LOWE'S ANNOUNCES 2024 VENDOR PARTNERS OF THE YEAR

Rhea-AI Summary

Lowe's Companies, Inc. (NYSE: LOW) has announced its 2024 Vendor Partners of the Year. The winners are:

• Pella® (Building Products Vendor Partner of the Year)
• Schluter Systems (Home Décor Vendor Partner of the Year)
• Klein Tools (Hardlines Vendor Partner of the Year and Building Products Innovation Partner of the Year)

Additionally, Henkel was named Lowe's Sustainability Partner of the Year for its commitment to reducing emissions and investing in renewable energy. The company also recognized innovation partners and divisional winners across its three merchandising divisions: building products, hardlines, and home décor.

Bill Boltz, Lowe's executive vice president of merchandising, praised these partners for their commitment to customer needs, innovation, and value. Lowe's, a FORTUNE® 50 home improvement company, operates over 1,700 stores and serves approximately 16 million customer transactions weekly in the United States.

Positive

• Recognition of top-performing vendor partners, indicating strong supplier relationships
• Emphasis on innovation and sustainability in partner selection
• Diverse range of partners across multiple product categories
• Lowe's reported total fiscal year 2023 sales of more than $86 billion
• Lowe's operates over 1,700 home improvement stores in the United States

Negative

• None.

Lowe's recognizes Pella®, Schluter Systems and Klein Tools as This Year's Outstanding Suppliers; Henkel Named Lowe's Sustainability Partner of the Year

MOORESVILLE, N.C., Oct. 1, 2024 /PRNewswire/ -- Lowe's Companies, Inc. announced it has named Pella®, Schluter Systems and Klein Tools as the company's 2024 Vendor Partners of the Year. The suppliers were recognized for their commitment to delivering quality products, innovation, value and service to Lowe's customers.

Additionally, Lowe's has recognized Henkel as its Sustainability Partner of the Year for its commitment to reducing emissions and investing in renewable energy. In May, Henkel continued to show its dedication to sustainability efforts by driving change through industry collaboration at its first hosted North American Sustainability Exchange conference. As an industry leader, Henkel is constantly developing more sustainable packaging by increasing the use of recycled content and creating more sustainable products.

"We always enjoy honoring our vendor partners who have gone above and beyond for our customers and for Lowe's," said Bill Boltz, Lowe's executive vice president, merchandising. "These vendor partners have continuously put our customers' needs first, consistently bringing innovation and value to market, delivering on their commitments and contributing to our success. Our priority is to help our vendor partners grow their business with Lowe's and we appreciate the partnerships that have been cultivated over the years."

Lowe's named overall Vendor and Innovation Partners of the Year and divisional category winners for each of its three merchandising divisions: building products, hardlines and home décor. The 2024 winners include:

Building Products

Vendor Partner of the Year: Pella® has leveraged our exclusive partnership to launch new innovations including their hidden screen window technology and is committed to strategically moving the business forward through creative concepts while always assessing the total marketplace. Pella also partnered in the creation of a new shopping experience and customer outreach via the Lowe's Media Network.  

Innovation Partner of the Year: Klein Tools continues to improve the performance of its tool and testers business in the electrical aisle. By bringing Lowe's innovative products with 167 years of brand equity, Klein has continued to produce classic Klein tools as well as exclusive new products. When it comes to innovation, Klein is constantly working to make the tradesman's job easier with Klein tools and strives to enhance Lowe's electrical assortment.

Georgia Pacific, Charlotte Pipe, Prime YFC and OldCastle were also recognized as divisional winners in the building products category.

Hardlines

Vendor Partner of the Year: Klein Tools successfully launched over 150 products across Tools, including two exclusive platforms – Klein MODBox and Klein Knect since its partnership with Lowe's in 2023. Klein plans to add an additional 100 items in the near future and has collaborated with several teams beyond Merchandising to ensure the successful launch of products across various Merchandise divisions, helping to drive a strong message to Lowe's Pro customers.

Innovation Partner of the Year: Chervon curated a robust lineup of EGO Lifestyle products providing customers industry leading innovation and further expanding the versatility of the EGO 56V battery platform. New products included a 20" Chainsaw featuring an anti-kickback sensor, 9 gallon Wet/Dry Vac, 3200psi Pressure Washer, Cordless Nailers driving an industry leading 2,200 nails on a single charge, 8" Earth Auger delivering 65 foot-pounds of torque, and a Minibike with top speed up to 28mph.

In addition, OldCastle, Toro and Hillman were recognized as divisional winners in the hardlines category.

Home Décor

Vendor Partner of the Year: Schluter Systems leads the industry in the tile shower waterproofing category. Schluter uses its extensive network of field trainers to educate Pros on the benefits of its products as well as provide a full-field team dedicated to assisting with category maintenance and in-store associate training. Schluter continues to identify opportunities to enable store growth, create new merchandising concepts and update products that drive performance improvements for the business while ensuring Lowe's has the product needed to meet customer needs.

Innovation Partner of the Year: Shaw partnered with Lowe's to bring a new liquid protection carpet to market under the STAINMASTER Pet Protect® brand as a result of strategic, in-depth customer research. Shaw used LeakDefense technology that helps prevents liquid from penetrating the backing of the carpet and reaching the carpet pad or subfloor where mold, mildew and odors originate, proving that any product can be elevated when paired with persistence and critical creative thinking.

American Plastics, Graco, Masterbrand and LG were also recognized as divisional winners in the home décor category.

About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 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.

Media Contact:
Amanda Caskey
amanda.caskey@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

Who are Lowe's 2024 Vendor Partners of the Year?

Lowe's 2024 Vendor Partners of the Year are Pella® for Building Products, Schluter Systems for Home Décor, and Klein Tools for Hardlines.

What company did Lowe's (LOW) name as its Sustainability Partner of the Year for 2024?

Lowe's named Henkel as its Sustainability Partner of the Year for 2024, recognizing their commitment to reducing emissions and investing in renewable energy.

How many home improvement stores does Lowe's (LOW) operate as of 2024?

As of 2024, Lowe's operates over 1,700 home improvement stores in the United States.

What was Lowe's (LOW) total sales for fiscal year 2023?

Lowe's reported total fiscal year 2023 sales of more than $86 billion.