LOUIS VUITTON PRINTMAKER HAS SAID IT WILL NOT PAY FOR PRINTING COSTS TO QUALITY IN THE PRINT MARKET AND THAT IT WILL MAKE UP THE ROLE OF PRINT MACHINES FOR OTHER COMPANIES IN THE MARKET.
“We will not be paying a premium for the printing of print products,” Vuitton PRINT MAKER Giorgio Dini said in a statement to Business Insider.
“Print is not our priority and will not change this strategy.”
Dini’s comments follow a series of high-profile complaints about the cost of print.
In May, the European Union said that printing costs were rising in Europe as printmakers sought to compete with cheaper products.
In response, Dini’s office said that “the pricing of printing has been steadily increasing since 2009 and the industry is growing, so it is clear that the printing industry is in need of a price structure.”
However, it added that the “quality of the product” is a priority for Vuitton, and it is “working with other companies in the printing market to reduce costs and raise quality.”
It is not clear why Dini decided to take the step, as his statements are vague.
The company did not immediately respond to a request for comment.
Dini previously stated that his company would not be able to compete against cheaper printers, and that it would not “pay for print prices.”DINI ALSO DISCLAIMS THAT IT HAS THE RIGHT TO OFFER PRICE REDUCTIONS IN IT’S PRODUCTS, IF THE RATES INCREASE “HOTLY.”DILI’S PRICE RATE RATIO DISCLAIMER”The price reduction that we propose to offer you may not be as strong as it would be if you had the option to buy the printer at the same time that we offer it at our retail store,” the statement reads.
“But this option does not exclude our right to offer discounts and other price reductions.”
It’s unclear what the impact of this pricing reduction would be for print manufacturers.
However, if printing prices are rising, the companies’ costs could rise as well.DINO STORE AND OTHER STORE PARTNERS CLAIMED THEY WERE LOSSES OF BUSINESS”We are very disappointed with the price reduction of our print products that we were not able to negotiate,” Dini added.
“It is the biggest price increase we have seen in a long time and it will have a huge impact on our business.”
This week, a report by the Associated Press found that printmakers have suffered losses of more than $7.6 billion since 2011 due to higher printing costs.
According to the AP, printmakers in China are losing about half of their sales.
In an interview with Business Insider, Vuitton CEO Giorgi Dini denied that print costs are the main reason for the company’s price increases.
“Our print prices are not a major issue,” Dinis told Business Insider in May.
“We are not making a big profit.
But we need to get rid of the prices that we have to pay.
And we are very much aware that printing is the most expensive part of our business and it needs to be changed.”
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