Time for looking back at the year behind us, and ahead to 2022! We have worked incredibly hard behind the scenes to have Sim-Lab run as smooth as possible from the outside. Lead-times were reduced to an average of exactly 6 days for the whole of 2021. While in the less busy season, lead time were down even further. The team grew to 26 people in total, and a new cutting facility has been built and is now ready to be taken into use from 2022 onward. Besides our own team of people, we couldn't make it happen without a selection of external advisors and companies which were supporting us throughout the year.
First the bad news... Unfortunately, we need to have a price adjustment to compensate for the increased cost of raw materials. We have been able to manage without it but finally, after 2 years of COVID pandemic, our cost price has risen significantly in such an extent that we are forced to make an adjustment. New prices will be published from 1 January 2022. Expect an increase of around 10% across all product lines.
One of the highlights for 2021 was establishing Sim-Lab USA Inc. in the United States beginning of November. We are working with a logistics partner to be able to serve customers based in North America from the mainland. A new US-oriented website will be launched at the beginning of 2022 for our customers to have an improved experience with lower lead times.
Besides Sim-Lab USA Inc., we are super excited about the merger with GRID-Engineering from Canada. Now called Grid by Sim-Lab, is known for high-end steering wheels and accessories, and have been making name for themselves in 2021. We are continuing the GRID brand under Sim-Lab and we are currently busy with making the necessary preparations to start selling these top-of-the-bill products under the Sim-Lab flag.
Our RaceX by Sim-Lab brand was finally launched as well, and we are looking forward to further building up an eco-system around this awesome cockpit. Take a look at racex.store for more info!
On the backburner, as many do not know(!) we have successfully launched the simgear.eu website, a new place to get all your sim-racing gear! With this eCommerce platform, we are able to bring the top brands to you all in one place. In 2022 we hope to be able to host several products from Hybrid Racing Simulation (HRS) from Australia and make them available for European customers.
You might be thinking, okay so what about new Sim-Lab products!? We have plenty to talk about, and plenty we cannot talk about yet. We have upgrades planned for a lot of our products in our line-up, as well as new releases in the coming months. One of them is the revamped Dash, which will now feature a new design and LED's added. The same design will be used for a Sim-Lab, RaceX and TeamRedline version. Our first GT-style steering wheel is long overdue, but good progress has been made and will be ready for launch in the first half of 2022. We felt we needed to add features for this wheel truly to be relevant in the coming years. Our Triple Monitor mount line-up, P1-X and GT1-Evo all will be receiving updates in 2022. Furthermore, we have some small releases lined up that we are excited about but we want to keep these as surprises once we release them!
Summed up, lot's of new things coming so please just keep an eye on the usual channels to keep up to date.
That is it for now! Our warehouse closes in the week from 27 December until 3 January. We hope to see you again in 2022!
Merry Christmas and Happy New Year from the Sim-Lab Team!
Richard Schouteren, CEO Sim-Lab