Global Blue Invests in TOSHI
Originally published by Business Wire
TOSHI is a fast-growing retail logistics tech company that meets the demand for retailers to bridge the gap between the online and in-store luxury experience
TOSHI’s technology can be activated seamlessly via e-commerce or in-store platforms, and empowers retailers to provide an elevated client delivery experience
Global Blue has invested in TOSHI as part of its ongoing commitment to expand its omnichannel offering, bringing retailers the best-in-class new RetailTech solutions that meet their evolving needs
Today, Global Blue has acquired a minority share in an innovative and fast-growing new retail logistics tech company, TOSHI. The investment represents another step forward in the strategic growth of Global Blue’s omnichannel offering to retailers.
TOSHI partners with brands to bring the store to the customer - at home, on-demand
In 2021, online luxury sales grew by 27 percent to €62 billion, but while this market continues to expand exponentially, luxury retailers are met with the challenge of matching their online offering with their exclusive in-store experience.
TOSHI bridges this gap with proprietary SaaS technology that enables brands to offer a concierge-style service directly to the customer’s destination of choice. The e-commerce solution seamlessly integrates into all major platforms and the in-store interface can be activated via an app or incorporated into the brand’s existing clienteling software.
Once activated, TOSHI’s intelligent logistics infrastructure can provide a suite of client delivery options, including same / nominated day, client-scheduled, 30-60 minute delivery windows, as well as returns management. A network of highly trained Assistants can deliver the ‘in-store’ dressing room experience, with services such as Wait & Try, Try Before You Buy, Size Up / Size Down and Inspire Me, creating ‘upsell’ opportunities for the brand and increasing average order value (AOV).
TOSHI uniquely combines logistics capabilities and elevated customer service to provide opportunities for inventory optimisation, stronger conversion rates and higher customer retention. It provides a client delivery experience much more in line with luxury brand and client expectations, and drives key performance metrics, increasing AOV and revenue, while reducing return rates.
TOSHI has partnered with many of the world’s top luxury brands and it currently operates in the UK and USA, with plans to expand into Europe (Paris, Milan) and Asia (Hong Kong).
TOSHI joins Global Blue’s network of RetailTech investments as part of its omnichannel expansion
Global Blue Ventures - the new entity created by Global Blue to focus on investing in and partnering with third parties that offer best-in-class RetailTech - advised on the TOSHI deal.
The investment enriches Global Blue’s portfolio of omnichannel technology solutions that empower luxury retailers to improve their performance and shoppers to enhance their experience. TOSHI will join other industry-innovators including Yocuda, a leading digital receipt provider and ZigZag Global, a new e-commerce returns service.
Via the partnership, TOSHI and Global Blue will take advantage of cross-selling opportunities and explore integrations of TOSHI services with Global Blue’s Tax Free Shopping and e-commerce returns services.
As part of the deal, Tomas Mostany, SVP Strategy & Chief Product Officer at Global Blue, will join TOSHI’s executive board. He commented:
“The rapid expansion of online luxury shopping represents a strong growth opportunity for retail. However, the disconnect between the quality of the online and physical experience is a challenge for high-end brands. TOSHI’s innovative and best-in-class service offers an ideal solution to this problem. We are very pleased to welcome TOSHI into our RetailTech network and to bring its value to Global Blue’s retail partners.”
Sojin Lee, Founder and CEO, TOSHI commented:
“We believe that the luxury last-mile experience that TOSHI provides is an integral part of the customer journey. We are very pleased to be working with Global Blue and joining its RetailTech network. This important strategic partnership means that we can collaborate with other market-leading innovators and accelerate TOSHI’s international growth to meet the strong demand for our services.”