Glossary: discover the key terms of our world
Explore our comprehensive glossary and immerse yourself in the world of our field. See our clear, concise definitions of key terms, enabling you to navigate our industry with confidence.
Aa
Accounts receivable management
All the processes and activities involved in managing a company's accounts receivable. This includes invoicing, payment follow- up and late payment management, communication with customers for payment reminders, and all other activities related to effective accounts receivable management.
Affordable luxury
High-quality products or services associated with high standards of design, craftsmanship and service, while remaining relatively accessible in terms of price compared with traditional luxury brands.
Audit
Procedure that certifies a company's accounts to ensure that they comply with tax returns. It is carried out by an auditor who checks their accuracy before certifying them. At the end of this operation, the auditor will be in a position to pass judgment on the soundness of the company's finances and the regularity of its management.
Avatax
Sales tax software that helps companies stay compliant with ever-changing tax laws. It automates sales tax-related tasks such as calculating the appropriate tax rates, determining the applicable tax on products or services, and generating the necessary tax returns.
Bb
Benchmark
Marketing technique based on the comparative analysis of the performance, practices and results of an organization, product or service in relation to those of other organizations or industry benchmarks.
BPI France
Banque Publique d'Investissement (French public investment bank), whose mission is to finance and develop French companies, particularly small and medium-sized enterprises (SMEs) and intermediate-sized companies (ETIs). BPI's main missions are granting loans and guarantees, capital investment, supporting innovation, facilitating exports, providing support and advice, and promoting entrepreneurship.
BtoB
Sale of products or services by one company to another. In the fashion industry, a brand's BtoB customers may be wholesalers.
BtoC
Sale of products or services by one company directly to end consumers.
Business license
This refers to a legal authorization issued by a competent authority, usually the government, allowing a company or individual to carry out specific business activities in a given jurisdiction.
Business plan
Detailed document describing a company's objectives, the strategies for achieving them, and the financial and operational resources needed to implement them. The main steps in drawing up a business plan are the executive summary, company description, market analysis, products/services, marketing and sales strategy, company structure and organization, operational plan, financial plan and risk analysis.
Cc
Customs optimization
This practice refers to a strategy aimed at maximizing the efficiency of customs procedures. The aim is to optimize costs, speed up the passage of goods across borders and ensure effective compliance with customs regulations.
Dd
Department store
A type of retail store offering a wide range of products divided into several distinct departments (e.g. Harrods, Macy's). The French equivalent is Galeries Lafayette.
Duties and taxes
Duties and taxes in the logistics sector can be divided into two distinct categories: • Import and export duties: These charges are imposed by governments on goods crossing borders. Rates vary according to product and country. • Local and regional taxes: In addition to customs duties, companies may be subject to local and regional taxes, such as value-added tax (VAT) or zone-specific taxes.
Duty drawback
Regulations that allow a company to obtain a full or partial refund of the customs duties it has paid on imported goods if these goods are subsequently re- exported. The aim is to encourage exports and make domestic products more competitive on the international market.
Ff
First Sale Rule
Provision allowing an importer located in the United States to reduce the amount of tariffs on the foreign goods it imports. Under the First Sale Rule, only the first sale price is taken into account when calculating customs duties.
Foreign Importer
When a company has no entity or presence in the United States and wishes to import goods there, then it must establish itself as a Foreign Importer of Record.
Franchise
A franchise is a business model in which one company (the franchisor) grants another person or company (the franchisee) the right to use its brands, products, services, business processes and other intellectual property, usually in exchange for royalties or initial fees.
French consolidation
Refers to the management and monitoring of financial and operational relationships between a parent company and its subsidiaries, while complying with French accounting standards and consolidation rules.
Hh
Health Benefits
Health Benefits refer to benefits provided by employers to support the health and well-being of their employees. These benefits can vary according to company policies, local legislation and the specific needs of employees.
HS Codes
Each imported or exported product has a multi-digit number assigned to it for customs purposes worldwide. This code helps to uniformly identify goods when they are imported or exported. HS codes are essential for determining customs duties, trade regulations and international trade statistics.
Kk
KPI (Key Performance Indicator) measurement
Quantified measure enabling an action to be measured and its results evaluated.
Ll
Lead time
Refers to the total time required to execute all logistics processes, from initial order to final delivery. It covers all stages, from planning to production, storage, transport and distribution.
Local implementation
The interactive process of working with local partners such as distributors, suppliers, agents or investors when a company wishes to establish itself in a new market.
Nn
Nexus
Refers to the fact that a foreign company established in the United States is subject to tax regulations when a certain threshold of transactions or sales is reached. It is then obliged to collect different taxes depending on the state in which it is located.
Pp
Payroll service provider
External service enabling a company's payroll processing and tax and social security obligations to be managed by a payroll expert.
Profit margin
A financial indicator that measures a company's profitability by expressing net income as a percentage of sales. It is an essential ratio to assess a company's financial performance and its ability to generate profits in relation to its revenues.
Rr
Retail
The sale of products by a brand to its end consumers. Retail outlets sell only a brand's products (showroom, pop-up store).
Reverse logistics
It involves managing all the physical and information flows required to return a product from the customer to the supplier/warehouse. It includes quality control, repairs, repackaging, recycling and excess inventory management.
Ss
Sales forces
All the people who contribute to the sale of a brand's products or services. Their main aim is to increase the organization's sales and profits by bringing in new customers and improving the loyalty of existing ones.
Sales tax
A type of indirect tax that consumers pay when purchasing goods and services. Unlike VAT (value-added tax), which is common in many countries, sales tax is generally applied at the state or local government level in the United States.
Tt
Transfer pricing
Transaction prices at which a company transfers tangible goods, intangible assets or renders services to entities belonging to the same group and resident in different countries. They involve inter-group transactions and border crossings.
Ww
Wholesale
Sale of a textile brand's products through various vendors, multi-brand retailers, outlets or corners (e.g. Asos, Galeries Lafayette).
Wholesale agent
Agent in charge of presenting collections, negotiating and/or concluding sales contracts on behalf of third parties. He also welcomes customers to his showroom.
