Hooker Furniture puts prices up as leather costs rise
06/06/2013
At a recent press conference, the group’s president for upholstery, Michael Delgatti, said a price increase would come into effect before the end of this month at its Bradington-Young division, which specialises in high-end furniture, made in the US using high-quality leather from Italy and other origins.
This move comes on the back of a 7.4% increase in sales at Bradington-Young in the first quarter of this year.
“We’re gratified with the good increase in shipments and orders at Bradington-Young,” Mr Delgatti said. “Our concern for Bradington-Young is the rising cost of raw materials, particularly leather, and the potential this has to impact sales. We plan to implement a price increase effective this month.”
He went on to say that the rising cost of leather is even more of a challenge for Hooker’s imported leather furniture division, Seven Seas, because its products are positioned as more affordable and are in what he called “a more price-sensitive niche”.
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