Plufl, a company that makes "dog beds for humans," received an investment from Mark Cuban and Lori Greiner on Shark Tank in 2022. After the US imposed a 145% tariff on Chinese imports, Plufl's founders considered making their beds in the US to avoid the tariff. However, they found that manufacturing in the US would increase their costs, and retailers were unwilling to raise prices to accommodate the tariff. Plufl ultimately decided to continue manufacturing in China and absorb the cost of the tariff. Other companies, such as Moment, which makes healthy beverages, are also struggling with the impact of tariffs on their business. Moment's CEO, Aisha Chottani, was unable to pass on the increased cost of cans to retailers and is instead looking for ways to cut costs. Bugaboo, a Netherlands-based company that makes baby gear, is also feeling the impact of tariffs and has raised prices on some of its products. The company is considering moving production to other countries or the US, but this would take several years. Simplified, a company that makes high-end notebooks and stationery, is also absorbing the cost of tariffs and has filed a lawsuit against the Trump administration alleging that the tariffs are illegal. Overall, many small and midsize manufacturers are struggling to navigate the impact of tariffs on their businesses.
www.fastcompany.com
www.fastcompany.com
Create attached notes ...