Fluctuations in the Australian dollar mean our prices will change from time to time. Price change is also needed for us to stay relevant and to be fair to our suppliers.
Our prices are reviewed quarterly. When reviewing prices, LKNU converts the brands RRP to $AUD using the exchange rate averaged over the relevant 3-month period. Prices are then adjusted 1 month later in stores and online. As the Australian dollar fluctuates, the daily exchange rate following our review may differ from the rates we used for the pricing review.
If the exchange rate fluctuates by more than 10% in a 3-month period, we may review prices more frequently.
After review, prices either stay the same, decrease or increase. However the decrease or increase won't pass a certain threshhold decided by our internal guideline.
Please see below our quarterly price review and adjustment schedule, effective from 2020 onward:
First price review: end of March -> Price adjustment (if any): end of April.
Second price review: end of June -> Price adjustment (if any): end of July
Third price review: end of September -> Price adjustment (if any): end of October
Last price review: end of December -> Price adjustment (if any): end of following January.
Our price review schedule doesn’t apply to scenarios where suppliers change their RRP as we must follow the RRP recommended by these brands for the market. In this case, price adjustment can happen any time.
Our final prices depend on many factors; mostly cost of goods sold, customs, shipping and the mandatory Australian GST.