Buying stock in Us and bringing it into Ireland??

pseudonym1

I am currently in the elementry stages of compilng a business plan.. I wish to set up a fashion boutique for a market that is seemingly not catered for here in Ireland. I definitely want to source labels and secure exclusivity rites. These would be mainly from US and canada - what I need to know is the pros and cons of bringing in from states into Ireland in current climate. So if any of ye wise boardsies could share your experiences advice or knowledge - t'would be great.
Thanx:)

Mickk

pseudonym1 wrote: »

I am currently in the elementry stages of compilng a business plan.. I wish to set up a fashion boutique for a market that is seemingly not catered for here in Ireland. I definitely want to source labels and secure exclusivity rites. These would be mainly from US and canada - what I need to know is the pros and cons of bringing in from states into Ireland in current climate. So if any of ye wise boardsies could share your experiences advice or knowledge - t'would be great.
Thanx:)

I currently import from china, thailand, india, pakistan and the USA and I think products manufactured in the USA is the way forward. With the far east they all quote in dollars but as the actual dollar euro rate changes the dollar price they quote you changes in line with the rate, so over the last few years prices have risen steadily. In the USA I am still paying the same dollar amounts as I did years ago (only for made in america products)!

pseudonym1

Mickk wrote: »

I currently import from china, thailand, india, pakistan and the USA and I think products manufactured in the USA is the way forward. With the far east they all quote in dollars but as the actual dollar euro rate changes the dollar price they quote you changes in line with the rate, so over the last few years prices have risen steadily. In the USA I am still paying the same dollar amounts as I did years ago (only for made in america products)!

Thanks for that what about tax and legislation or there any or many hidden costs. Is it same as importing from eu.

How do you claim exclusivity rights? Very hard to do, no?

pseudonym1

I am looking at small lables that are pretty fresh I have found an agent suppling 2 I love that will ensure no one else in Ireland will have them as he is sole agent that supplys euorpe I trust that. Its just a verbal agreement but I am assuming that is honnorable enough.
My partner has been a buyer for over 20 years and in her experience has always worked like this.

Mickk

Deleted User wrote: »

How do you claim exclusivity rights? Very hard to do, no?

Most suppliers I have dealt with will give you an exclusivity contract, just simply agreeing to not sell to anyone else in Ireland. It works well for me, actually might get my biggest contract through the agreement, a uk (with shops here too) company contacted my supplier and he sent them to me, what he probably didn't realise was that they turn over about 5 billion pounds!!

As for importing from US versus EU yea its very different. There is import duty and vat liable on imports from the US (or anywhere outside the EU), the vat makes no difference from EU imports because either way the end price has vat on it and any vat paid on imports can be claimed back or offset against vat received.

The one thing I would say to you is that if you plan on only selling these two brands you might be best trying to go the manufacturers directly as don't forget the european guy is taking a nice slice of the profits as it stands.

A simplified example (minus shipping and bulk discounts) is if the european supplier gets a dress for 20 euro and works on a 33% margin (common wholesale margin) he sells it on to you for 30 euro, and you work on a common retail margin or 50% you sell it for 60 euro. As it stands every dress you sell you double up your money but if you were to buy from the states you could triple your money...