The Société des alcools du Québec (SAQ) will increase its prices in May, with an increase in its mark-up. Wines $15 or less are excluded from the adjustment.
The president and CEO of the state-owned company, Jacques Farcy, made the announcement Monday at a press conference in Montreal, accompanied by Édith Filion, chief financial officer.
The increase represents the gross margin of the state company, after paying the supplier for the bottle, explained Ms. Filion.
Mr. Farcy explained that this “moderate adjustment” to the increase was necessary with the increase in the SAQ’s operating costs.
The manager stressed that the SAQ had adjusted its mark-up downwards since 2017. “For example, for a wine at $25, the adjustment of the mark-up will represent an increase of 0.6% and the increase will be the same for a spirits at $45,” explains Mr. Farcy.
The SAQ will also offer more flexibility to suppliers on when they can request a price increase. They will not be able to apply more than twice a year.
To watch on video