Price Raises for all Iron Heart - May 2024
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As well as production costs, our (IH International) costs are also on the rise. Rent is increasing, utilities are increasing and in the interest of trying to be a fair employer, staff salaries have all been increasing quite sharply recently too, to help the guys combat inflation and increased cost of living.
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@Alex thanks for the kinds words! But if we look back at brexshit then retailers must feel much worse(i keep ot neat) especially in the long run.. it’s not only the product what i pay for but also the service!
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@PJ said in Price Raises for all Iron Heart - May 2024:
I could be wrong but I don’t think your segment of customers are that price sensitive.
Cheers
I think you are probably correct, but that does not mean we feel any better about putting prices up!
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@PJ thats very true. Not like an increase of £15 on an already £300 pair of jeans is gonna dissuade me. Also, I expect my employer to give me a pay to rise at least in line with inflation. It would be unreasonable to expect the businesses I support to not also do the same for their employees, and in fact I want to support businesses that DO make these tough choices rather than shaft their suppliers and staff. If the end result = marginal price increases for me, then so be it .
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@Alex and marges won’t get any bigger in your advance is my guess
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@Alex Thanks for sharing that with us! I work for one of the biggest retailers in Europe and we have the same issues and did not just increase the prices but also the payment for all employees. I am impressed that you also adressed this because it's one of the major things people have to deal with these times. Also I am happy to be able to afford a couple of nice pieces from time to time and am willing to pay for you guys being around for bringing all the good stuff to us
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So you're basically saying there's a global IH sale for the next 5 days?
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@Alex said in Price Raises for all Iron Heart - May 2024:
Until then, you have a 5% ‘sale’ for the rest of the week if you’re on the edge of a purchase.
Pretty much
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Transparency of IH is amazing and thanks for sharing @Alex. Very much appreciated to be this open and honest with us guys
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@Alex The loyalty vouchers are much appreciated, especially when prices (inevitably) increase.
If I purchase fewer IH items in the future, it’ll be because I have a bunch of it already and my closet has limited space.
It won’t be because of the price increase, which is dwarfed by the price increases at my local grocery store over the past couple of years. We all understand that Japan is facing serious economic challenges right now and it’s nice to support a Japanese business that means a lot to all of us. We’re also thankful to be in a position to do so. -
Late to the party, but thanks for sharing @Alex.
Incidentally, I was watching something the other day about the Japanese economy. Well worth a watch, particularly for anyone interested in macroeconomics.
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Id expect another one of these updates soon.
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@CosmoSix5 interested in your theory on why?
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@jfk1117 said in Price Raises for all Iron Heart - May 2024:
@CosmoSix5 interested in your theory on why?
Hey! I study currencies and economics as a hobby. As well as biblical study. Two weeks ago the yen hit another horrible milestone.
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Hmmm, I thought things were looking up? Of course, I’m not an economist (but I am great at turning my income into denim)
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@Buckeye yea I don’t think I’m feeling out what he’s putting out. Only thing hurting IH pricing is that they are buying American cotton. However seeing the prices in Japan, unless the yen gets way stronger, I don’t believe there is any validity to what he is saying. The Japanese government has to decide on a stronger yen or their economy in the short term. They tried to have both two weeks ago and their market plunged by 12%. They are stuck in a very difficult place. If American rates really come down, then lots of the yen weakness may unravel itself
