When hoodies take over Europe: How Vatglobal helped this iconic US streetwear brand expand globally and automate their compliance
Before meeting with Vatglobal, S had been using multiple agents across many different countries to maintain their VAT compliance. Their in-efficient supply chain resulted in erosion of margins, delayed deliveries and compliance penalties from various European tax offices. Most crucially, there was no automation within the VAT compliance process, which made scaling their sales an impossibility.
S partnered with Vatglobal, plugging into our centralized and tech-based service. Using the automated power of vsuite, Vatglobal is able to manage its VAT reporting seamlessly from one single source of truth, ingesting the necessary sales data direct from their systems. In addition, our team of consultants advised on a re-structuring of their supply chain to take advantage of VAT deferment schemes and using our vship app, optimised the fulfilment process, both internationally and last mile.
The Results: a snapshot of success
- 28 - VAT Registrations manage
- 4 - System integrations to automate reporting
- $850,000 - Savings made in reduction in shipping costs and deferment of import VAT
S are not only leading the charge in streetwear but chose to adopt the leading VAT compliance software and management services for their own business, proving that digital transformation can filter into all fields of business including VAT departments. With vsuite's robust technology and the centralised, integrated approach to VAT compliance from one single provider, the Supreme team can rest easy knowing that they are 100% compliant in all the necessary jurisdictions in which they sell.