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 BakerMckenzie, 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.


Founded in January 2015, Walter Billet Avocats is dedicated to assisting companies and investment funds in the areas of corporate law (M&A, Private Equity), innovative technologies (in particular IT and internet), intellectual property and employment law (employment contracts, management packages, HR assistance…).

Walter Billet Avocats, which relies on a global understanding of the innovation ecosystem, positions itself as a bridge between companies that have developed their corporate venture department, start-ups, and funds, In addition to the services it provides to innovative companies, the firm also assists industrial companies, both as counsel and in litigation, with their labor and social security law issues (URSSAF risk, restructuring, collective agreements), their data protection compliance (RGPD), the management of their brand portfolio, as well as during their external growth operations.


Founded in 1863 in San Francisco, Orrick, Herrington & Sutcliffe is an international law firm specializing in technology and innovation, energy and infrastructure, and finance with nearly 1,000 lawyers in more than 25 offices worldwide. In France, our multidisciplinary team of 100 lawyers and legal professionals, including 28 partners, is regularly chosen by French and international companies of all sizes, financial institutions and investment funds to assist them in their strategic projects. Our lawyers provide tailor-made legal solutions for the most innovative transactions as well as for complex litigation.


With more than 50 years of experience in the French market, Baker McKenzie is the go-to firm for French companies, multinationals and financial institutions seeking top-notch advice on tax, M&A and information and communications technology. The quality of our services is reflected in the number of leading companies that turn to us, as well as in the recognition we enjoy in the legal sector.

Our 170 lawyers cover all areas of French and international law, including Banking/Finance, Competition/Distribution, Employment/Expatriation, Intellectual Property, Information and Communication Technologies, Litigation and Arbitration, Mergers and Acquisitions, Public Law and Environmental Law, Real Estate and Taxation. We use our international and multidisciplinary approach to help our clients meet complex local and cross-border challenges and achieve their goals.


More from Walter Billet Avocats