OFFICE SPACE

Meeting with Goli recap05/06/205 I will be the representative of the company for B2B transactions, collaboration, and worldwide development, especially outside Europe. Starting from the US and UAE. And afterwards focusing on countries such as Canada and England. We were working with 1st Dibs in the US, for a long time. But for the last 3 months, we have started having problems with them. Mostly about their policies, there have been many returns. For example, the worst one was that we sold a Birkin in togo leather which was authenticated by us. The customer declared that it is a fake, so then 1st dibs did the authentication, and they said it is authentic. After that client again declared that the description is not right and it is a torion leather, not Togo. Which again was checked by 1st Dibs, and it was togo, and then after she said she is not happy with it. And they made us take it back by breaking the principles of our contracts. Now we had to pay taxes for exports and imports which cost us a lot of money. And now the bag is being held in customs. While we have clients for it and it is very hard to get it out. We have been communicating with them every day for almost two weeks, and we hope to get it back by the end of the week. Experiences like this made us stop working with a company like first dibs. Now it’s my job to find alternatives. We need more platforms like this, Vestiaire Collective, first dibs. To be able to expand our selling network on top of our direct sales. The thing about these websites is that they change a lot. Sometimes they change their policies. Some of them can’t compete with the bigger tycoons and they vanish sometimes, or they get sold to other companies. So, I must always be up to date with them to choose them. And after choosing them contact them by mail or at a meeting to negotiate a collaboration with them as we have a great opportunity for them. We are one of the best sellers of Vestiaire Collective. I must have a very good understanding of both Houlux and their policies. There are also smaller businesses that offer this type of Depot-Vente service which I must find. Explication from Goli about Tax functions: 1.When we sell to countries outside the EU, for example the US, we can avoid taxes on the merchandise. But the customer must pay for the customs (We must be smart about pricing so that the client also gets a fair price in total). Which in total is beneficial for us. 2.When we sell merchandise bought in the EU and sold in EU, we must pay TVA of around 20% on the profit we make from the sale (example: Buy: 18000 sell: 20000 TVA: 400) 3.If we import a merchandise, and sell it in the EU, we must pay a TVA of around 20% but on the total price of the sale. (example: Buy: 18000 Sell: 20000 TVA: 4000) 4.If we buy a merchandise from outside the EU and sell it outside the EU, we still don’t pay taxes. Pricing: our lowest price is the one mentioned on our website, which leaves us with between 5 to 10% negotiation margin. The price on Vestiaire is the same because of our contract but they have some extra charges for the client. We always must have competitive pricing. For example, if Vestiare is having a campaign for Mother’s Day. We also must have promotion. Consignment rates: Our commission is between 15 to 25%. There are two types of consignments: one is when the article is posted by the seller, which will personally take care of the photography and retouches. The second is when the company (for example us) takes charge of all the process, photography and spa and posting. Where we must also take into consideration the stocking and insurance charges. We also have a policy of having the right to keep the bag for the minimum period of 90 days to have the time to sell it. After this time the seller can demand to have the article back. For B2B business: there is a very dangerous scenario: if a brand or a person wants to resell our merchandise without mentioning our name: this can only be possible with a deep research on that company through meetings and reviews, for example we are negotiating with Saclab to have a collaboration, through which we can have access to their inventory and they can have access to ours. This way we can ensure that the client is going to be able to find what they want. Another important factor is if the client comes across the same product and description on two different websites, it can raise paranoia considering the authenticity of the product. If that other reseller, is a smaller company and want to resell our product with mentioning our name, we can come up with a more reasonable price for them. For example, 20% less than the price listed on our website. Both approaches are very relative to the Volume, Price, and mutual benefit of the collaboration for brands. Any questions that I have I can Ask the team. Our strength points: Authentication, by Jerome Lalang, an expert who is verified by court d’apple. Condition of the products, either never worn, or excellent or very good condition. Renovation, we have authentic renovation, that our spa is run by a craftsman who worked in the Spa of Hermes for 17 years. His materials, stitches, threads, and all the techniques he uses are authentic, the way that if you take the bag to the spa of Hermes after our renovations, they will still accept it. Which is a very important point. Our clients can ask for spa treatment after the purchase, but they will have to pay the charges. Pricing, we have a big network for buying our merchandise, thus we can have very competitive prices. In a way that someone can easily buy pieces from us and resell them with a good margin. Our network should never be shared. Customer service, our partners can count on our availability and engagement. Sometimes my colleagues answer the inquiries in 11 pm. To make sure that every need is taken into account as soon as possible. Reputation is also a very important factor for us which has been established over the years. And we will make sure it will live up to expectations. Considering Volume. We validate someone as a reseller when they buy from us in a big quantity: minimum 10 bags. Or in price range of 30 to 40k. that can be 3 exotic bags or 10 Chanel wallets, sometimes if they want to do a trial with even 3 Chanel wallets, we can still give them a personalized offer.