LOWE'S 'INTO THE BLUE: PRODUCT PITCH EVENT' RETURNS, INVITING ENTREPRENEURS AND BUSINESS OWNERS TO APPLY FOR OPPORTUNITY TO BECOME LOWE'S SUPPLIERS

Rhea-AI Summary

Lowe's announces the return of its product sourcing event, "Into the Blue," inviting entrepreneurs and businesses to apply until March 20, 2023. The event aims to discover innovative products for Lowe's stores, following last year's success with 270 suppliers and over 170 new vendors onboarded. Lowe's will invest up to $5 million in purchase orders for selected participants, who will showcase their products at the live event on June 13. With $97 billion in total sales for fiscal year 2022, Lowe's seeks to expand its vendor network and enhance customer offerings. More details can be found at Lowes.com/Suppliers.

Positive

• Opportunity for entrepreneurs to pitch products to a major retailer.
• Lowe's invested up to $5 million in purchase orders through the event.
• Successful onboarding of 170 new vendors from the previous event.

Negative

• None.

Innovative suppliers of all sizes can apply for company's largest and most impactful live sourcing event now through March 20

MOORESVILLE, N.C., March 6, 2023 /PRNewswire/ -- For the second time, Lowe's is calling on entrepreneurs and businesses of all sizes nationwide and internationally to apply for "Into the Blue: Lowe's Product Pitch Event," the home improvement retailer's largest and most impactful live product sourcing event. Now through March 20, interested businesses with ready-for-market products can apply at Lowes.com/Suppliers.

"Last November, Into the Blue left us inspired and motivated by hard-working entrepreneurs looking for an opportunity to reach a larger audience," said Bill Boltz, executive vice president, merchandising. "We couldn't wait to do it again, so while we continue to work with last year's winners to bring their products to market, we're once again issuing the call to meet with more business owners and uncover products that will ultimately bring the latest innovations in home improvement to our customers."

The inaugural Into the Blue event was held in 2022, during which 270 suppliers were selected to pitch their products live to Lowe's merchandising team. As a result, Lowe's is now proudly onboarding over 170 new vendors in each of our merchandising business areas, home décor, hardlines and building products. Lowe's is eager to continue the momentum by discovering and partnering with an expanded group of innovative entrepreneurs, making the process of becoming a Lowe's vendor even more accessible.

Lowe's will invest up to $5 million in purchase orders with businesses selected through this event*, along with the opportunity to have their products sold through more than 1,730 retail stores and online at Lowes.com.

"Lowe's Into the Blue event was the most exciting highlight for our company yet," said P.J. Ferguson, 2022 Lowe's Into the Blue participant and creator of the Skidger Xtreme Weeder, which will soon be sold in all Lowe's stores. "Being given the chance to work with professionals who genuinely want us to succeed really sets Lowe's apart. This is the kind of opportunity inventors and innovators dream of, so for us it has truly been a dream come true."

In addition to live product pitches, the in-person event on June 13 will feature extensive networking opportunities, a supplier fair and educational breakout sessions.

Prospective suppliers selected to attend will be notified by the first week in April. Visit Lowes.com/Suppliers for complete entry terms and to apply to participate in the program.

*Contingent on meeting Lowe's supplier requirements, including completion of due diligence and agreement 

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 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.

Contact: Cara McAteer

Lowe's Companies, Inc.

Cara.McAteer@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

What is the deadline for applying to Lowe's Into the Blue event?

The deadline to apply for Lowe's Into the Blue event is March 20, 2023.

When is the Lowe's Into the Blue product pitch event scheduled?

The Lowe's Into the Blue product pitch event is scheduled for June 13, 2023.

How much will Lowe's invest in selected suppliers from the Into the Blue event?

Lowe's will invest up to $5 million in purchase orders for selected suppliers.

How many new vendors did Lowe's onboard after the last Into the Blue event?

Lowe's onboarded over 170 new vendors after the last Into the Blue event.

Where can businesses apply to participate in Lowe's Into the Blue event?

Interested businesses can apply at Lowes.com/Suppliers.