Prices to remain stable until the end of 2010!
promodoro® has no immediate plans to increase its prices
Commodity and financial markets are currently highly volatile and the production costs of textiles have risen. This is forcing the textile industry to already adjust their prices this year in line with the new world market conditions.
Not promodoro® though: The Düsseldorf-based company has pledged to keep its prices stable until the end of the year. "It's our way of saying thanks to all our customers for their long-standing good working relationship with us. That's why we currently have no plans to follow others in the sector and increase our prices," says Frank Ringleb, Managing Director of the promotional wear specialists. The company also wants to offer its customers costing certainty in the second half of the financial year. "We want our customers to know that not only can they count on us when it comes to quality and service, but we are also committed to helping them achieve high turnover, which is also in our interests. Introducing price increases in the middle of the year wouldn't necessarily help anyone; even if external circumstances dictate that such increases are necessary," believes Ringleb.
After all, prices for cotton are at a record high, freight and transport costs have also risen and the euro is fluctuating. This is why, as of 1 July 2010, many other textile companies are expected to increase their prices significantly. promodoro®, though, wants to cover these higher costs itself for its customers until the end of the year. "Planning reliability is key to reliable co-operation," explains Frank Ringleb: "By postponing any price increases until the end of the year, we want to give our customers the chance to prepare themselves for an increase in costs with regard to their cost-accounting and planning activities." It is likely though that as of 2011, the Düsseldorf-based manufacturer of promotional and sportswear will also not be able to hold off increasing its prices any longer.
