Dollar-euro parity and VAT refunds created a 35% luxury arbitrage opportunity
Shaan Puri · How Successful Startups Got Their First 1000 Customers (Uber, Product Hunt & More) (#362) · Sep 15, 2022 · at 53:25
Sean Puri explains how currency parity between the dollar and euro, combined with VAT refunds in Europe, created a retail arbitrage opportunity for luxury goods.
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“Cause the dollar and the Euro like got to parody and the luxury stores hadn't changed the prices. So basically like things were always typically priced higher in dollars than in euros. or whatever. So I might get that backwards, but like you, the Louis Vuitton bag, you, if you were in Paris, you could buy it in euros for a certain price. That same bag was selling for more that same day. If you just sold it in us dollars to a us customer and in Paris, you would also get the VAT refund. So you'd get, you'd basically net getting something like 30 to 35% under market. And that was like your spread that you could then go and sell it for in the United States.”
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