China: sports footwear manufacturers to raise sale price by 10%
The continuing growth in prices of petroleum, rubber and cotton, combined with increasing labour costs, is pressing sports footwear producers in China to increase their sale prices, according to the China Leather Industry Association (CLIA). The increase may range from 5% to 10%.
Chinese sports brands Anta and 361 Degrees pointed to their recent released fiscal reports as evidence that raising prices is an inevitable trend. Industrial experts in Sichuan province told local media that costs of footwear production would increase by 10% as a result of the increasing costs of raw materials.
Anta said on its financial report that it had raised its sale prices by 4% for shoes and 8.8% for apparel in 2010, and an increase of 10% is expected for 2011 to cope with growing production costs.
Other sports brands including Xtep and Peak have also expressed an intention to raise sale prices in 2011.
