Price Increase Notification
July 1, 2019
Dear Valued Partner,
As many of you are aware, on May 10, 2019, the United States Government raised tariffs an additional 15% on Chinese imports, from the 10% imposed in September 2018 to a total tariff rate increase of 25%. In addition, on June 5, 2019, the U.S. withdrew special duty benefits from India under the Generalized System of Preferences (GSP) for developing nations, effectively reinstating a 5% tariff on products imported from India. A small, but not insignificant, portion of our components are supplied from China. However, the majority of our product components are supplied from our factory in India.
To offset the increased costs associated with U.S. Government imposed taxes on imports from India and China, we are forced to increase our prices. It is important that our customers understand this is not a line item increase initiated by Grandeur Hardware. Due to the nature of our customer base, which includes eCommerce and Brick and Mortar customers, the only mechanism we have to address these tax increases is to increase prices. We will be implementing a price increase on Grandeur Hardware products effective August 1, 2019. The effective blended price increase is 3.7%, although the percentage varies across product categories.
Please click the links below to view and download our updated Grandeur Hardware “Cheat Sheets” with the adjusted pricing. In addition, we will send a PDF of the Grandeur Hardware Price Books with updated pricing by August 1, 2019. If you have questions, please reach out to Customer Service atorders@nostalgicwarehouse.com.
Should the tariffs on imports from China be rescinded to previous levels and/or GSP benefits be reinstated for Indian imports, Grandeur Hardware will, in kind, adjust prices to account for the reduction in costs and, if completely removed, revert to the prices effective on June 30, 2019. Any price reduction will occur within 75 days of the tariff rescission and/or GSP reinstatement.
Thank you for your continued support of Nostalgic Warehouse and Grandeur Hardware. We will strive to continue to provide you with the high quality, luxury, and period correct decorative hardware for which Nostalgic Warehouse and Grandeur Hardware are renowned. We appreciate your partnership and look forward to continued success in our relationship.
joneall@grandeurhardware.com
www.grandeurhardware.com
Door Hardware Pricing Cheat Sheet
Brass Hinges Pricing Cheat Sheet
Speak Your Mind