REPORT: A tale of two Craftsman brands
Stanley Black & Decker and Sears Holdings both have a version of Craftsman tools.
Last month Stanley Black & Decker revealed a re-energized line of Craftsman tool products.
The New Britain, Conn.-based tools, storage, and security manufacturer said the Craftsman brand had been languishing under its former owner – Sears Holdings Corporation – and it was time to put quality back into the product. About 1,200 new products are in the new launch including power tools, hand tools, outdoor power equipment, and tool storage products.
But when Stanley Black & Decker purchased the Craftsman brand last year, the $900 million deal allowed for Sears Holdings to continue manufacturing selling its own brand of Craftsman tools at Sears, Kmart, and Sears Hometown and Outlet stores.
According to a report by the Chicago Tribune there will now be competing Craftsman brands on the market.
And Sears claims it still has the largest assortment of Craftsman at any retailer while collecting royalties from Stanley Black & Decker for the next 15 years.
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