US gum maker Wrigley will hike the prices of five of its leading brands.
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As of January, recommended retail prices of Wrigley’s Spearmint, Doublemint, Juicy Fruit, Big Red and Winterfresh gum brands will rise by five cents, the Chicago-based company confirmed.
However, the RRP of the company’s Extra sugarfree gum brand will fall by five cents. The net effect of the price adjustments puts the price of these brands at 30 cents per five-stick pack, reported the Associated Press.
Shares inched down on the news to end yesterday [Wednesday] at US$55.77 on the New York Stock Exchange.
Doublemint hopes dashed
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By GlobalDataIn a separate story, the European Court of Justice, the highest court of the European Union, today [Thursday] rejected Wrigley’s application to register a Community Trade Mark for its Doublemint brand.
Wrigley had hoped to register the a Trade Mark for the brand on the grounds it was descriptive of certain characteristics of the product.
