What Companies Are Behind the Craftsman Brand Today?
The Craftsman brand, known for its high-quality tools and equipment, is currently owned by Stanley Black & Decker. Following its acquisition in 2017, Stanley Black & Decker has revitalized the brand, expanding its product range and distribution channels while maintaining the legacy of quality that Craftsman is known for.
The History of Craftsman
Founded in 1927, Craftsman began as a line of hand tools sold through Sears, Roebuck and Co. Over the decades, it became synonymous with reliability and craftsmanship. The brand built a loyal customer base due to its lifetime warranty on hand tools and commitment to quality.
Acquisition Timeline
- 1927: Craftsman is introduced by Sears.
- 2017: Stanley Black & Decker acquires the Craftsman brand from Sears for $945 million.
- Present: Craftsman products are now available at various retailers, including Lowe’s and Ace Hardware.
Stanley Black & Decker’s Role
Stanley Black & Decker has played a pivotal role in revitalizing the Craftsman brand. Their strategic initiatives include:
- Product Expansion: Introducing new power tools, outdoor equipment, and storage solutions under the Craftsman name.
- Retail Partnerships: Expanding availability through major retailers, enhancing accessibility for consumers.
- Quality Assurance: Maintaining rigorous quality standards to uphold the reputation of the Craftsman name.
New Product Lines
Under Stanley Black & Decker’s stewardship, Craftsman has launched several innovative product lines:
- Cordless Power Tools: Featuring advanced lithium-ion technology for improved performance.
- Outdoor Equipment: Including lawn mowers, trimmers, and blowers designed for both residential and commercial use.
- Tool Storage Solutions: Enhanced toolboxes and storage systems that cater to both DIY enthusiasts and professionals.
The Impact of Acquisitions on Brand Identity
The acquisition by Stanley Black & Decker has not only expanded the product offerings but also reinforced the brand identity of Craftsman. By leveraging their extensive manufacturing capabilities and distribution networks, they have ensured that Craftsman remains competitive in a rapidly evolving market.
Customer Perception
Consumers continue to perceive Craftsman as a trusted brand due to:
- Heritage: Its long-standing history in the tool industry.
- Warranty Programs: Continued commitment to lifetime warranties on many hand tools.
- Innovative Features: Incorporation of modern technology in traditional products.
Latest News
Recent developments regarding the Craftsman brand include:
- Expansion of product lines to include smart tools equipped with Bluetooth technology for enhanced connectivity.
- Launch of a new marketing campaign focusing on DIY projects, showcasing the versatility of Craftsman tools.
- Introduction of eco-friendly outdoor equipment aimed at reducing carbon footprints while maintaining performance.
Expert Comment
“The revitalization of the Craftsman brand under Stanley Black & Decker is a testament to the enduring legacy of quality that consumers expect. By innovating while respecting tradition, they are positioning Craftsman as a leader in both the DIY and professional markets. As we move forward, we anticipate even more advancements that will enhance user experience and product reliability.”