Players of electric instruments are used to price tags that are stupidly low compared to those in the orchestral world.
I started on a £90 instrument. Then I was happy paying £250, then £400, then £700. Eventually I broke the £1,00 barrier, and in recent years my biggest single-instrument spend has been £2,500. You can still get instruments at all these price points, it's just down to what you want.
I expect Fodera have added together material costs, skilled labour costs, and a proportion of development costs; then allowed themselves, the distributor, and the retailer a markup to make their business worthwhile.