Espinosa Premium Cigars says that it will increase prices for “the majority of its portfolio by 5 percent” effective Feb. 1, 2023.
“Regrettably, since the pandemic, the cost of making cigars, its ancillary processes, and conducting business in Nicaragua has risen drastically,” said the company in a press release attributed to Hector J. Alfonso, director of factory operations. “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.”
Notably, Espinosa says this is the first time that it has increased prices in more than three years.
It is widely expected that most cigar companies will be increasing prices in or around early 2023, most of which are likely to be announced in the first quarter of the year as that is when most companies traditionally make these announcements. Reasons for these increases include increased costs for tobacco and packaging, increased competition for labor, general inflation, and mirroring competitors’ price adjustments.
The following chart looks at what companies have announced price increases or no price increases for 2023.
Company | Price Increase? |
---|---|
AJ Fernandez | No |
Alec Bradley | Yes |
All Saints Cigars | Yes |
Battleground | No |
Bellatto Premium Cigars | Yes |
Bocock Brothers | Yes |
Caldwell | Yes |
CLE | Yes |
Crowned Heads | Yes |
Crux | Yes |
D'Crossier | No |
Davidoff | Yes |
Drew Estate | Yes |
Dunbarton Tobacco & Trust | Yes |
E.P. Carrillo | Yes |
Epic | No |
Espinosa Premium Cigars | Yes |
Esteban Carreras | No |
Fable | No |
Favilli | No |
Ferio Tego | No |
Forged Cigar Co. | Yes |
Foundation Cigar Co. | No |
Fuerte y Libre | Yes |
Garo | No |
General Cigar Co. | Yes |
Gran Habano | No |
Habanos S.A. | Yes |
Howard G Cigars | No |
Iconic Leaf | Yes |
Illusione | No |
J.C. Newman | Yes |
Karen Berger | No |
La Flor Dominicana | No |
La Palina | Yes |
La Sirena | No |
Lost&Found | Yes |
Lotus/Vertigo | No |
Luciano Cigars | No |
Maya Selva Cigars | Yes |
Miami Cigar & Co. | No |
My Father Cigars | No |
Oscar Valladares Tobacco & Co. | Yes |
Oveja Negra Brands | No |
Paul Garmirian | Yes |
PDR Cigars | No |
Perdomo | Yes |
Platinum Nova | No |
Plasencia Cigars | Yes |
Powstanie | Yes |
Quality Importers Trading Co. | No |
Rocky Patel | Yes |
Rojas Cigars | Yes |
Sinistro Cigars | Yes |
Southern Draw | No |
Vintage Rock-A-Feller | No |