6-K

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 2023

Commission file number: 001-39477

GLOBAL BLUE GROUP HOLDING AG

(Exact name of Registrant as specified in its charter)

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

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On May 11, 2023, Global Blue Group Holding AG (the "Company")issued a press release, attached as exhibit 99.1 to this Form 6-K, providing information regarding the continued overall dynamic recovery of Tax Free Shopping in Continental Europe, and Asia Pacific.

INCORPORATION BY REFERENCE

This report on Form 6-K and the exhibits hereto shall be deemed to be incorporated by reference into the registration statements on Form F-3 (Nos. 333-259200, and 333-267850) 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incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

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 11, 2023

GLOBAL BLUE GROUP HOLDING AG

By:         /s/ Jacques Stern

Name:         Jacques Stern

Title:         Chief Executive Officer    

EXHIBIT INDEX

Exhibit number	Description
99.1	Press release regarding the continued overall dynamic recovery of Tax Free Shopping in Continental Europe, and Asia Pacific

EX-99.1

1 GLOBAL BLUE RELEASES THE MONTHLY TAX FREE SHOPPING BUSINESS UPDATE FOR APRIL 2023 Signy, Switzerland, May 11, 2023 New data from Global Blue shows that the overall dynamic recovery for Tax Free Shopping remains strong across Continental Europe and Asia Pacific. Globally, issued Sales in Store like-for-like recovery remains solid at 106%1 in April vs. 101%1 in Q1 2023. This acceleration of the recovery in April is due to the progressive return of Mainland Chinese shoppers. This is despite an unfavorable calendar effect linked to the absence of Gulf Cooperation Council Citizens traveling in April due to Ramadan2. For the first time, the Asia Pacific recovery rate almost reached 2019 levels, at 99%1. Continental Europe recovery remains solid In Continental Europe, the recovery is stable at 110%1 in April compared to 109%1 in Q1 2023. Regarding origin markets, the return of Mainland Chinese residents has accelerated, with a recovery rate reaching 47%1 in April vs. 31%1 in Q1. This acceleration has offset the slowdown in the Gulf Cooperation Council residents’ recovery at 109%1 in April vs. 255%1 in Q1 due to the Ramadan unfavorable calendar effect2. US shopper recovery remains strong at 274%1 in April vs. 288%1 in Q1. In terms of destination markets, the solid recovery in April was across all destinations, predominantly led by Greece at 155%1, France at 138%1, Spain at 123%1, Italy at 111%1, and Switzerland at 107%1. An accelerating recovery in Asia Pacific In Asia Pacific, the recovery reached 99%1 in April vs. 87%1 Q1. In terms of origin markets, the return of Mainland Chinese shoppers has also been a key contributor to the strengthening recovery in Asia Pacific. In April, Mainland Chinese shopper recovery in South Korea reached 105%1 in April vs. 47%1 in Q1, whilst in Singapore Mainland Chinese shopper recovery reached 83%1 in April vs. 40%1 in March.

2 With regards to the other origin market nationalities, Hong Kong and Taiwan residents continue to have an elevated recovery level at 349%1 in April vs. 368%1 in Q1. This was followed by South East Asia residents at 164%1 in April vs. 145%1 in Q1. Regarding destination markets, Japan and South Korea are leading the Sales in Store like- for-like recovery, both reaching 102%1 in April, followed by Singapore at 94%1. A gradual recovery for Mainland Chinese shoppers Since China's borders reopened in January 2023, air capacity recovery from Mainland China to key destinations has been gradually on the rise. In Continental Europe, air capacity recovery reached 36%3 in April vs. 22%3 in March. In Asia Pacific, air capacity recovery reached 31%3 in April vs. 14%3 in March as a result of the easing of Covid restrictions in the region. The willingness to travel for Mainland China shoppers has significantly increased, reaching 79%4 in April vs. 70%4 in March. The average spend progression is also strong for Chinese shoppers. In April, it increased by 59%5 in Continental Europe and 127%5 in Asia Pacific. On the back of this progressive air capacity recovery and average spend increase, there is a steady improvement in the Sales in Store like-for-like Mainland Chinese recovery which has reached 45%1 worldwide in April vs. 32%1 in Q1. Projected Air capacity recovery from Mainland China3 May 2023 June 2023 Q3 2023 Continental Europe 41% 46% 51% Asia Pacific 42% 49% 49% APPENDIX YTD Data Issued SIS L/L recovery1 (in % of 2019) April 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Continental Europe 110% 109% 104% 101% 75% 53% Asia Pacific 99% 87% 80% 51% 39% 16% TOTAL 106% 101% 97% 89% 65% 40% 1 Recovery rate is equal to 2023 Issued Sales in Store divided by 2019 Issued Sales in Store, like-for-like (i.e.: at constant merchant scope and exchange rates). 2 Ramadan took place from May 5th to June 3rd in 2019, while it took place from March 22d to April 20th in 2023, leading to an unfavorable basis effect in March and April 2023. 3 Air capacity: ForwardKeys data platform – March 2023 4 Global Blue Willingness to travel survey 5 Chinese shoppers increase of average spend per international shopper versus 2019

3 Glossary - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - South East Asia includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore - North East Asia includes: Japan, South Korea 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 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 digi tal Tax Free shopper so lutions create a better , more seamless customer experience . • Payment services: Providing a ful l suite of foreign exchange and Payment technology solutions that a l low acquirers, hote ls, and retai lers to offer value -added services and improve the cus tomer experience 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 al low them to optimize and digita l ize 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 https://www.globalblue.com/about -us/media Global Blue Monthly Speaker Notes Data, April 2023, Source: Global Blue