NEW BRITAIN – The Craftsman brand is re-launching with the introduction of 1,200 redesigned tools and products made by Stanley Black & Decker.
Last week, through a press release, Craftsman announced these products as the next generation of its brand. The new line of products is the result of Stanley Black & Decker’s purchase of the Craftsman brand from Sears Holdings Corporation last year. The purchase gave Stanley Black & Decker the right to manufacture and sell Craftsman products outside of Sears. Stanley’s purchase of the Craftsman brand was announced on January 5, 2017. The transaction was made for a net value of around $900 million in cash. Stanley made a $525 million cash payment to Sears Holdings at closing and will make a $250 million payment at the end of the third year. In addition, Stanley will make yearly payments to Sears Holdings of between 2.5 percent and 3.5 percent on new Stanley Black & Decker sales of the Craftsman brand through year 15.
The new product line includes categories such as power tools, equipment and accessories, hand tools, storage and organization solutions, lawn and garden power equipment, mechanic and automobile tools.
“For generations, CRAFTSMAN has been the brand that helps consumers reach their moment of achievement,” Allison Nicolaidis, chief marketing officer, global tools and storage at Stanley Black & Decker, said. “With the revitalization of the brand, we’re focused on delivering superior quality tools and products to continue this tradition, like never before. Additionally, it will be easier than ever for our customers to get the tools trusted for generations,” Nicolaidis added.
The Craftsman products will also have a new look with an updated brand identity and logo.
“Today’s CRAFTSMAN brand revives our long-established pride in top-level quality with high quality products that will make a difference in the lives and jobs of customers,” said Tabata Gomez, Vice President Brand Marketing at Stanley Black & Decker. “We take pride in understanding what matters and drives our customers, and are proud to continue supporting their doer mentality,” added Gomez.
The Craftsman product sales were started in 1927 focusing on high performance tools, storage and equipment. According to Craftsman’s website, in 1940, the company’s power tool sales increased 1,550 percent since their introduction, and in 1941, various aircraft schools were using Craftsman hand tools to train technicians.
To learn more about the brand visit craftsman.com
Karla Santos can be reached at 860-801-5079 or firstname.lastname@example.org.