To Our Valued Partners & Customers,
On January 8, 2021, CFGroup will implement a 2% price increase for our brand Thonet. The increase will affect all products and is in line with the forecasted inflation rate across the US market.
We understand the sensitivity of any price increase, no matter how modest, and we will continue to make every effort to reduce costs despite underlying price inflation in raw materials. For example some materials such as lumber ( raw material prices up 36% year to date), iron ore ( raw material prices up 29% year to date) and aluminum ( prices up 2% year to date) are driven by supply and demand, complicated to some extent by tariffs, while others are associated with our efforts to reshore and diversify our supply chain.The combined impact of all these pressures cannot be mitigated by our cost reduction efforts or the small number of commodity offsets, therefore it is essential that we announce this modest increase.
The price increase imposed affects our pricing tool on January 8, 2021.
Thank you in advance for your support.