Lowe's Announces Partnership with Iconic Klein Tools Brand

Rhea-AI Summary

Lowe's has announced a partnership with Klein Tools to offer a comprehensive range of their products in Lowe's stores and on Lowes.com starting in the second half of 2023. This collaboration will provide the widest selection of Klein Tools in the home improvement retail channel, enhancing Lowe's offerings in hand tools and electrical testing. Klein Tools, a leading brand among electrical and HVAC professionals, will help drive customer traffic and credibility. With fiscal sales of over $96 billion in 2021, Lowe's aims to bolster its Pro brand and innovate its product lineup.

Positive

• Partnership with Klein Tools enhances Lowe's product offerings.
• Klein Tools products will be featured prominently in Lowe's stores.
• Expected to drive customer traffic and credibility within the Pro segment.
• Lowe's had over $96 billion in sales for the fiscal year 2021, indicating strong market presence.

Negative

• None.

Lowe's Will Offer a Full Range of Klein Tools Products, Serving More Trades than Ever Before

MOORESVILLE, N.C., Feb. 9, 2023 /PRNewswire/ -- Today Lowe's and Klein Tools, an American tool manufacturer since 1857, announced a partnership that will bring a significant presence for the iconic tool brand to the electrical and tool departments at Lowe's. As a result, Lowe's will offer the widest selection of Klein Tools products anywhere in the home improvement retail channel.

Klein Tools products will be available in Lowe's stores and on Lowes.com in the second half of 2023, with premium store placement across multiple product categories. Lowe's initial selection of Klein Tools products will include hand tools, electrical test and measurement tools, followed by a multi-year rollout of new product innovations.

"As the number one hand tool brand among electrical and HVAC professionals, Klein Tools strengthens our Pro brand and product lineup, and delivers immediate credibility across all trades," said Bill Boltz, Lowe's executive vice president of merchandising. "The addition of Klein will help drive excitement and traffic among Pro customers looking for market-tested innovation from a brand they trust."

"Klein Tools is committed to serving professionals across the trades," said Thomas Klein Jr., Klein Tools President, and COO. "This partnership with Lowe's enables us to serve Pros with our wide array of products, including innovative new products designed to make work on the job easier, safer and more efficient."

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customer transactions a week in the U.S. With total fiscal year 2021 sales of over $96 billion, approximately $90 billion of sales were generated in the U.S., where 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.

About Klein Tools

Since 1857 Klein Tools, a family-owned and operated company, has been designing, developing and manufacturing premium-quality, professional-grade hand tools. The majority of Klein tools are manufactured in plants throughout the United States and are the No. 1 choice among professional electricians and other tradespeople. Klein is a registered trademark of Klein Tools, Inc. For more information, visit www.kleintools.com 

Media Contact: 
Larry Costello
Lowe's Companies, Inc.
Larry.Costello@Lowes.com   

Greg Palese
Klein Tools
GPalese@KleinTools.com 

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SOURCE Lowe's Companies, Inc.

FAQ

What is the new partnership announced by Lowe's on February 9, 2023?

Lowe's announced a partnership with Klein Tools to offer a wide range of their products in Lowe's stores and on Lowes.com starting in the second half of 2023.

How will the partnership with Klein Tools benefit Lowe's?

The partnership aims to enhance Lowe's Pro product lineup, drive customer traffic, and provide the widest selection of Klein Tools available in the home improvement retail market.

What types of products will Klein Tools provide to Lowe's?

Klein Tools will supply hand tools, electrical testing tools, and other innovative products designed for professionals across various trades.

What fiscal sales figures did Lowe's report for 2021?

Lowe's reported total fiscal year sales of over $96 billion for 2021, with approximately $90 billion generated in the U.S.