Import news and archive

Superdry CEO says Shein is being allowed to ‘dodge tax’

Julian Dunkerton, the chief executive officer of Superdry, has said that Chinese fast fashion giant Shein is being allowed to “dodge tax”, and is thus calling on the UK government to take action. Speaking to the Today Programme on Radio 4, and later reported on by the BBC, Dunkerton said the UK Treasury would do well to get rid of a “loophole”...

BusinessFeatured

Tensions on the Red Sea and in transport: Fashion is one of the most affected sectors

The cost of rent has doubled and transport times have increased considerably. The tensions surrounding the Red Sea in connection with the attacks by the Houthi Rebels are having an impact on the national and European economic system. A survey by the Italian business association Confcommercio has highlighted the impact of the crisis in the Red...

Management |BUSINESS & OPINION Featured

Everyone Loses in a Tariff War

As of June 22, 2018, the European Commission imposed temporary twenty-five percent ad valorem tariffs on certain goods originating in the United States and imported into the European Union. The list of goods affected by these tariffs includes cosmetic preparations, t-shirts, trousers, denim, and footwear, among others. This measure was in direct...

Business

Lingerie company wins legal battle over special bra tax

Amoena, a lingerie company that produces post-surgery bras, swimwear and tops for women who have undergone a mastectomy, have won a legal battle over being taxed. The Supreme Court in the USA have ruled the company should be exempt from European customs duty, which means 6.5 percent will not be payable on its Carmen bra. Customs duties make...

BusinessFeatured

Fashion brands affected by volatile currencies

As the majority of fashion companies export their goods, the costs, sales and profitability of their brand can suffer when there is a high fluctuation in currencies. Devaluation of the rouble at the end of 2014, for example, saw companies like Zara, Adidas, New Look and River Island all close stores in Russia. One way to combat currencies woes...

Fashion

EU must end shoe import tax

Retailers are urging the European Commission to accept that import taxes which have pushed up the price of shoes from China and Vietnam should finally end. The tariffs were originally imposed in 2006, then extended in 2008 at the request of European manufacturers who claimed Chinese and Vietnamese makers were competing unfairly. The tariffs are...