you need to add to that price:
- import duty
- anti dumping duty
- anti subsidy duty (countervailing duty)
- VAT
- guarantee
- support
- delivery
- preparation
- dealers margin
- marketing cost (eg amazon, ebay, FB, google etc)
You need to see that distribution costs are cheap in Europe. From the USD FOB price to GBP retail price, it's mostly taxes, not profit margin.
If you look into the making of an FOB price, there is very little spent on product design and yet, that's the key factor in a sale. People buy the design first and pay for the components next.
I take a Chinese design and change the components to suit British customers.