Race Winning Brands and its portfolio of brands (BoostLine Products, CORSA Performance, Dart Machinery, Diamond Racing, Haltech, JE Pistons, Manley Performance, MGP, PAC Racing Springs, ProX Racing Parts, Rekluse, RevMax Performance, Transmission Specialties, Trend Performance, Volant and Wiseco Performance Products) is announcing its transition to a Unilateral Retail Pricing Policy, reflecting its commitment to maintaining the quality and reputation of its products in the performance components industry. The implementation of Minimum Retail Price (MRP) for its portfolio of brands is aimed at addressing challenges such as counterfeit product sales, advertising, and selling practices that focus solely on price.
The decision to move from a MAP (Minimum Advertised Price) Policy to the Unilateral Pricing Policy is a strategic response to protect the investments made by its valued partners (distributors, dealers, jobbers, and engine builders) and other resellers who contribute significantly to educating the consumers of all levels about RWB products. This move is driven by a desire to ensure fair competition, discourage practices that solely promote products based on price, and maintain the overall reputation of quality and innovation associated with RWB brands.
Key points regarding the transition to Unilateral Pricing Policy:
1. Effective Date: The new pricing policy will be implemented starting June 1st, 2024.
2. Policy: RWB will adopt a Minimum Retail Price (MRP) as part of its Unilateral Pricing Policy.
3. Reasons for Change: Counterfeit product sales and resellers’ advertising practices based solely on price have been identified as factors potentially detrimental to RWB’s quality reputation and the efforts of its resellers. The change aims to address these issues.
4. Support for Resellers: RWB acknowledges the significant investments made by its resellers in educating the public, training staff, and providing customer support. The company is committed to supporting these efforts to maintain the reputation of RWB products.
5. Potential Consequences for Non-Compliance: Failure to abide by the new pricing and selling policies may result in various consequences, including:
– Loss of privileges related to RWB’s intellectual properties.
– Referrals for RWB products.
– Customer pricing discount levels.
– Overall ability to purchase RWB’s products.
6. Communication: RWB will distribute the complete details of the MRP policy on May 1st, 2024, allowing resellers time to adapt to the changes before the effective date.
7. Promotions: RWB will allow its valued partners to run limited promotions with proper approval, additional information will be shared in the new policies.
Resellers and other stakeholders are encouraged to contact Cary Redman, Vice President of Sales and Category Management [email protected], for more information and clarification on the new Unilateral Retail Pricing Policies.
