First the good news: The global economy is recovering faster than expected from the restrictions of the Corona period. The rapid recovery is unexpected and also surprises raw material suppliers. As recently as 2008/09, it took the economy up to two years to recover from the financial crisis.
Textiles cost more
The quick recovery brings new challenges. For example, raw material prices are generally rising. In addition to the costs of steel, glass, and crude oil, the prices for cotton, for example, are also rising. The latter already reached record highs at the beginning of 2021. In addition, there is an increasing demand for organic cotton in particular, regardless of Corona.
NIKIN also affected
NIKIN is also affected by rising raw material prices, as we process a lot of organic cotton. For a long time, we held off on changing the selling price of our products, but now we also have to make slight price adjustments. The quality of our products will, of course, remain the same. We will also continue to plant trees, as trees are always in high demand with us.
