% 158% 141% 136% 164% 165% Ita ly 17% 155% 139% 146% 156% 123% Spain 10% 169% 153% 162% 164% 151% Germany 9% 79% 68% 75% 80% 65% Other countries 19% 127% 119% 129% 132% 126% Total Continental Europe 71% 141% 126% 133% 143% 128% Japan 14% 243% 282% 344% 327% 232% Singapore 11% 74% 83% 85% 92% 92% South Korea 3% 163% 159% 165% 158% 125% Total Asia Pacific 28% 162% 180% 215% 226% 166% Total Latin America 1% 142% 100% 89% 101% 94% Total worldwide 100% 146% 138% 151% 165% 140%


 
APPENDIX GLOSSARY - European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc. - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - North East Asia countries includes: Japan, South Korea - South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore 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 is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance. With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions. With over 2,000 employees, Global Blue generated €28bn Sales in Store and €422M revenue in FY 2023/24. Global Blue is listed on the New York Stock Exchange. For more information, please visit www.globalblue.com Global Blue Monthly Intelligence Briefing, September 2024, Source: Global Blue


 

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