In a press release today, Espinosa Premium Cigars has announced a 5% increase on wholesale cost effective February 1, 2023. The company notes that this price increase will be across the majority of its portfolio.
This is the first time in over 3 years that Espinosa Premium Cigars has had to raise prices. Regrettably,
since the pandemic, the cost of making cigars, its ancillary processes, and conducting business in
Nicaragua has risen drastically.
Espinosa Premium Cigars joins others in the industry that have been forced to raise prices on average of about 5%. E.P. Carrillo just announced a similar increase the other day and we most likely will hear more from brand owners and manufacturers as the year rolls on.
Espinosa notes:
“This minimal price increase was the only way to allay rising operating expenses, tobacco, and a precipitous increase of tariffs, fees, and taxes within Nicaragua. Espinosa Premium Cigars has always prided itself on providing our consumers and retailers with excellent cigars at affordable pricing and will continue to do so.”
