Home News Who Owns Craftsman

Who Owns Craftsman


Who owns craftsman : For the Holidays, Craftsman and DieHard (but not Sears) are back. It’s great to see you again, Craftsman and DieHard.

Both businesses, which are among the most well-known in their respective product categories, are back on the air this Christmas season, advertising their wares to gift-givers around the country.

The significant difference is that they are no longer owned by Sears, who had been in charge of their brand for the better part of a century.

Sears sold the Craftsman brand to Stanley Black & Decker, a well-known tool and hardware firm, for $900 million three years ago as part of the gradual deconstruction of what was once the country’s greatest retailing corporation.

As part of the agreement, Sears may continue to sell the brand’s items, but the majority of distribution would be handled by Lowe’s, which knew a good name when it saw one.

Craftsman items have been available at Lowe’s since late 2018, and while it has been a part of its Christmas promotions for the past two years, this is the first time it has been joined by DieHard.

In another cash-out, Sears — now owned by Transformco but still controlled by long-time CEO Edward Lampert — sold the brand to Advance Auto Parts for nearly $200 million last December.

The brand is well recognised for its automobile batteries, but it is also found on a range of other automotive parts.

It is being sold on television this Christmas season with a creative campaign starring Bruce Willis, who is best known for the apparently endless series of Die Hard movies.

Given that it’s another brand that hasn’t been heard on the airwaves in years due to Sears’ cash-strapped situation, it’s a welcome tie-in.

The presence of both brands this holiday season demonstrates both the strength of trusted brands that people understand and appreciate, as well as Sears’ failed chance to use them to drive traffic and eventually revenue to its stores and online company.

Read Also: