Is Klein Tools Leaving Home Depot? Find out the latest updates on Klein Tools’ potential departure from Home Depot and the impact of their new partnership with Lowe’s.
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Is Klein Tools Leaving Home Depot?
Klein Tools, a well-known brand for electrical tools and accessories, is indeed parting ways with Home Depot. Signs of this separation are becoming evident in various Home Depot stores, where most of the Klein Tools products have been put on clearance. While not all Klein tools have been discounted yet, it’s clear that the brand is gradually being phased out from Home Depot’s offerings.
The shift in Klein Tools’ presence at Home Depot is a result of their new partnership with Lowe’s, which was announced earlier this year. This collaboration will bring a significant presence for Klein Tools at Lowe’s stores and online platforms starting in the second half of 2023. As a result, Lowe’s will become the go-to destination for Klein Tools products, offering the widest selection of their items in the home improvement retail market.
Klein Tools Leaving Home Depot
After a long-standing 14-year exclusivity arrangement between Klein Tools and Home Depot, it seems that the iconic tool brand might be parting ways with the home improvement giant. Signs of this potential departure have become evident in many Home Depot stores, where a wide range of Klein electrical tools and accessories have been put on clearance.
While not all Klein tools have been discounted yet, this clear-out is seen as a significant indicator of a shift in the retailer’s product offerings. The reason behind this move lies in the recent partnership announcement between Lowe’s and Klein Tools, which promises to bring a vast selection of Klein products to Lowe’s stores and website in the second half of 2023.
This new partnership marks the end of Klein’s exclusivity arrangement with Home Depot, leaving room for Lowe’s to become the new hub for Klein Tools products in the home improvement retail channel.
Klein Tools
Klein Tools is an American company headquartered in Lincolnshire, IL, specializing in the manufacturing of hand tools. It has gained immense popularity among professionals in the electrical and telecommunications industries. In fact, the company’s reputation is so strong that in the past, Lineman’s pliers were commonly referred to as “Kleins,” becoming a genericized trademark.
With a diverse range of offerings, Klein’s catalog boasts over 5,000 different tools, including an impressive selection of 165 types of pliers, along with screwdrivers, nut drivers, wire pulling and stripping tools, crimping tools, scissors, snips and shears, cable and bolt cutters, electrical test and measurement tools, conduit benders, personal protective equipment, and tool bags. Notably, Klein also offers a high-end line of tools under its Journeyman label, catering to the discerning needs of professionals in various industries.
The Home Depot
The Home Depot, Inc., commonly known as Home Depot, is a prominent American multinational corporation specializing in home improvement retail. The company offers a wide range of products and services, including tools, construction materials, appliances, and rental services for fuel and transportation.
As the largest home improvement retailer in the United States, Home Depot achieved remarkable success, with over 490,600 employees and revenue exceeding $151 billion in 2021. The company’s headquarters are situated in incorporated Cobb County, Georgia, with an Atlanta mailing address.
Operating a significant number of big-box format stores, Home Depot serves customers across various locations, including all 50 states of the United States, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. Additionally, the company has an extensive presence in Canada, covering all 10 provinces, as well as Mexico, where it operates across all 32 states and Mexico City.
The Home Depot also owns The Home Depot Pro, formerly known as Interline Brands, an MRO (Maintenance, Repair, and Operations) company with 70 distribution centers across the United States. While the company has achieved immense success, it has faced various controversies related to the safety and security of its consumers. Despite challenges, Home Depot remains a significant global employer, ranking as the sixth-largest employer based in the United States on a global scale.
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Categories: General
Source: HIS Education