Lowe’s Acquires STAINMASTER
Lowe’s Companies, Inc. (“Lowe’s”) announced it acquired the STAINMASTER brand, the most recognized and trusted carpet brand on the market today, advancing the home improvement retailer’s Total Home strategy.
With this acquisition, Lowe’s will build on its decade-long exclusive position as the only national home improvement retailer to carry STAINMASTER carpet. The purchase includes all brand-related intellectual property from its parent company, Invista, and all related trademarks and sub-brands.
The STAINMASTER acquisition is a step in delivering Lowe’s Total Home strategy by elevating the retailer’s assortment, providing consumers with the products and brands they trust for every project across their entire home.?STAINMASTER will join Lowe’s private brand portfolio, and the company sees opportunity to extend its high-performance characteristics into other product categories.
“Today’s announcement adds the most trusted and recognized brand in carpet to our lineup of private brands,” said Marvin R. Ellison, Lowe’s president and CEO. “At a time when home has never been more important, customers are increasingly looking for high-performance products to meet their evolving needs and expectations. We see great potential to leverage and extend the STAINMASTER brand into other product areas to further serve our customers and deliver on our Total Home strategy.”
“Lowe’s is excited to have STAINMASTER join our family of private brands, alongside the likes of allen + roth, Project Source and Harbor Breeze,” said Sarah Dodd, Lowe’s senior vice president of global merchandising. “Research shows STAINMASTER is the soft-surfaces brand customers trust the most when shopping for flooring. This acquisition further demonstrates our commitment to deliver a compelling product assortment for customers wherever they choose to shop with us.”
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
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Source: Lowe’s Companies, Inc.