World’s Largest Sewing Machine Manufacturer—SVP
WORLDWIDE—Plans to Increase Prices Globally
on Its SINGER®, HUSQVARNA VIKING®
and PFAFF® Product Portfolio
HAMILTON, Bermuda (Business Wire EON/PRWEB ) September 29, 2008 --
Today SVP
Worldwide, owner of SINGER®, HUSQVARNA
VIKING®, and PFAFF®
sewing machine brands, announced it will increase prices on a global
basis across the majority of its product portfolio and after sales
products. Price increases will range between 5-10% on lower-priced
products and between 3-5% on higher-priced products. Specifics will vary
on a country-by-country and product-by-product basis.
“SVP Worldwide, like many global
manufacturers, has been hit with significant cost increases ranging from
energy to raw materials, packaging to transportation, and labor to
currency exchange pressures,” said Don
Fletcher, CEO of SVP Worldwide. “These
pressures have reached a point where internal cost and expense control
initiatives can no longer offset these escalating costs.”
Doing business in over 190 countries, the SINGER, HUSQVARNA VIKING and
PFAFF mechanical, computerized, and embroidery machines and after sales
products will experience a price increase.
“SVP Worldwide is proactively working with
suppliers, monitoring the industry, and examining all expenditures to
minimize costs for sewers around the world,”
said Brad Hunsaker, Global Vice President of Sales and Marketing for SVP
Worldwide. “The entire SVP Worldwide family
remains committed to deliver outstanding value and quality to its
customers, dedicated partners and loyal sewers.”
Price increases will be implemented effective January 1, 2009.
About SVP Worldwide®
SVP Worldwide, a global company headquartered in Hamilton, Bermuda and
doing business through its affiliated companies in over 190 countries,
specializes in the design, manufacture and sale of high quality
household sewing machines and related products under the SINGER,
HUSQVARNA VIKING, and PFAFF brand names. For more information about the
Company and the company’s brands view the
following websites: www.svpworldwide.com,
www.singer.com,
www.husqvarnaviking.com,
www.pfaff.com,
www.myembroideries.com,
and www.sewingideas.com.
See the original story at: http://eon.businesswire.com/releases/svp_worldwide/sewing_machine/prweb1403534.htm
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