Projected U.S. Home Improvement Industry Revenue to Reach $400 Billion Annually - Seite 2

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) BREAKING NEWS:  TOUGHBUILT AWARDED OVER $22 MILLION IN NEW BUSINESS FROM LOWE'S - ToughBuilt Industries today announced that Lowe's has awarded a portion of its soft sided tool storage business and all of  the kneepad business to ToughBuilt, to be launched at their nationwide stores and online www.lowes.com for October 2020. There will be 30 SKUs and ongoing total annual forecast of $22.7 million dollars.

Lowe's is a FORTUNE 50 company and highly trusted purveyor in the $460 billion home improvement market with 2,200 locations across the United States and Canada. Lowe's is one of the top home improvement centers in the world and opened its first location almost 100 years ago.

The categories that will be launched include new innovative bags, CLIPTECH pouches and a full line of knee protection products. Some of these products will be under the TOUGHBUILT brand, and some will be under the highly recognized and regarded Lowe's in-house brand KOBALT.  These new and exciting Kobalt and ToughBuilt products will join the existing and well-received line-up of tools and other accessories already for sale at Lowe's stores nationwide and on their website.

Michael Panosian, Chief Executive Officer of ToughBuilt, commented, "We are honored for the opportunity of partnering with Lowe's and to receive a portion of the soft sided tool storage and workwear kneepad business. With the launch of thirty products side by side with the well known Kobalt brand, this launch will enhance our brand awareness nationally and significantly broaden customers' access to our high quality and pro trusted line of products. We are absolutely committed to building a best-in-class omni-channel experience and having these products at Lowe's stores.  I would like to take this opportunity to thank Lowe's management and their dynamic buying team for all their guidance and support in putting this unique best in class program together." 

The agreement with Lowe's will result in a rollout of products, estimated at $22,705,642 in sales for the first 12-months following the launch. The Kobalt-branded products include 12 items representing approximately $7.3 million in sales, and the ToughBuilt products include 18 items representing an estimated $15.3 million in sales.

Other recent developments in the markets this week include:

The Home Depot, Inc. (NYSE: HD) the world's largest home improvement retailer, is hiring 80,000 associates this spring in preparation for its busiest season of the year. Over the next several months, jobseekers can apply for both full-time and part-time positions close to home, as 90 percent of the U.S. population lives within 10 miles of a Home Depot store.