VOW Reduces Prices on Top Selling Products
VOW has reduced prices on 95% of its top selling products and has informed its reseller customers about the positive news. In line with VOW’s monthly currency review mechanism that evaluates the performance of the Sterling against the Euro and Dollar, VOW has seen the Sterling continue to strengthen against the Dollar, which has resulted in VOW reducing the prices of dollar purchased products.
VOW has implemented this price reduction while also considering a number of SKUs that have seen an increase in base cost price due to raw material increases. All price changes will be included in VOW resellers’ July midyear pricing review with files available to them from 5th June in the normal manner.
Adrian Butler, VOW’s Managing Director, comments, “We made a commitment to our resellers to monitor currency fluctuations and keep them informed in light of the difficult market conditions of the last 12 months. Our resellers have responded well to this proactive approach and we have worked with them to help pass on the increases to their customers. This price reduction comes at a key time when our resellers will be reviewing prices at the half year point. We will continue to monitor and review areas where we can add value to their businesses and pass any benefits on. Once again, we would like to thank our resellers for their support and business and our local teams will be in touch as soon as possible to go through their July price files.”
The review mechanism used by VOW to manage currency triggers when there is a 5% movement in the exchange rate for a prolonged period of four weeks. The Dollar and the Euro are monitored separately so they can move independently of each other and each month VOW considers the impact of any movement in the previous four weeks.