Lowe's to Launch Exclusive Partnership with EGO, Expands Outdoor Power Offering

Rhea-AI Summary

Lowe's (NYSE: LOW) announced an exclusive partnership with EGO, the leading brand in battery-powered outdoor power equipment, commencing December 2020. Lowe's will offer EGO's innovative products like mowers, blowers, and trimmers at all U.S. stores by February 2021. The EGO lineup features advanced 56V ARC Lithium™ technology, promising performance that rivals gas-powered tools. Additionally, Lowe's will introduce SKIL battery-powered equipment in late 2020, enhancing its commitment to sustainable products. This move solidifies Lowe's position as a leader in outdoor power equipment.

Positive

• Exclusive partnership with EGO enhances Lowe's outdoor power equipment portfolio.
• EGO products feature advanced 56V ARC Lithium™ technology, outperforming gas alternatives.
• Focus on sustainable products aligns with market trends towards eco-friendly solutions.

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• None.

MOORESVILLE, N.C., July 22, 2020 /PRNewswire/ -- Lowe's Companies, Inc (NYSE: LOW), the leading retailer in outdoor power equipment, today announced that it is expanding its industry-leading portfolio of outdoor power brands as it launches EGO, the number one brand in battery-powered outdoor power equipment. Beginning in December 2020, Lowe's will be the exclusive nationwide home center to offer the top-rated line of EGO's high-quality and innovative battery-powered mowers, blowers, string trimmers, hedge trimmers, edgers, chainsaws and snowblowers.

EGO products will be available online at Lowes.com and in select stores in fall 2020 and will roll out to all U.S. stores nationwide by February 2021, furthering the company's commitment to offering more sustainable products in its assortment. The battery-powered, cordless line of outdoor power equipment is capable of matching or exceeding the performance of conventional gas items, without the noise and fumes.

In addition, Lowe's will begin offering select SKIL battery-powered outdoor power equipment in late 2020 including push and self-propelled mowers, leaf blowers, string and hedge trimmers, among other products and accessories.

"We are relentless in bringing the best quality, innovation and brands to our consumers, and today's announcement is another bold step forward in our pursuit of bringing the best outdoor power equipment offering to our stores," said Bill Boltz, executive vice president of merchandising for Lowe's. "EGO is an undisputed industry leader in creating cutting-edge technology and design. This line of cordless power equipment is trusted by both DIY and Pro customers to take on any lawn and garden project, with convenience and ease."

"Chervon is excited to extend our partnership with Lowe's to include EGO, the #1 rated brand in cordless outdoor power equipment," said Mike Clancy, CEO Chervon North America. "We also look forward to the nationwide introduction of the all new SKIL 40V, 20V and 12V lineups."

EGO's award-winning roster of mowers, blowers, string trimmers, chainsaws, snow blowers and more are powered by its 56V ARC Lithium™ technology – the most advanced in the industry.

Notable EGO products include:

• EGO POWER+ 21" Select Cut Self-Propelled Mower: the first cordless mower to exceed the power of gas.
• EGO POWER+ 650 CFM Blower: the most powerful cordless blower in the industry (gas or cordless).
• EGO POWER+ 15" String Trimmer w/ Powerload Technology: the world's first trimmer that makes replacing the line as easy as pressing a button.
• EGO POWER+ Nexus Portable Power Station: the world's first battery platform-compatible alternative to gas generators.

Earlier in the year, Lowe's further cemented its position as a leader in outdoor power equipment with the launch of Honda Power Equipment and an exclusive partnership that makes Lowe's the only nationwide home center to offer Ariens ZTR mowers and snow products. Lowe's continues to offer leading brands across all outdoor power equipment categories with John Deere, Craftsman, Husqvarna, Honda, Ariens, and now EGO and SKIL.

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.

About EGO
Chervon, the parent company of EGO, SKIL and FLEX is committed to building a better world by building better tools. Over the past 25 years, Chervon has experienced tremendous growth thanks to a constant flow of new to the world innovation and is now considered the industry leader in advanced Lithium Ion battery technology. Chervon products are sold by more than 30,000 stores in 65 countries making Chervon one of the largest players in the global power tool and outdoor power equipment markets.  For more information please visit CHERVON on-line at www.chervongroup.com.

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SOURCE Lowe's Companies, Inc.

FAQ

When will Lowe's start offering EGO products?

Lowe's will begin offering EGO products in December 2020, with nationwide availability expected by February 2021.

What is the significance of Lowe's partnership with EGO?

The partnership allows Lowe's to offer the leading brand in battery-powered outdoor equipment, increasing its competitive edge in the market.

What types of products will Lowe's offer from EGO?

Lowe's will offer a range of EGO products including mowers, blowers, string trimmers, and snow blowers.

How does Lowe's outdoor power equipment offering compare to traditional gas products?

EGO's battery-powered products are designed to match or exceed the performance of conventional gas items, without the noise and fumes.

What other brands will Lowe's feature in its outdoor power equipment range?

In addition to EGO, Lowe's will feature SKIL and has existing partnerships with brands like Honda, John Deere, and Craftsman.