Hoffman Estates-based Sears Holdings selected Leveraged Marketing Corporation of America as its exclusive global licensing agent for the company’s Private Brands: Kenmore, Craftsman and DieHard brands.
The agreement with LMCA supports Sears’ plans to extend the Kenmore, Craftsman and DieHard brands to new product categories and geographic markets, both within Sears Holdings and externally. LMCA will work closely with the company to identify, evaluate and manage licensing opportunities around the world.
“This global licensing initiative for Kenmore, Craftsman and DieHard is aligned with our plans to strategically utilize our brands and other key assets to increase their long-term value,” said Lou D’Ambrosio, Sears Holdings’ chief executive officer and president. “We will continue to focus on delivering the quality and value of three of America’s most iconic brands to our customers and members, enhancing our company’s position as a leading integrated retailer.”
Michael Castleman, president of Kenmore, Craftsman and DieHard division, added the LMCA’s experience in corporate trademark licensing is a good fit with the company’s said its strategy “to build the strength of Kenmore, Craftsman and DieHard brands center on outstanding quality and reaching new customers and creating new brand enthusiasts, both in the U.S. and abroad,”
Allan Feldman, president and CEO of LMCA said his company is excited to be working with Sears.
“We believe some of the most successful and innovative companies in the world will be interested in licensing them. With over 70 percent of the Fortune 500 already licensing their brands to create new revenue streams more efficiently,” Feldman said.
It remains to be seen whether this move by the once great retailer is a brilliant way to leverage and grow its Private Brand assets or simply one of the last gasps of a dying company.