Tariff Increases and what that means for LARA
Posted on 13 September 2018
As you may have heard the US Government has enacted increased tariffs for a variety of products coming from overseas but mostly China. Given the current political climate, it is difficult to gauge if the tariffs will fluctuate even more in the near future. However, one thing for certain is that clothing has been impacted by the increasing tariffs.
Here at LARA, we are doing our best to keep prices competitive for the retail market and trying to find creative solutions to decrease the impact of the increased tariffs. Some solutions include consolidating our import orders and receiving one large shipment from multiple factories instead of individual shipments, manufacturing larger quantities at a time to reduce costs and also finding new channels for manufacturing.
However, even with all strategies being implemented there will be some items where we will have to increase our prices in order to continue providing them to our retailers. Unfortunately, many of the products that will be impacted are our best selling basics. Throughout this process, we want to be as transparent as possible as to which products will see price increases and keep you in the loop so you can better prepare as well.
To be as transparent as possible, we are now adding "Price Increase" notices on all the products that will see price increases. All price increases will take effect January 1st 2019 - so you have still got time :) Please see a example of the notice on the product description below:
A estimated new price will be posted in the product description so that you have an idea of what to expect to pay starting January 1st 2019.
We hope this transparency will help our retailers better prepare and plan for the increasing tariffs.
If you have any questions, please feel free to contact us at firstname.lastname@example.org
For more information about the tariffs, please visit: