Industry News

SVP WORLDWIDE to increase prices globally on its SINGER®, HUSQVARNA VIKING® & PFAFF® product portfolio

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 five to 10 percent on lower-priced products and between three to five percent 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 delivering outstanding value and quality to its customers, dedicated partners and loyal sewers.”

Price increases will be implemented effective January 1, 2009.

Reprinted from SQE Professional, December 2008