Sears Puts Kenmore, Craftsman On the Block

Craftsman frontBeleaguered retail giant Sears Holdings registered another loss in the second quarter, has received interest from a variety of players covetous of their iconic private brands.

The retailer who has reported negative numbers for the last six fiscal years announced plans earlier this year to seek buyers or partners for its Kenmore, Craftsman and DieHard private brands. Their goal is over course to exploit what may be the last truly valuable asset they own. Sears provided an update on Thursday, saying it continues to explore strategic alternatives for the brands. The retailer is considering “potential partnerships or other transactions that could expand distribution of our brands and service offerings to realize significant growth,” the company said in a statement.

To date, Sears has had interest from U.S. and international retailers, manufacturers, investors and other firms but Sears expects to continue its evaluation over the next few months.

Sears already has a partnership with Ace Hardware, Grainger, Costco and Orchard Supply to sell Craftsman products.

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Christopher Durham
Christopher Durham is the president of My Private Brand and the co-founder of The Vertex Awards. He is a strategist, author, consultant and retailer who built brands at Delhaize-owned Food Lion, and lead strategy and brand development for Lowe’s Home Improvement. He has consulted with retailers around the world on their private brand portfolios including: Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro (Canada), TLW (Taiwan) and Hola (Taiwan). Durham has published five definitive books on private brands, including his first book, Fifty2: The My Private Brand Project. In 2017, he will debut his newest book, Vanguard: Vintage Originals, a visual tour of innovation and disruption in private brand going back to the mid-1800’s. Dynamic in his presentation while down to earth and frank in his opinions, he has presented at numerous conferences, including FUSE, The Dieline Conference, Packaging that Sells, Omnishopper and PLMA’a annual trade show in Chicago. Durham lives in Charlotte, NC with his wife, Laraine, and two daughters, Olivia and Sarah.