The primary challenge faced is the uncertain tariff environment affecting operations primarily in Vietnam and Malaysia, with impending tariff rates set at 20 percent and 19 percent, respectively. This has necessitated price increases for certain products later this year. Collaboration with contract manufacturers and Channel Partners is ongoing to share tariff costs and monitor consumer behavior. Adjustments will be made based on competitive trends, ensuring efforts are focused on optimizing financial performance across product lines.
The most significant near-term challenge has been the uncertain tariff environment, particularly affecting manufacturing operations focused in Vietnam and Malaysia.
Tariff rates of 20 percent for Vietnam and 19 percent for Malaysia will necessitate price increases on certain products later this year.
We continue to work closely with our contract manufacturers and Channel Partners to share tariff costs and monitor consumer behavior and competitive trends.
As pricing changes are implemented, we'll collaborate with our Channel Partners to adjust strategies to optimize both top and bottom lines.
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