LONDON, Jan 19 (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 utilise 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.
(Reporting by James Davey, Editing by Paul Sandle)
Marks & Spencer (MKS)
ASOS (ASC)