February 22, 2022 Behind the Scenes
By Sara Berks
At MINNA, we're committed to doing business differently, because we believe that your home should be a reflection of your values. Timeless in design, each ethically handmade piece is the result of a thoughtful, collaborative production process. Our products are made with care by skilled master artisans with the utmost attention to detail, to ensure quality. We work hard to source natural and sustainable materials. Honesty is core to our beliefs, and we want to be transparent about what influences our decisions as a business. So, today we’re writing to share a bit more about our pricing — how we price products and why — because on March 1st, we will be implementing a small price increase.
In the past year we’ve seen the cost of operating, specifically, the cost of producing our products, increase significantly — anywhere from fifteen to forty percent. At the end of the day, the price changes will range from a few dollars (tea towels) to over a hundred dollars (larger rugs) — averaging out to a 2.5% price increase. These changes will allow us to continue paying fairly and work toward our shared values as the cost of operating increases.
What goes into a price?
We build our pricing around the cost per piece, which includes two components: the cost of raw materials and labor costs, which are determined by each of our artisan partners to account for the time and technique that goes into each item. Then, we incorporate other costs such as shipping, business operations, salaries, and rent. This practice ensures everyone in our entire supply chain and our New York-based team is paid fairly and ensures we're operating sustainably so that our suppliers, artisans, and team can count on MINNA in the future.We are proud to say that on average, we pay 4x the living wage in every region we produce our products in. In our homebase of Upstate New York, where the minimum wage is $11.80/hr and the living wage is $14.81/hr, our starting wage is $20.00/hr.
We recognize that the unfortunate irony in paying fairly is that it often comes in direct opposition to price accessibility.Instead of looking for ways to cut costs and maintain pricing, we’re embracing what it means to create a slow, handmade, high-quality product and ensuring you — our customers — will still receive the beautiful and durable products you’re used to. For us, it means that when we’re doing more than just covering costs, we’re able to invest in the future of the business — whether that’s developing new designs, onboarding new artisan groups, or opening more stores for our customers to visit. More abstractly, these changes will allow us to build the kind of future we want, one in which businesses can be positive for all the humans involved.
To ease the transition, we want to offer you the opportunity to shop MINNA at our current pricing before this change goes into effect on March 1. Thank you for being on this journey with us!