Tony Croucier
Mar 6, 20151 min
The companies said in a joint news release that Sherwin-Williams paint, including a new brand called HGTV Home, will be available at Lowe's stores and on Lowes.com beginning in March 2015.
“The HGTV Home by Sherwin-Williams product line will feature a new and improved interior and exterior paint program available at both Sherwin-Williams' company stores and Lowe's stores nationwide, as well as exclusive line extensions available at Lowe's,” according to the release. Each product line “will uniquely highlight Sherwin-Williams' legendary heritage of quality and exceptional application characteristics,” the companies said.
"Lowe's is a recognized leader in home improvement and a preferred project destination for homeowners and pros, alike," said Chris Connor, chairman and CEO of Sherwin-Williams, in a statement. “Offering the HGTV Home by Sherwin-Williams brand at Lowe's is a perfect complement to the high quality product assortment and shopping environment Lowe's shoppers have come to expect."
Additionally, Sherwin-Williams will provide Lowe's with two independent brands of paint that will serve professional painters and property managers: Painter's Masterpiece and Property Advantage.
Bloomberg reported that Sherwin-Williams’ big deal comes as a rival, Valspar, is losing ground.
Valspar on Nov. 25 “said it lost paint business generating $150 million to $180 million in annualspecified North American retailer,” Bloomberg reported. “Analysts at RBC Capital Markets and KeyBanc Capital Markets said in notes that Valspar probably lost business at Lowe’s.”