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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
We are one of the best prepared and the least affected, he told Reuters.<\/p>\n
He said that for product not sent direct to Europe the group will utilise bonded warehouses.<\/p>\n
Tariffs dont need to be paid when goods are moved between the bonded warehouses.<\/p>\n
Well 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)<\/p>\n
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Superdry to use bonded warehouses to avoid post Brexit EU tariffs - Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 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 Continue reading