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.