Another iconic brand from our youth is transferring hands.
Craftsman Tools is heading towards Stanley Black and Decker. Will they resurrect this old school brand or drive a stake into to finish it off?
I imagine that for a $525 Million upfront cash payment to Sears for the Craftsman Tool Brand (and further structured payments there after) – that Stanley plans on utilizing the brand. (Otherwise that would be one hell of an expensive stake)
Curious to see how they move forward with the resurrection.
In the mid 90’s when I first got into the trades – Craftsman was the first and only brand that came to mind to buy because that is what I grew up around. Seemed that near the end of the 90’s their tools leaned more towards the junky and less precise so I eventually headed towards Stanley and DeWalt.
For Craftsman to resurge one would think that they would have to touch on the nostalgia aspect people like I have for the brand from growing up handing tools to dad while at the same time making the tools cool so the younger class of tradesmen will pick them up at the supply houses and talk about the tools.
While Stanley, Black & Decker and DeWalt are strong brands in and of themselves – there is something to be said for the Milwaukee line of tools that have been take step after step in the right direction of innovation and toughness.
As mentioned earlier, with the amount of money invested in the purchase of Craftsman Tools – hopefully its a win win situation for everyone with tools continuing to be more innovative, reliable and safe.