NEW YORK—As costs of materials and labor increase, the situation is forcing some companies, including Nasstoys, to slightly raise their prices.
In a letter to clients, company President Elliot Schwartz noted that the price increase is a necessity.
“As you may know, with the appreciation of the RMB currency, the rise in production and the Chinese Government's labor cost, we are reluctantly forced to raise our prices by 5 to 10 [percent] as of Oct. 1, 2010; failing to do so, will only bring about great losses for us,” the letter reads. “Our first goal is to please our customers. Indeed, however we will not be able to serve you if our business incurs losses. We are confident, nonetheless, that you will find the quality of our products to be as always excellent and competitive in light of these new prices.”
Customers who want to save money on their best-selling Nasstoys products are encouraged to place orders and stock up before Oct. 1, 2010.
For more information, visit Nasstoys.com.
