Condo Blues: Craftsman




Showing posts with label Craftsman. Show all posts
Showing posts with label Craftsman. Show all posts

Thursday, January 12, 2017

Sears sells Craftsman Brand and Friday Favorites Linky Party Week 354

Super big news in the tool world last week. According to Business Insider, Sears sold the Craftsman brand to Stanley Black & Decker who also owns the Dewalt tool brand. According to The Motley Fool:


"Rather than buying Craftsman outright, Stanley Black & Decker is buying the rights to use the Craftsman brand outside of Sears-affiliated sales channels. Meanwhile, Sears Holdings will be able to continue producing and selling its own line of Craftsman-branded products in Sears and Kmart stores. Sears will start paying royalties to Stanley Black & Decker for use of the Craftsman brand after 15 years.

Since non-Sears retail outlets account for just 10% of Craftsman sales right now, Stanley Black & Decker is essentially paying for the growth potential associated with making Craftsman products more widely available. The deal was deliberately structured this way to protect Stanley Black & Decker from Sears' ongoing decline."

I can't say I'm surprised because the writing has been on the wall for Sears Holdings for quite awhile. For example, last Christmas Kmart made it impossible to buy a few items I was interested in both in local store and on line. They were little extras so it wasn't a loss that I didn't buy them. Although I know Husband had to jump through a quite few hoops to buy the Craftsman orbital sander I wanted for Christmas. Originally he wanted to give it to me for my birthday but couldn't find it.

I hugged my Craftsman sander like an eight year old girl getting an American Girl doll for Christmas.