Lowe’s has been the exclusive carrier of Stainmaster products for the last decade. The deal includes all brand-related intellectual property and all related trademarks and sub-brands from parent company Invista. The acquisition price was not disclosed.
The acquisition reveals Lowe’s is continuing to expand its Lowe’s Total Home strategy by expanding its private label offerings. Lowe’s has experienced significant growth throughout the Covid-19 pandemic, with its stock rising more than 26% in 2021 so far, according to MarketWatch.
Lowe’s other private labels include Harbor Breeze and Project Source. Private labels have taken off over the last several years, accelerated by changing consumer preferences during the pandemic. And retailers across the industry have been investing in new private label brands.
“Lowe's is excited to have STAINMASTER join our family of private brands, alongside the likes of allen + roth, Project Source and Harbor Breeze," Sarah Dodd, Lowe's senior vice president of global merchandising, said in a statement.. "Research shows STAINMASTER is the soft-surfaces brand customers trust the most when shopping for flooring. This acquisition further demonstrates our commitment to deliver a compelling product assortment for customers wherever they choose to shop with us."
The acquisition comes on the heels of Lowe’s store improvements to cater to pros, with more store credit options, as well as retrofitted areas with convenience products and shopping experiences for faster checkouts.