The increases will be higher than normal, the company said, and will offset costs for glass, alcohol and sugar.
“We normally raise prices every year… in 2022 we plan to have more robust increases than usual, given higher costs on all raw materials,” said Campari CEO Bob Kunze-Concewitz told Reuters..
Campari will raise prices in all its main markets, including the United States, Kunze-Concewitz said, adding that speciality beverages such as Aperol and Campari could see higher increases than drinks that are more exposed to competition, such as vodka.
“We have increased tequila prices twice in 18 months, and we will have to do it again in 2022,” he said.
The group expects costs for materials, production and logistics to increase 5%.
Campari closed at $14.40, down 32 cents.