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Sero Cardomone, senior vice president of global sales at Acuity Brands, blamed the price increase on apparent inflationary pressures, but industry observers say that manufacturers have a feeling of being fed up, trying to match the price of Chinese imported lamps is a bottom-up competition. After ten years of plunging lamp prices, the price cuts seem to be turning. According to foreign media reports, Acuity Brands, the largest lighting manufacturer in the United States, has experienced significant price increases in the market for the first time in many years, which surprised the global lighting industry. Acuity Brands has several top brands in North America and Europe, including Lithonia, Winona, Holophane, Hydrel, Carandini, Gotham, Indy, Peerless and EldoLED, with annual sales exceeding $3.5 billion (approximately $22.17 billion). Acuity Brands announced that it will increase all traditional lighting technologies and various LED products by 6% in the United States starting June 11. The move is significant, with Acuity Brands being seen as an industry leader and many independent light source manufacturers are expected to follow the price increase. Sero Cardomone, senior vice president of global sales at Acuity Brands, blamed the price increase on apparent inflationary pressures, but industry observers say that manufacturers have a feeling of being fed up, trying to match the price of Chinese imported lamps is a bottom-up competition. A British manufacturer said Acuity's move could be seen as a turning point. We have been absorbing cost pressures because we cannot pass on price increases to our customers. But now we have reached a situation where the installation of lamps is more expensive than the lamps themselves. He also said that in addition to the increased cost of materials for lighting products, service costs are also increasing. Acuity's bold statement this week will be emulated by other brands. Recently, raw material costs have increased, such as aluminum prices soaring 25%, now at $2,300 per ton (about $14,600). Another reason is that the United States has added a 25% tariff on some lighting components exported to China. (
October 12, 2024