Sears loses Whirlpool and Craftsman, deepening its retail decline
Sears has lost two major brands in recent months, further weakening its position in the retail market. The company sold Craftsman to Stanley Black & Decker for $900 million earlier this year, and its long-standing partnership with Whirlpool for appliance sales has now ended. Meanwhile, rivals like Lowe's are expanding their product lines, adding pressure on the struggling retailer.
Sears and Whirlpool ended their century-long partnership in appliance sales, cutting off a key revenue stream. The split follows years of declining market share for Sears, which once dominated the sector. Kenmore, its flagship appliance brand, has fallen from a top position in the early 2000s—holding 10-15% of the market—to near irrelevance by 2026. Factors like Sears' bankruptcy in 2018, competition from Walmart, Amazon, and Home Depot, and the rise of direct-to-consumer brands such as LG and Samsung have all contributed to this decline.
Sears also sold the Craftsman brand, a well-known American toolmaker since 1927, to Stanley Black & Decker for $900 million. The brand's availability at Sears had already suffered due to store closures and falling customer traffic. Lowe's has since acquired the rights to sell Craftsman tools in the U.S., Canada, and online starting in late 2018. This move will not affect Craftsman's presence at other retailers like Ace Hardware, but it will give Lowe's a competitive edge over Home Depot.
Sears' recent deal with Amazon to sell Kenmore appliances has been viewed as a minor boost at best. Industry analysts doubt it will significantly improve sales, especially as Lowe's, Home Depot, and Sears together control about 58% of the appliance market. Sears' share now stands at roughly 13%, a far cry from its former dominance.
The loss of Whirlpool and Craftsman deals leaves Sears with fewer exclusive brands to draw customers. Lowe's expansion into Craftsman sales could further reduce Sears' market influence. With Kenmore's decline and limited gains from the Amazon partnership, the retailer faces an uphill battle in regaining its former strength.
Read also:
- How America's Fast Food Habit Is Harming Long-Term Health
- Kent Construction Expo unites industry leaders for a decade of growth and innovation
- North Rhine-Westphalia's exports tumble 8.5% in June 2019 amid global demand slump
- Northern Ireland urged to repurpose roads for walkers and cyclists amid lockdown
