Price Increase Now in Effect
August 1, 2019
Dear Valued Partner,
As we announced on July 1, 2019, Nostalgic Warehouse is implementing a price increase effective today, August 1, 2019. This price increase is a direct reaction to the increases in our costs resulting from increased tariffs on products from China (effective May 5, 2019) and, more significantly, the rescission of the General System of Preferences status (GSP) for products manufactured in India (effective June 4, 2019), the location of our primary factory. The Chinese tariff increase affects our costs on critical components of our lock sets and hardware. Rescinding the GSP status for products manufactured in India has created an immediate across the board increase in the cost of our brass products—the majority of the composition of our door hardware products. Nostalgic Warehouse’s only mechanism to overcome this cost increase is to implement the previously announced price increase.
Should the tariffs on imports from China be rescinded to previous levels and/or GSP benefits be reinstated for Indian imports, Nostalgic Warehouse will, in kind, adjust prices to account for the reduction in costs and, if completely removed and/or reinstated, revert to the prices effective on July 31, 2019. The price reduction will occur within 75 days of the tariff rescission and/or GSP reinstatement.
Thank you for your continued support of Nostalgic Warehouse. We will strive to continue to provide you with the high quality, period-correct decorative hardware for which Nostalgic Warehouse is renowned. We appreciate your partnership and look forward to continued success in our relationship.
joneall@nostalgicwarehouse.com
www.NostalgicWarehouse.com
Speak Your Mind