US leathergoods brand Saddleback is reducing its prices, reflecting falling costs of leather, hardware, thread and transport.

Founder Dave Munson said he started the brand to get “high-quality leather bags into the hands of regular people at an approachable price”, and falling outgoings meant he can now drop prices to 2018 levels.

He added: “Greed is a killer and if big corporations make lower profit for the quarter, then executives lose their bonuses. It’s a shame. 

“If you are a  business owner or if you have influence within a business and your costs have also dropped, then please join us and lower your prices too.”

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