J.C. Newman will increase prices on its cigars effective Jan. 1, 2023.
According to Drew Newman of J.C. Newman, the increases amount to a weighted average of 6.5 percent across its portfolio, which includes cigars made in the Dominican Republic, Nicaragua and the U.S.
It is widely expected that most cigar companies will be increasing prices next year, 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 is a look at what companies have announced price increases or no price increases for 2023.
|All Saints Cigars||Yes|
|Espinosa Premium Cigars||Yes|
|Foundation Cigar Co.||No|
|Howard G Cigars||No|
|La Flor Dominicana||No|
|Miami Cigar & Co.||No|
|My Father Cigars||No|
|Oscar Valladares Tobacco & Co.||Yes|
|Oveja Negra Brands||No|
|Quality Importers Trading Co.||No|