How to best expand a UK jewellery business into Europe post Brexit?

Pip999
Excursionist
41 0 6

Hi all,

 

Like many other UK retailers post Brexit  trading to the UK has taken a hit. We're still selling into Europe, but the red tape often causes delays. We're a Jewellery retailer and some countries insist on checking hallmarking of goods which can be expensive and time consuming. Also margins to Europe have taken a hit as we effectively still charge customers 20% (included within the retail price), but most customs and duty fees work out to be closer to 25% in Europe. 

 

So.. we're looking at partnering with a new workshop in Europe, so we can produce goods in Europe and send to Europe. This does away with above issues I've touched upon.

 

Has anyone done this and can you recommend the best strategy?

 

I'm guessing set up a company in a EU country with low Corporation tax, say Ireland. Some obvious questions come to mind.

 

Can I still sell via our current site? Sales are deposited to our biz bank for UK company. Hence the EU company would have no revs! We might have to set up a second store which would be a shame, but not the end of the world.

 

Anyone who has been through this before?

 

P

 

Replies 0 (0)