In its second-largest acquisition, Amazon buys the company for $970 million.
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Figleaves.com has developed proprietary warehouse management software that allows the company to convert its sale prices to individual country currencies. And unlike most other merchants who lean on service firms to calculate guaranteed landed costs, Figleaves.com handles that on its own as well. “Factoring in all the duties, taxes, tariffs, etc., you need expert advice,” Bussey says. “But it so happens that our products are very lightweight and compact. And with our good relationships with the USPS, FedEx and Royal Mail, we can ship very cost-effectively.”
But even Bussey, who has figured out how Figleaves.com can handle the complexities of cross-border shopping, cautions: “That whole area is an absolute minefield.”
Paul Miller is a Somers, N.Y.-based freelance business writer