Walter Billet Avocats (Fabien Billet) advises Shipup for the sale of a majority stake to Global Blue

The Swiss group Global Blue, a leader in the tourist tax-free sector, finalized on October 31 of this year the acquisition of a majority stake in Shipup, an innovative player in the post-purchase e-commerce market.

Shipup’s scalable, plug and play solution gives it the unique ability to address the needs of both mid-market brands and larger international clients.

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

Global Blue’s acquisition of Shipup is another key development in its goal to build an end-to-end ecosystem of post-purchase solutions for retail clients. This includes (i) ZigZag Global, leading e-commerce returns provider, which strongly complements Shipup’s solutions (ii) Yocuda, market-leading digital receipt technology, and (iii) specialized players in the luxury delivery and recommerce space.


For this transaction, Global Blue was advised by Baker Mckenzie, with Antoine Caillard (Senior Counsel), David Courchia (Senior Associate) and Arnaud Benezeth (Associate) on the Corporate / M&A aspects, and Charles Baudouin (Partner) on the tax aspects.

The shareholders of Shipup were advised by Walter Billet Avocats with Fabien Billet (Partner) and Miguel Goncalves (Associate) and Thomas Forin on the Corporate / M&A aspects, while Orrick, with Anne-Sophie Kerfant (Partner), assisted them on the tax aspects. Alpha Capital Partners, with Marc Oiknine (Partner), also acted as investment bank for Shipup.