Superdry to Use Bonded Warehouses to Avoid Post Brexit EU Tariffs

A window display is seen at a Superdry store in London, Britain, March 1, 2019. (Reuters)
A window display is seen at a Superdry store in London, Britain, March 1, 2019. (Reuters)
TT
20

Superdry to Use Bonded Warehouses to Avoid Post Brexit EU Tariffs

A window display is seen at a Superdry store in London, Britain, March 1, 2019. (Reuters)
A window display is seen at a Superdry store in London, Britain, March 1, 2019. (Reuters)

British fashion group Superdry will use bonded warehouses to avoid having to pay tariffs on product re-exported to the European Union, its boss said on Tuesday.

UK retailers, including Marks & Spencer and ASOS, have complained of issues re-exporting goods to EU countries since the end of the Brexit transition period on Dec. 31, with tariffs imposed on items not made in the UK.

Superdry CEO Julian Dunkerton said the firm was well placed because most of the product it sold in Europe was shipped from suppliers directly to its warehouse in Belgium.

“We are one of the best prepared and the least affected,” he told Reuters.

He said that for product not sent direct to Europe the group will utilize bonded warehouses.

Tariffs don’t need to be paid when goods are moved between the bonded warehouses.

“We’ll be bonded by April, both in Europe and the UK,” Dunkerton said, pointing out that about 40% of its sales were made in Europe.



Shein Faces 150-mn-euro Fine in France

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
TT
20

Shein Faces 150-mn-euro Fine in France

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo

E-commerce giant Shein faces a possible 150-million-euro ($175-million) fine in France for failing to properly get consent to track users on the internet.

The regulator, the CNIL, faulted the fast-fashion retailer for using trackers called cookies that enable for targeted advertising to users without their approval as required in Europe, or for using a confusing method to get consent.

It also found during a 2023 inspection that when users refused the tracking cookies Shein continued to read information from them.

Given the firm has the technical and staff resources necessary to comply with the regulations its behavior was negligent, said CNIL.

Shein had recently complied with the regulations, it added.

A final decision on fining the fast-fashion giant should come within weeks.

Shein called the proposed amount of the fine "disproportionate", in a statement sent to AFP.

"Since August 2023 we have actively worked with the CNIL to ensure our compliance and respond to their queries," the China-founded firm said.

This additional possible fine from the CNIL follows a record 40 million-euro penalty it received last week from France's competition and anti-fraud office over "deceptive commercial practices" by misleading customers on price deals and on its environmental impact.