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Suntory Whisky to raise prices for first time in 25 years
June 11, 2008
Suntory Whisky has announced they will be increasing prices on shipments starting September 1st this year. The price increase reflects the sudden increase in cost for raw materials, in particular malt. The increase is targeted at mid to high priced items which in total account for approximately 20% of Suntory's domestic products. Other than price raises caused by increases in alcohol tax, this will be the first time since 1983 that the company has increased their prices.
Of the targeted whisky products five were not yet released at the time of the last price increase, so this will be the first time since their inception that their price has gone up. The products to be affected by the price hike include the popular and award winning Hibiki 17 year, Yamazaki 12 year, and their VSOP brandy, among other similar products.
It is expected that the Hibiki 17 year will retail for ¥10,000, up from the current price of ¥9190 before tax.
In addition to these products, on September 9th Suntory Special Reserve 12 year and Royal 12 year will be reintroduced to the market with new packaging and contents and will be sold in a 700ml bottle. Of course these changes will come along with a 0.2% and 3.5% price increase, respectively.
Source: June 10, 2008 Nikkei Net
