Steve Lang, CEO of Mon Cheri Bridals, gives a stark warning about the future of the bridal industry…
As President of the American Bridal and Prom Industry Association (ABPIA), Steve Lang has this morning issued a plea to the bridal industry to join them in their fight against rises in tariffs and counterfeit dresses. The CEO of Mon Cheri Bridals, warns of the U.S Government’s proposed tariff rises on imports of consumer products from China, that could spell disaster for specific industries.
In his role as President of the ABPIA, Steve has recently been part of the over 350 entities interviewed about tariffs and the effects on many industries. He put forward the case for the bridal market, stating that import of certain products from outside the U.S is essential to bridal gown manufacture.
If tariffs are imposed, goods such as beading and embroidery that are often manufactured in China, could go up in price hugely. This could have untold implications on the American bridal market and in turn our UK industry, with many US brands being stocked here.
Describing the potential affect on the bridal market, Steve continues, ” If a wedding gown, which already faces a 16% duty, faces another 25% tariff, the prices at retail will soar. That will make counterfeiters look quantum cheaper and we will see a resurgence in volume erosion.”
While the Bridal Industry remains safe for now, it is still unclear what the future holds.
Steve Lang urges industry professionals to join the ABPIA as soon as possible to protect our future, stating “We need as many members as possible to show the senatorial and Washington DC department heads that we have critical mass in voter power.”
For more information on the ABPIA visit www.abpia.org today.