Birkenstock Responds to U.S. Tariff with Global Price Hike
German sandal maker Birkenstock plans to raise prices globally to counteract the impact of the U.S. imposing a 10% tariff on EU-made goods. CFO Ivica Krolo announced the price hike as a comprehensive global measure rather than targeting specific regions.
- Country:
- United Kingdom
German sandal maker Birkenstock is set to increase its prices worldwide, aiming to counterbalance the effects of a 10% tariff imposed by the United States on goods manufactured in the European Union.
According to Chief Financial Officer Ivica Krolo, the company plans to implement these price changes globally, rather than focusing on specific markets. "We will be fully offsetting the effects from current existing tariffs," Krolo said during an interview with Reuters, emphasizing the move as a global strategy.
This decisive step comes as a response to the ongoing trade tensions, showcasing Birkenstock's proactive approach to maintaining financial stability amid international economic challenges.
(With inputs from agencies.)
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