Lowe's Offers Chance of a Lifetime to Hundreds of Diverse Small Businesses with Virtual Pitch Program, hosted by Shark Tank's Daymond John

Rhea-AI Summary

Lowe's has partnered with Daymond John from ABC's Shark Tank to launch Making It… With Lowe's, a program aimed at providing diverse small businesses an opportunity to pitch their products directly to Lowe's. From Sept. 15 to 25, entrepreneurs can apply for a chance to be featured online and in stores. The initiative includes mentorship, culminating in a virtual pitch challenge where five finalists can partner with Lowe's. This builds on Lowe's commitment to diversity, highlighted by a recent $55 million increase in its small business grant program.

Positive

• Introduction of the Making It… With Lowe's program, promoting diversity in business.
• Offering mentorship and direct access to a Fortune 50 retailer.
• Increased small business grant program to $55 million supporting minority and women-owned businesses.

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• None.

MOORESVILLE, N.C., Sept. 15, 2020 /PRNewswire/ -- Every day, small businesses across America struggle to get their products in front of a company or business leader who can propel them forward, into the hands of the masses – and entrepreneurs from underrepresented communities face even tougher obstacles. Today, Lowe's and Daymond John, star of ABC's Shark Tank and a New York Times best-selling author, are creating opportunities for diverse small businesses to pitch their products to a Fortune 50 company, providing the platform and letting the entrepreneur do the rest. 

Making it… With Lowe's invites hundreds of entrepreneurs to break through traditional processes and pitch their products directly to Lowe's for a chance to be sold on Lowes.com and in Lowe's physical stores, providing customers unprecedented access to the most innovative home improvement products they may never have found otherwise.

From Sept. 15 through Sept. 25, diverse small business owners can apply on Lowes.com/MakingItWithLowes. After Lowe's identifies an initial 375 small businesses, the pool will narrow to 75 who will be invited to submit more in-depth stories via video. Along the way, it also provides a shot at gleaning mentoring, advice and support from a FORTUNE® 50 retailer committed to boosting the very backbone of America's economy.

The search will culminate in a one-day virtual pitch challenge hosted by Daymond John where five diverse small business owners will pitch their product "live" to Lowe's CEO and other executives for the chance to become a Making It… With Lowe's small business partner. Leading up to the pitch, Daymond John will mentor the group as they prepare for their biggest pitch ever.

"Making It With Lowe's is giving these minority-owned businesses a much-deserved chance to shine while uncovering unique, smart products that will make Lowe's shelves even more appealing to customers," said Daymond John of ABC's Shark Tank. "The pandemic has created a situation where business owners are constantly pivoting and deepening their creativity and problem-solving abilities, especially minority-owned businesses who have more at stake, more to lose. I can't wait to get started."

Today's announcement builds on Lowe's commitment to diversity and inclusion. In July, the home improvement retailer more than doubled its small business grant program to $55 million, providing much-needed financial relief to minority-, women-owned and rural small businesses. The donation has fueled emergency grants in historically underserved communities to help small business owners navigate challenges during the pandemic.

"When Lowe's introduced our grant program for minority-, women- and rural-owned small businesses impacted by the pandemic earlier this year, we were humbled by the overwhelming response for the grants and we were impressed by the creativity, passion and vision from hundreds of thousands of applicants – and we instantly knew we wanted to do more," said Lowe's President and CEO Marvin R. Ellison. "Offering our customers greater access to products being created by diverse small business owners allows Lowe's digital and physical shelves nationwide to better reflect the diverse communities we serve and ensures our customers have access to the most innovative and valued home improvement products in the marketplace."

Lowe's is encouraging innovative, startup suppliers who offer retail products in both home improvement and non-traditional home improvement product categories to apply. Categories being considered include farm and ranch equipment, microban or antimicrobial products, accessible home, touchless products, home gardening, home décor product and more.

The finalists will be announced and featured on Lowes.com later this year, and the Making It … With Lowe's results will be revealed on Lowe's social channels in early 2021.

To learn more, visit Lowes.com/MakingItWithLowes.

About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. With fiscal year 2019 sales of $72.1 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ 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.

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SOURCE Lowe's Companies, Inc.

FAQ

What is the <i>Making It… With Lowe's</i> program?

A new initiative by Lowe's, in partnership with Daymond John, allowing diverse small businesses to pitch their products for potential sale at Lowe's.

When can small businesses apply for <i>Making It… With Lowe's</i>?

Applications are open from September 15 to 25, 2020.

How many businesses will be selected in the <i>Making It… With Lowe's</i> program?

Initially, 375 businesses will be selected, narrowing down to 75 for further evaluation.

What financial support has Lowe's increased for small businesses?

Lowe's has expanded its small business grant program to $55 million.

Who is mentoring the small business participants in <i>Making It… With Lowe's</i>?

Daymond John from ABC's Shark Tank will mentor the participants leading up to the pitch.