by Adjustment falls on heels of recent doubling of tariffs on Vietnam
HIGH POINT — Luxury furniture manufacturer Jonathan Charles recently told its customers that increasing cost pressures are forcing it to double a price increase first announced June 18.
The company said that the previously announced 5% increase set to take effect July 16 will rise to 10%, also effective July 16.
The company said it held off for more than 60 days on the original increase in hopes of there being greater market clarity during a time when tariffs were still being negotiated.
The company produces its product mix in Vietnam, where tariffs had been set at 10% earlier this spring pending negotiations between the two countries. The U.S. announced the rate would be rising to 20% earlier this month. Other country rates were announced Monday.
“We initially announced a 5% price increase to take effect on July 16, 2025, after holding off for over 60 days in hopes of greater market clarity,” wrote Garth Robinson, vice president of sales, in a letter to dealers dated July 3. “During that time, we worked diligently to improve operational efficiencies and identify cost-saving opportunities to minimize the impact on our partners.”
He said that because of “sustained and intensifying cost pressures across our supply chain,” it is now necessary to implement the 10% increase.
“This adjustment is essential to ensure we can continue delivering the quality, reliability and service standards you’ve come to expect from us,” he wrote. “We want to emphasize that all April 2025 product introductions will remain exempt from this increase.
“We recognize that this revision may present additional challenges, and please know this decision was not made lightly. Our commitment remains firmly rooted in supporting your continued success with premium products and dedicated service.”
