Craftsman, the tool brand that for generations has been associated with Sears, will hit the shelves of Lowe’s in the second half of 2018.
The roll out of Craftsfman with Lowe's in the home center channel was announced Tuesday morning during the Stanley Black and Decker third quarter earnings call. "We have been more than impressed with the level of commitment and support afforded by Lowe's for the Craftsman brand," said Jeff Ansell, executive VP and president, global tools & storage for Stanley. "We continue working with other channel partners to continue to provide them with successful programs to facilitate their growth as well."
Sears sold its Craftsman brand to Stanley Black and Decker in a deal that closed in March. At the time, Stanley was clear about its intention to expand the brand to new outlets. “We will invest in the brand with a focus on quality, innovation and U.S. manufacturing, with the goal of rapidly increasing sales through new channels,” he added.
Previously, Craftsman had been sold at Sears and Kmart stores, Orchard Supply Hardware stores (through its previous ownership connection to Sears) and through Ace Hardware stores, through an exclusive deal for the convenience hardware industry.
Lowe's appears eager to begin the relationship.
“As Craftsman looks to expand, the Lowe’s customer is a perfect match – whether they’re looking for high-quality, durable everyday tools or advanced tech-forward products, Craftsman offerings are sure to fulfill their home improvement needs,” said a public relations company representative of Lowe's in an e-mail to HBSDealer.