Dear Friends,

On behalf of the entire Spector Team, I’d like to wish everyone a healthy, happy and prosperous 2022!

As we all know, the last 2 years have seen world changing events. Some for the short term and some for the long term. I feel that one of our strengths has been to always look at challenges as opportunities to grow. Opportunities to be more innovative. Opportunities to excel. Opportunities to better partner with our clients. And this year we as a team will embrace these.
The one impact on global industry has been the damaging effects of supply chain disruptions. Freight costs and delays have played a damaging role for all importers. The lack of manpower for all businesses has and will continue to be a challenge. One cannot walk or drive without seeing companies advertising to hire staff. Our team has reviewed our operating and cost structure over the last several months and we have no choice but to increase our prices. This is our first global price increase in the past two years, as we held our prices tight through the pandemic. We’ve tried to limit the increase and we’ve analyzed every single item and every single decorating process. Our average price increase for our entire product line will be approximately 6%. These changes will go into effect on Monday, January 10th.

At the same time, we continue to be nimble and have expanded our production capacity to allow for quick shipping of all our client orders. While everyone struggled with inventory challenges for the past couple of years, we are pleased to report that our in-stock ratio has been averaging 90%. Due to the fact that we are confident in our rapid bounce back in 2022, we have placed purchase orders with our overseas factories so that we have 6 months inventory for the coming two quarters. With the launch of Ora, our drinkware line, we increased our facility by 55,000 square feet. We purchased brand new material handling and decorating equipment for Ora and continue to be innovative in order to launch new ways to brand this category.

We look forward to the time when we can all safely travel and meet live face to face. In the meantime, let us all welcome 2022 with open hearts and minds and be optimistic about growing our partnerships together.

Robert Spector,
President