Here’s some big news in the tool world: Craftsman, which has for decades been the trademark tool brand of Sears Holdings, has been purchased by Stanley Black & Decker.
From the official press release:
Stanley Black & Decker’s President and Chief Executive Officer, James M. Loree commented, “We are pleased to complete the purchase of the Craftsman Brand, a legendary American brand with tremendous consumer awareness built on a legacy of providing reliable products at a good value and standing behind them. We will invest in the brand with a focus on quality, innovation and U.S. manufacturing, with the goal of rapidly increasing sales through new channels and will provide more information on our distribution plans as they are developed. We are confident that we can grow Craftsman while continuing to execute on our other core strategic initiatives, leveraging our world class innovation, commercial and operational excellence and experienced team. We also understand the Craftsman warranty is important to existing customers and intend to honor existing and offer similar warrantees going forward. As we continue our growth journey, we will pursue opportunities across the portfolio to build upon our world-class franchises to create shareholder value.”
Craftsman has a rich legacy as an iconic brand within the U.S. in Power & Hand Tools and Storage Products as well as a strong presence in Lawn & Garden Products. The breadth of brands under the Stanley Black & Decker umbrella will provide even more solutions to the end-user.
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions, engineered fastening systems, and more. Learn more at www.stanleyblackanddecker.com.
- Will Craftsman be manufactured in the United States?
- Stanley Black & Decker will be localizing as much manufacturing as possible, consistent with our operating model of manufacturing as close to our customers as possible. Stanley Black & Decker will focus on U.S. manufacturing, using global materials, with the confidence that this will grow the Craftsman brand.
- Will Sears continue to sell Craftsman products?
- Yes, Sears will continue sourcing, marketing and selling Craftsman-branded products in their stores, independent from Stanley Black & Decker.
- Will the Craftsman warranty remain the same?
- Yes. Craftsman branded products will continue to be covered under their existing warranties. On Day 1, there are no changes to how an end user gets service or how a non-Sears authorized retail associate would operate regarding the warranty. Customers can call 888-331-4569 or visit https://www.craftsman.com/customer-care/warranty-information.
- What number / website should users contact / visit if they bought the product at Sears or Kmart?
- 1-888-331-4569 OPTION 1 / Craftsman.com
You can keep track of this new development here: www.futureofcraftsman.com