KNITIDO: Socks export to EU, EPA utilization: cross-border EC from Germany
Berlin
November 08, 2019
KNITIDO: EU export of socks
KNITIDO (Kainan City, Wakayama Prefecture) is a long-established brand of luxury five-finger socks.
Produced the world’s first “three-dimensional yubi socks” using a fully knitted flat knitting machine
We are committed to quality and work on developing yarns that meet market needs and applications.
In 2007, KNITIDO Europe was established in Berlin.
EU / EPA: Introduction
On October 8th, JETRO interviewed “Utilization of Japan-EU Economic Partnership Agreement (EPA)”.
It is said that Japan-EU / EPA is used for the export of five-finger socks.
KNITIDO’s major overseas markets are Europe.
“Online sales from Germany, France, Spain, Italy, UK, etc.”
EU-Japan: Effect
In the overseas export business, products exported by the Japanese headquarters are first imported by a German subsidiary.
After that, we use a method of shipping to customers and customers in Europe.
In other words, Japan-EU / EPA is used for “export from Japanese headquarters to German subsidiary”.
At the end of 2018, we obtained information on the effective date of the EU-Japan-EPA in February 2019, and proceeded with preparations at the Nittido head office.
By “ the declaration of origin on this invoice”, customs clearance is smooth in Germany.
The tariff rate on EU socks is 12%, and the cost reduction effect by eliminating tariffs is great.
A German subsidiary enjoys this advantage.
5-finger socks: Competition in the EU
In the EU, awareness of five-finger socks is spreading.
In the European market, “cheap similar products from China” have begun to circulate in large quantities.
However, Germany is a market that thinks that “good quality products can be paid for.”
The price will remain unchanged, and the cost savings resulting from the elimination of tariffs will be used as a source of sales channel development and marketing activities.
-JETRO
https://www.jetro.go.jp/biznews/2019/11/e92b09bb2b59cb3c.html