Factors causing price increases in the sanitary ware industry

The price increase behavior of sanitary ware companies is mainly initiated by foreign companies, especially Japanese companies. Recently, another Japanese sanitary ware company announced an increase in product prices, an increase of about 10%. In addition, the recent escalation of the situation in the Red Sea has led to disruptions in global shipping. Analysts indicate that it may push up shipping prices and impact the supply chain, raising production costs for companies, which will then be passed on to consumers.

On January 9, Japanese sanitary ware company KVK announced that it would increase the recommended retail price of some products starting from April 1, 2024. KVK said that although the company has reduced the impact of rising raw material prices by improving production efficiency and other methods, raw material prices still remain high, resulting in an increase in the cost of purchasing components. The company itself is tired of coping, so it made the decision to increase prices. . The scope of this price increase is mainly for some mixing faucets, single-handle faucets and components. The average price increase is about 10%. Orders from April 1, 2024 will be executed according to the new price.

It is understood that KVK has raised commodity prices several times in the past two years. The most recent price increase was in October 2023, when the increase was between 3% and 25%. The reason was that raw material prices and logistics costs increased; and earlier in October 2022, KVK also conducted a price increase on all its products. Price adjustment ranges from 5-20%.

In fact, in addition to KVK, the latest price increase of another well-known Japanese company was also implemented in April. The company will increase the recommended retail price of some products starting from April 1, 2024, involving ceramic toilets, smart toilets, integrated bathrooms, bathtubs, ceramic tiles, cabinets, washbasins and other products. The average price increase ranges from 2% to 75 %, among which some parts of the overall bathroom increased by as much as 240%.

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