Fuerte y Libre Cigars Inc. has announced a price increase for all cigars in its portfolio effective June 1, 2023.
According to Fuerte y Libre, this is the company’s first price increase since launching. The company states that since 2019 the costs associated with cigarmaking, marketing, shipping, and materials have increased by over 15%. In addition, the company said it is currently involved in a Trademark opposition which is adding to its costs.
Fuerte y Libre says that the weighted average of the price increase is 8.1% and will not meet the increase in production costs.
“We will never sacrifice quality in order to shave costs and this increase is to ensure that quality is what we will always be known for,” said President Greg Free in a press release.
The company also says the cash flow from the increased costs will be used to support new projects. Fuerte y Libre says it will add a full-strength blend in the 3rd quarter of 2023. It will also add an Event Exclusive Lonsdale in the months that follow.
Originally posted on May 4, 2023 @ 10:17 am