Leather prices have skyrocketed in recent years. The price of leather is up 90% in the past 5 years, and up 17% this year alone.
This is a particular challenge for our industry. The cost of leather can represent up to 60% of the cost of a leather glove. In leather glove manufacturing, raw material prices -- especially the cost of leather -- are critical.
Today, we want to share a 3-pronged strategy to deal with higher hide prices.
(Image Source: Bloomberg News)