The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Some companies, such as Finnish outdoor retailer Scandinavia Outdoor, say they are suspending shipping to Great Britain following Brexit tax changes that came into force on January 1.
Changes in VAT rules mean the tax is now being collected at the point of sale for any goods under £135, rather than at the point of importation. That means companies sending goods to England, Scotland or Wales now have to register and file accounts with British tax authorities.
Elsewhere, some courier services, like FexEx-owned TNT, are imposing surcharges on packages sent between the EU and the UK to cover additional investments required to adjust their systems, reports the BBC.
Scandinavia Outdoor plans to reopen its store for UK-based customers “as soon as our UK VAT-registration and the overall process of selling to the UK post-Brexit has been sorted out,” the brand wrote on its website.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.