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World’s Largest Sewing Machine Manufacturer to Increase Prices on SINGER, HUSQVARNA VIKING & PFAFF

Today SVP Worldwide, owner of SINGER(R), HUSQVARNA VIKING(R), and PFAFF(R) sewing machine brands, announced it will increase prices on a global basis across the majority of its product portfolio and after sales products. Price increases will range between 5-10% on lower-priced products and between 3-5% on higher-priced products. Specifics will vary on a country-by-country and product-by-product basis.
 
“SVP Worldwide, like many global manufacturers, has been hit with significant cost increases ranging from energy to raw materials, packaging to transportation, and labor to currency exchange pressures,” said Don Fletcher, CEO of SVP Worldwide. “These pressures have reached a point where internal cost and expense control initiatives can no longer offset these escalating costs.”
 
Doing business in over 190 countries, the SINGER, HUSQVARNA VIKING and PFAFF mechanical, computerized, and embroidery machines and after sales products will experience a price increase.

“SVP Worldwide is proactively working with suppliers, monitoring the industry, and examining all expenditures to minimize costs for sewers around the world,” said Brad Hunsaker, Global Vice President of Sales and Marketing for SVP Worldwide. “The entire SVP Worldwide family remains committed to deliver outstanding value and quality to its customers, dedicated partners and loyal sewers.”

Price increases will be implemented effective January 1, 2009. SVP Worldwide, a global company headquartered in Hamilton, Bermuda and doing business through its affiliated companies in over 190 countries, specializes in the design, manufacture and sale of high quality household sewing machines and related products under the SINGER, HUSQVARNA VIKING, and PFAFF brand names. For more information about the Company and the company’s brands view the following websites: www.svpworldwide.com, www.singer.com, www.husqvarnaviking.com, and www.pfaff.com.

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