On September 12, 2018, LEDVANCE sent the following letter to its customers:
Dear Valued Customer:
Per previous communications, LEDVANCE will be moving forward with a price increase on October 1 due to inflationary pressures which have resulted in increased operational costs. This increase will be inclusive of these inflationary pressures as well as the Tariff Phase 1 that went into effect July 6:
- Tariff Phase 1 price increase: 2% to 7% (please reference August 13 letter for details)
- Inflationary price increase: 5% to 10% on select Traditional and LED product types
To reduce administrative burden, our intention is to issue one price increase effective October 1 to cover the impacted products and components for both the inflationary pressures and Phase 1 of the tariff increase.
We will continue to monitor the situation regarding additionally proposed tariffs and the specific impact on our products. If additional tariffs go into effect, we anticipate a corresponding price increase.
We appreciate your partnership and look forward to providing quality SYLVANIA general lighting products to you and your customers. If you have any questions, please do not hesitate to contact your LEDVANCE representative.
Sincerely,
Matt McCarron, VP Industrial/Commercial Sales
Jim Sanford, VP Retail Sales
Tagged with LEDVANCE, pricing, tariffs