Lowe’s Touts New Craftsman Partnership
Lowe’s rarely promotes new products months in advance of their launch, but it's making an exception for Stanley Black & Decker's Craftsman brand.
The home improvement retailer will stock tools from the 90-year-old brand in the U.S., Canada and online beginning in the second half of 2018. It also plans to develop Craftsman-branded products across multiple categories.
Lowe's plugged the news on Tuesday with updates on its Facebook and Twitter accounts. “We are proud to be a partner-of-choice for the Craftsman brand and look forward to sharing additional information with you soon,” said an announcement on the Lowe’s Open House Newsroom website.
The partnership deepens the connection between Lowe’s and Stanley Black & Decker, which acquired the Craftsman brand in March for $900 million from Sears Holdings. Stanley Black & Decker consistently secures secondary merchandising in Lowe’s stores for its brands such as Porter-Cable and regularly executes account-specific sweepstakes at the retailer.
With Ace Hardware already spotlighting the brand through Craftsman Days events in stores and online, the question now is whether channel rival Home Depot will also begin selling Craftsman. Home Depot typically shines its spotlight on tools from Techtronic Industries' Milwaukee Tool, Makita Corp.'s flagship and private label Ryobi.