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Cartier to Raise Prices 3-5%

The increases will help to mitigate rising material prices.

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Consumers can expect prices on Cartier products to rise in coming weeks.

Cyrille Vigneron, CEO of the company, has pegged the increases at 3-5 percent, Bloomberg reports.

The increases will help to mitigate rising prices of gold, platinum and diamonds, he said. They will also help to combat recent weakness of the euro against the U.S. dollar and Chinese yuan.

Vigneron described the price increases as “mild.”

He told Bloomberg: “We’re in a long-term business, and we have to be careful not to adjust our pricing too quickly.”

He’s optimistic about the company’s long-term prospects due to broad economic and demographic trends, including “overall growth of world wealth.”

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