Lifeway Foods Announces Full Product Line Price Increase
We are confident given the uniqueness of our Kefir products and our dominance in the Kefir market, our past price adjustment experiences, conversations with our customers.
30/11/07 Lifeway Foods, Inc., makers of a nutritious, probiotic dairy beverage called Kefir, announced that it will implement a price increase of approximately 10-15% on it's full catalog of products. This price increase will go into effect in December 2007.
Julie Smolyansky, Lifeway's CEO, commented, "We would like to reiterate that our main goal at this time as a growing company in a competitive food industry is to continue to grow our revenues, build a strong brand, and expand our loyal customer base, and part of this strategy has and will continue to be to maintain a relatively lower price on a per ounce basis when compared to other similar products on the market. However, given the current environment of historically high raw material prices as well as other rising costs, a price increase was necessary. We are confident given the uniqueness of our Kefir products and our dominance in the Kefir market, our past price adjustment experiences, conversations with our customers, as well as the higher current price environment for similar products, this price increase should have no negative impact on our unit sales."
