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Chinese Container Cult


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spygirl

I'm still coming across more n more large, new businesses that are nothing more than front ends for flogging stuff shipped in from China.

This works-

https://kbbfocus.com/news/540-interview-how-lusso-stone-is-growing-fast-by-breaking-the-mould

https://www.linkedin.com/company/lusso-stone

HQ Knightsbridge .. it's a big shed in boro.

https://www.mirror.co.uk/money/man-who-took-out-10k-24736283

https://www.ws-invest.co.uk/

The growth n the revenue are real.

However ...

I wonder if the full import duties are being paid .... how long the low liw prices will last .... if they are running out of stock ....

 

 

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Frank Hovis

I knew someone in the 90s who was auditing SMEs in East Anglia.

He said that almost all of them were simply importing and reselling Chinese made goods.

A nation of shopkeepers becomes a nation of front of house for the Chinese.

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spygirl
26 minutes ago, Frank Hovis said:

I knew someone in the 90s who was auditing SMEs in East Anglia.

He said that almost all of them were simply importing and reselling Chinese made goods.

A nation of shopkeepers becomes a nation of front of house for the Chinese.

I started this as I was talking to someone a few weeks ago.

They were going - Oh my sons doing well in business.

When I went home and googled, it was basciallt selling bamboo shit.

As far as I cold work out, the business was literally just shipping stuff in, packaging it, posting it.

Business is business, as long as it makes money.

However, There was little value add. And with the lunacy in CHina and rapidly icnreasing wage cost, I dont its viabe.

Wayne cropped up in the papers this week - 

https://www.gazettelive.co.uk/news/teesside-news/lussos-plush-new-stockton-office-23859250

Give you an idea about how fast revenue is ramping up - 

https://suite.endole.co.uk/insight/company/08679111-lusso-stone-ltd

Now how much is profit ....

https://luxe-magazine.co.uk/2019/11/luxe-life-wayne-spriggs/

Living the high life ........

 

 

And low life ....

https://www.dailymail.co.uk/news/article-5329099/Company-director-42-used-car-mow-former-friend.html

 

 

 

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reformed nice guy
Just now, spygirl said:

There was little value add.

A lot of it is currency and wage arbitrage.

Cruises are similar - if it wasnt for the slave wages and tax dodges then ordinary people wouldnt be able to afford to go on cruises. I read that the Asian staff usually average £2 per hour including tips

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Frank Hovis
1 minute ago, spygirl said:

I started this as I was talking to someone a few weeks ago.

They were going - Oh my sons doing well in business.

When I went home and googled, it was basciallt selling bamboo shit.

As far as I cold work out, the business was literally just shipping stuff in, packaging it, posting it.

Business is business, as long as it makes money.

However, There was little value add. And with the lunacy in CHina and rapidly icnreasing wage cost, I dont its viabe.

Wayne cropped up in the papers this week - 

https://www.gazettelive.co.uk/news/teesside-news/lussos-plush-new-stockton-office-23859250

Give you an idea about how fast revenue is ramping up - 

https://suite.endole.co.uk/insight/company/08679111-lusso-stone-ltd

Now how much is profit ....

https://luxe-magazine.co.uk/2019/11/luxe-life-wayne-spriggs/

Living the high life ........

 

 

And low life ....

https://www.dailymail.co.uk/news/article-5329099/Company-director-42-used-car-mow-former-friend.html

 

 

 

 

My mother was very impressed by how the son of one of her friends, fifties, never worked, long time drug user with convictions, lived most of his life in a caravan in the middle of nowhere on a run down site filled with similar people, was buying jewellery or similar from China and reselling at a profit.

It shows that anyone can turn their life around and become a success. Apparently he is the new Alan Sugar.

My mother hasn't heard of eBay.

I said "That's good."

He still lives in the caravan on the site in the middle of nowhere.

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TBF they have done £8.5m PBT on £20m of turnover, that's impressive even if a one-off. Tax dodgers or no they have managed to market themselves to get people to pay huge markups on fairly commoditised stuff.

The odd thing is why court publicity? The downsides of such is that it may cause the authorities to have a closer look, and also potential competitors can also see the margins. The barriers to entry are pretty modest really. It almost seems to good to be true.

To me I think the only explanation is to be looking for an out - best time to sell the company is when profits are ultra high because the gullible investors may think they are somehow sustainable.

Several publicly traded companies did the same thing. The car competition website Best of the Best somehow was valued in excess of £300m at the peak. Of course that peak was when people were locked in at home and there were no sports events to bet on. This is a business that is projected to make just £3.8m profit this year. 

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spygirl
29 minutes ago, Boon said:

TBF they have done £8.5m PBT on £20m of turnover, that's impressive even if a one-off. Tax dodgers or no they have managed to market themselves to get people to pay huge markups on fairly commoditised stuff.

The odd thing is why court publicity? The downsides of such is that it may cause the authorities to have a closer look, and also potential competitors can also see the margins. The barriers to entry are pretty modest really. It almost seems to good to be true.

To me I think the only explanation is to be looking for an out - best time to sell the company is when profits are ultra high because the gullible investors may think they are somehow sustainable.

Several publicly traded companies did the same thing. The car competition website Best of the Best somehow was valued in excess of £300m at the peak. Of course that peak was when people were locked in at home and there were no sports events to bet on. This is a business that is projected to make just £3.8m profit this year. 

Hes now on my watch list.

 

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Uncle Buck Rogers
6 hours ago, spygirl said:

I'm still coming across more n more large, new businesses that are nothing more than front ends for flogging stuff shipped in from China.

This works-

https://kbbfocus.com/news/540-interview-how-lusso-stone-is-growing-fast-by-breaking-the-mould

https://www.linkedin.com/company/lusso-stone

HQ Knightsbridge .. it's a big shed in boro.

https://www.mirror.co.uk/money/man-who-took-out-10k-24736283

https://www.ws-invest.co.uk/

The growth n the revenue are real.

However ...

I wonder if the full import duties are being paid .... how long the low liw prices will last .... if they are running out of stock ....

 

 

The name Lusso is ringing bells. Ordered furniture from ManoMano and both the online delivery updates and the invoice and label on the package said Lusso when there was zero mention of it on the product page when i bought it.

Unsurprisingly, customs (at both ends) seemed to have ripped the packaging to shreds and had a good sniff around the contents.

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House of dying flaggers

I did a landscaping jobfor a young guy with a business like this. Didn’t even look at the price just told me to get on with it and make it amazing. Was making about £500k a year profit on £2.5m turnover. Used agency staff for picking/packing so he didn’t have HR hassles….did the listing stuff himself….worked 7.30 - 3pm five days a week.
 

His Chinese contacts basically sent him a container of whatever was deemed to be “hot” but was basically junk….dog nail clippers, fancy dress wigs, little gizmos. 

He told me he’d got started when he worked at McDonald’s and instead of throwing away Happy Meal toys at the end of the promotion he’d take them home and list them on eBay. Then he’d got into selling snide electricals he was buying in Cheetham Hill and then a Chinese shipping agent has got in touch and said he could have a container on 60 days credit. 

He was dumb as a box of rocks but had stumbled into an easy and lucrative business. 

He’d overpaid a developer for some shitty houses he was going to let out. A poorly built new build estate and they’d given him £5k discount off 3 houses…..I asked him what percentage yield he was going to get and he said 100%  because he owned them and they weren’t mortgaged. 🙄🤦‍♂️

 

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Bilbo

Had a look on Marine traffic last night. Not many container ships in Felixstowe, London Gateway or Southampton. Difficult doing any business if you have no products. 

44 minutes ago, House of dying flaggers said:

I did a landscaping jobfor a young guy with a business like this. Didn’t even look at the price just told me to get on with it and make it amazing. Was making about £500k a year profit on £2.5m turnover. 

🙄🤦‍♂️

When I was employed as a traveling salesman I was told be very careful if they ordered something and didn't care about the price. Usually ment that they didn't care as they were never ever going to pay. Unfortunately I managed to find out the hard way once!

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House of dying flaggers
8 hours ago, Bilbo said:

Had a look on Marine traffic last night. Not many container ships in Felixstowe, London Gateway or Southampton. Difficult doing any business if you have no products. 

When I was employed as a traveling salesman I was told be very careful if they ordered something and didn't care about the price. Usually ment that they didn't care as they were never ever going to pay. Unfortunately I managed to find out the hard way once!

Getting paid was never going to be a problem…..we are on the same industrial estate…..not advisable to rob people you’re likely to see every day. 
 

We ended up socialising for a while but he had a penchant for the white powder (so did I while he was buying) and basically being a complete knob around women. Apparently they all “wanted it”……but that wasn’t very apparent to me. 🙄

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Gloommonger

Isn't this the same as Amazon, ebay, aliexpress and most retail shops? Buy it cheap from China, sell it for more here.

I know someone who imports specialised machinery from China with a huge markup for UK customers. He's doesn't know what to do with all his money.

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Axeman123
On 05/05/2022 at 12:03, reformed nice guy said:

Cruises are similar - if it wasnt for the slave wages and tax dodges then ordinary people wouldnt be able to afford to go on cruises. I read that the Asian staff usually average £2 per hour including tips

Surely that is just all mass-tourism. The heyday of package holidays to Spain and Greece for ordinary people was the 1970s, when they were incredibly poor countries. Turkey and thailand didn't become popular with ordinary Joes because of the hospitality or scenery, but because money went a hell of a long way. (Even the "other" appeal of Thailand is largely about cheap labour, and apparently most of that tourism is switching to cheaper Vietnam as Thailand develops). Anyone that has ever looked at holidaying in the UK will know how little holiday ordinary people will be able to afford without cheap air-travel to exploit cheap labour.

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spygirl
On 06/05/2022 at 19:59, Gloommonger said:

Isn't this the same as Amazon, ebay, aliexpress and most retail shops? Buy it cheap from China, sell it for more here.

I know someone who imports specialised machinery from China with a huge markup for UK customers. He's doesn't know what to do with all his money.

No its changed.

Few years ago it was Chinks resident in UK doing it.

Big VAT crackdown so they are using natives. Still not paying vat I'd guess.

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spygirl
On 06/05/2022 at 21:48, Axeman123 said:

Surely that is just all mass-tourism. The heyday of package holidays to Spain and Greece for ordinary people was the 1970s, when they were incredibly poor countries. Turkey and thailand didn't become popular with ordinary Joes because of the hospitality or scenery, but because money went a hell of a long way. (Even the "other" appeal of Thailand is largely about cheap labour, and apparently most of that tourism is switching to cheaper Vietnam as Thailand develops). Anyone that has ever looked at holidaying in the UK will know how little holiday ordinary people will be able to afford without cheap air-travel to exploit cheap labour.

Sort of.

Its driven by how much the flight costs.

Until RyanAir, air transport was pricey.

Once the bucket flights cottoned on, the far away holidays became a thing.

Iirc Turkey wasnt a destination til the 80s.

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