warmpancakes
Well-known member
Sears holding sold craftman not sears the retail store if the retail store goes kaput sears holding still exist, Eddie didnt become a billionaire being dumb
Stanley Black & Decker buys Craftsman
- Thread starter Parrothead
- Start date
Schurkey
Well-known member
I showed-up in my local Sears for the first time in years.
1. No cars in the parking lot. I got a great parking place.
2. "Now Hiring" signs on the entry doors.
3. HUGE (YUUUGE?) cardboard display crates for what looked like leftover Christmas "promo" ****. Screwdriver sets. Wrench sets. Socket-and-ratchet sets. Knife sets. "Craftsman" Bar-B-Que tool sets. Cartons and cartons of the SAME STUFF. Makes me think they've transferred stock from the store 80 miles from here that just announced they were closing.
4. The rest of the tool selections were a wasteland of empty pegs. You know, the sort-of pegboard hooks that they hang the plastic clamshell product wrappers on. Bare. Deserted. Desolate. I bet 1/10 of the hooks were empty.
5. The bigger tool sets--hundreds of sockets and wrenches and stuff--were "display boxes" that had no Country Of Origin info on them. Bastages.
6. I damn near bought a ratcheting angled box end to replace one that has gone missing. Ten dollars, Made in USA, 3/8-7/16. Considering going back to get it.
7. I damn near bought a "butterfly" impact wrench. Was $59, now $19. No COO on the tool on display, no boxes in the locked-up cabinet underneath. Apparently the display unit is the last one one in the store. If there were COO, and it wasn't ChiCom, it'd be mine.
8. I wandered around the Lawn "n" Garden section. ChiCom chain saws. ChiCom weed wackers. ChiCom leaf blowers. The crappiest snow blowers you can imagine. Really. I can't believe what Sears thinks a snow blower should look like. I can't judge a good lawn tractor or riding mower; far as I know they're all garbage (but I could be wrong.) Made-In-USA non-Ethanol two-stroke gasoline sold by the quart for near $7. That's $28 per gallon for fukkin' regular unleaded non-ethanol gasoline; and there's no guarantee it isn't polluted with MTBE along with the cheapest recycled motor oil they could get to dissolve into the gasoline. THAT'S what Stanley wants? They paid close to a billion dollars to market the shittiest lawn 'n' garden **** available today? They could have contracted for ****** lawn 'n' garden **** from...anyone...painted it red and labeled it "Craftymen" the same way HF knocked-off Chicago Pneumatic with Pittsburg Pneumatic, or Chicago Electric. SBD must be run by retards.
Going back to #2 for a moment: Sears is hiring. They're not being hired to work there as some sort of long-term job. I think Sears is hiring people TO PACK UP AND CLOSE THE STORES. They'll load the inventory and maybe some fixtures--display cases and such--onto trucks to ship to the few remaining open stores. They'll mop the floors, paper-over the windows, turn out the lights, and lock the doors. I give my local store about a month.
Abandon All Hope, Ye Who Yearn for Crapsman
1. No cars in the parking lot. I got a great parking place.
2. "Now Hiring" signs on the entry doors.
3. HUGE (YUUUGE?) cardboard display crates for what looked like leftover Christmas "promo" ****. Screwdriver sets. Wrench sets. Socket-and-ratchet sets. Knife sets. "Craftsman" Bar-B-Que tool sets. Cartons and cartons of the SAME STUFF. Makes me think they've transferred stock from the store 80 miles from here that just announced they were closing.
4. The rest of the tool selections were a wasteland of empty pegs. You know, the sort-of pegboard hooks that they hang the plastic clamshell product wrappers on. Bare. Deserted. Desolate. I bet 1/10 of the hooks were empty.
5. The bigger tool sets--hundreds of sockets and wrenches and stuff--were "display boxes" that had no Country Of Origin info on them. Bastages.
6. I damn near bought a ratcheting angled box end to replace one that has gone missing. Ten dollars, Made in USA, 3/8-7/16. Considering going back to get it.
7. I damn near bought a "butterfly" impact wrench. Was $59, now $19. No COO on the tool on display, no boxes in the locked-up cabinet underneath. Apparently the display unit is the last one one in the store. If there were COO, and it wasn't ChiCom, it'd be mine.
8. I wandered around the Lawn "n" Garden section. ChiCom chain saws. ChiCom weed wackers. ChiCom leaf blowers. The crappiest snow blowers you can imagine. Really. I can't believe what Sears thinks a snow blower should look like. I can't judge a good lawn tractor or riding mower; far as I know they're all garbage (but I could be wrong.) Made-In-USA non-Ethanol two-stroke gasoline sold by the quart for near $7. That's $28 per gallon for fukkin' regular unleaded non-ethanol gasoline; and there's no guarantee it isn't polluted with MTBE along with the cheapest recycled motor oil they could get to dissolve into the gasoline. THAT'S what Stanley wants? They paid close to a billion dollars to market the shittiest lawn 'n' garden **** available today? They could have contracted for ****** lawn 'n' garden **** from...anyone...painted it red and labeled it "Craftymen" the same way HF knocked-off Chicago Pneumatic with Pittsburg Pneumatic, or Chicago Electric. SBD must be run by retards.
Going back to #2 for a moment: Sears is hiring. They're not being hired to work there as some sort of long-term job. I think Sears is hiring people TO PACK UP AND CLOSE THE STORES. They'll load the inventory and maybe some fixtures--display cases and such--onto trucks to ship to the few remaining open stores. They'll mop the floors, paper-over the windows, turn out the lights, and lock the doors. I give my local store about a month.
Abandon All Hope, Ye Who Yearn for Crapsman
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nickjj
Well-known member
Surely people only liked Craftsman because it could be bought locally and if anything broke tools could be exchanged locally?
Without the Sears stores, it's just another Stanley rebrand?
nickjj
Well-known member
The airtools have been imported for years.
Ign
Well-known member
I thought it was TTI but can't back that up with solid proof at the moment.
The Nextec stuff is cool but they're stuck in the era of 1.3/1.4ah batteries. If they'd bring out 3.0's and XC 6.0's that would be cool. I have a Nextec 3/8" drill I still use for de-burring thousands of holes per order (it's just incredibly comfortable in my hand) but I definitely change the batteries more often than a Milwaukee counterpart.
That and the inflator are the only Nextec items I've kept. I used to have a bunch but gave them to my BIL
OP
Parrothead
Well-known member
Correct, I worded it very poorly. Stanley isn't worried about competition with Sears retail because there won't be Sears retail.
Schurkey
Well-known member
I understand that. My Mac air tools were advertised as "Made in USA", but I've come to believe that they were actually made in Japan by SP Air. Snap-On removed the "Made In USA" from the molded grips of the MG-series impacts, although they're still claiming USA on the web site. Taiwan I could accept. South Korea I could accept. Japan I could accept.
Vietnam, China, Laos, North Korea, Cuba, Nepal, Guyana, and Moldova can kiss my *** on the six o'clock news.
Strongly suspicious of the ChiCom origin of that butterfly.
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In 2012, I (along with many others here) brimmed with excitement as we discovered many of the "mega" Craftsman tool sets being offered by sears at extraordinary closeout prices. These super sets contained complete collections of the high-end specialized and professional line of hand tools. Many of the tools in these sets were made by Armstrong and other top suppliers.
My excitement quickly turned to dismay as I realized the reason these tools were being liquidated. The American factories where the tools were made were closing in droves, and Sears intended to offer the "same" tool, using the same catalogue part number, only now it would come from a chinese factory. In order not to run afoul of FTC rules, they had to get rid of all of the old stock, before offering a different item using the same part number.
I now have an extensive collection of USA made tools that would have cost 5 or 10 times as much to acquire if they were stamped with Armstrong, Proto or Snap-On. But it was a bittersweet endeavor, because it also meant the death of the Craftsman brand to me. Aside from the odd made in USA Craftsman Industrial wrench, or the hidden Craftsman USA tool in the back of a Sears shelf, I've not spent a retail dollar on the "Craftsman" brand since.
Stanley did not buy "Craftsman" so they can stamp that on a tool that will attract my business. For guys like me (and those reading this), Stanley already has that covered, with Proto, MAC, USA-made Blackhawk, etc.
To the contrary, what you will see is "288-Piece Mechanic's Tool Set" on Wal-Mart shelves, filled with chinese pot metal, and bought by an unknowing consumer who still thinks "Craftsman" means "Made in USA" or "quality". The brand is widely known, and to this day (nearly 5 years later) people I speak to are still surprised when I tell them "Craftsman" has been chinese for years.
For me personally, the Craftsman warranty became worthless when it meant getting a chinese replacement. My tool buying since 2012 has moved to other brands such as SK and Wright, and even if Stanley did bring back some Craftsman stamped USA tools, I have been trying very hard to avoid patronizing anything under the Stanley or Apex ownership, and support smaller companies like Wright who haven't sold out, haven't compromised, and are trying very hard to stay alive making tools in America when so many other companies are destroying decades of American manufacturing heritage to make a quarterly shareholder boost.
My excitement quickly turned to dismay as I realized the reason these tools were being liquidated. The American factories where the tools were made were closing in droves, and Sears intended to offer the "same" tool, using the same catalogue part number, only now it would come from a chinese factory. In order not to run afoul of FTC rules, they had to get rid of all of the old stock, before offering a different item using the same part number.
I now have an extensive collection of USA made tools that would have cost 5 or 10 times as much to acquire if they were stamped with Armstrong, Proto or Snap-On. But it was a bittersweet endeavor, because it also meant the death of the Craftsman brand to me. Aside from the odd made in USA Craftsman Industrial wrench, or the hidden Craftsman USA tool in the back of a Sears shelf, I've not spent a retail dollar on the "Craftsman" brand since.
Stanley did not buy "Craftsman" so they can stamp that on a tool that will attract my business. For guys like me (and those reading this), Stanley already has that covered, with Proto, MAC, USA-made Blackhawk, etc.
To the contrary, what you will see is "288-Piece Mechanic's Tool Set" on Wal-Mart shelves, filled with chinese pot metal, and bought by an unknowing consumer who still thinks "Craftsman" means "Made in USA" or "quality". The brand is widely known, and to this day (nearly 5 years later) people I speak to are still surprised when I tell them "Craftsman" has been chinese for years.
For me personally, the Craftsman warranty became worthless when it meant getting a chinese replacement. My tool buying since 2012 has moved to other brands such as SK and Wright, and even if Stanley did bring back some Craftsman stamped USA tools, I have been trying very hard to avoid patronizing anything under the Stanley or Apex ownership, and support smaller companies like Wright who haven't sold out, haven't compromised, and are trying very hard to stay alive making tools in America when so many other companies are destroying decades of American manufacturing heritage to make a quarterly shareholder boost.
Loscaldazar
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Are you just going to keep making sensational posts with the hopes of stirring up trouble? They will be producing their own line of craftsman tools, not simply marketing the tools/equipment that sears sells. For many items, that means they will be made by SBD, not Apex anymore. As far as lawn equipment, Stanley probably will try to make many of that in house too, and farm out the larger stuff. If you had read the articles, you would have realized that, but keep ranting away....
4x4_G30_Sportvan
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Oh, the wailing & gnashing of teeth in this thread.
Sears and Sears Holding Corp [SHC] are NOT the same thing, as some have mentioned earlier.
And the CM C3 & Nextec cordless tools are not carp, but very decent homeowner tools at a reasonable price point. The prices for them on ebay will continue to increase to unbelievable levels. The going rate for a Nextec right angle impact bare tools is already ~ $100. I have 2 & use 1 ALL THE TIME. It is light & a fantastic for what it does.
Oh, & Nextec does have the 1.6AH batteries with the built in LED light on the end. But again, for hanging 6 pictures on the wall, I don't need a 3.0AH battery. They are not and were never intended for all day contractor duty usage. & it is not that hard to have 2 batteries & just swap them out between tool and charger for longer projects.
Yep SBD bought CM for the lawn / garden segment that they are lacking in, as well as the name brand .
And finally, the Chicom wrenches, while not great quality, are certainly not 'pot-metal'.
The ridiculous exaggeration is silly; certainly not in any way accurate.
Sears and Sears Holding Corp [SHC] are NOT the same thing, as some have mentioned earlier.
And the CM C3 & Nextec cordless tools are not carp, but very decent homeowner tools at a reasonable price point. The prices for them on ebay will continue to increase to unbelievable levels. The going rate for a Nextec right angle impact bare tools is already ~ $100. I have 2 & use 1 ALL THE TIME. It is light & a fantastic for what it does.
Oh, & Nextec does have the 1.6AH batteries with the built in LED light on the end. But again, for hanging 6 pictures on the wall, I don't need a 3.0AH battery. They are not and were never intended for all day contractor duty usage. & it is not that hard to have 2 batteries & just swap them out between tool and charger for longer projects.
Yep SBD bought CM for the lawn / garden segment that they are lacking in, as well as the name brand .
And finally, the Chicom wrenches, while not great quality, are certainly not 'pot-metal'.
The ridiculous exaggeration is silly; certainly not in any way accurate.
Schurkey
Well-known member
You're making the assumption that SBD will push Crapsman upmarket. That would be entirely contrary to SBD's long history of destroying once-respected brand names by pushing them downmarket faster than their reputation plummeted. In other words, SBD makes money by removing value from consumer goods faster than the General Public can keep up with. And THAT'S the company that's going to save Crapsman?
Time will tell. I've been wrong before. It would be nice to be wrong now, but I don't see it happening without US Gummint regulations on imports. This country is in desperate need of an import tax.
KraftwerkMk1Jetta
Well-known member
When you google "redundancy" this thread comes up first in the search results.
md21722
Well-known member
I believe what we get today with Snap On air tools is assembled in U.S.A. with globally sourced parts. Snap On assembles them at their air tool plant in Murphy, N.C. Its the same with air compressor pumps - Quincy & Champion assemble them in the U.S. with globally sourced parts.
bobcatdan
Well-known member
Since Stanley isn't in lawn and garden, they should just dump that as its over saturated already with cheap junk. As for the hand tools, it sounds like they will be USA, but will have to wait to see as its too early. Since you can buy Stanley just about anywhere, the options are unlimited as to wear to sell craftsman. I do think is new USA craftsman comes out, it will be more expensive then we are use to for craftsman. Craftsman prices really have not gone up in 20 years and that is why we saw quailty slip. If we are taking a decent mid level USA tool line, I'd expect their prices to be in line with SK or wright.
WWheeler
Well-known member
Pretty much every article from financial analysts are calling this a win for Stanley because it adds the lawn and garden market to their portfolio. It's a whole new slice of the pie for them. As pointed out already in this thread, Sears lawn and garden made up 40% of all Craftsman sales, more than power tools or hand tools. Now Stanley will be able to capitalize on that name and push Craftsman mowers and weedeaters into other retailers.
Hardly any of the articles even mention the Craftsman hand tools line because Stanley already has that covered. Plus, if Stanley was going to start producing USA made hand tools it will only cause confusion with the forever guarantee at Sears stores that wouldn't be stocking those products. I suspect Stanley is going to focus on expanding as they have been on their US plants making Dewalt power tools and adding relabeled Dewalt products to the Craftsman Pro line, and perhaps some similar with the lawn and garden also (ie Dewalts new cordless chainsaws, trimmers, etc), as those products don't have that lifetime guarantee.
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nickjj
Well-known member
But won't they just licence that to the same people who make it for sears?
EOC_Jason
Well-known member
Stanley has a lot broader marketing channels. They are in every Lowes, HD, and Walmart...
Truth is nobody really knows what is going to happen until it happens. All the Sears stores and Sears franchises will continue to purchase their goods from SKD / Sears Holdings... Their operations are totally independent of whatever Stanley will end up doing.
elmwood
Member
My uneducated opinion, for what it's worth :..
* People keep mentioning HD, Lowe's, and where SBD Craftsman would fit in among Husky and Kobalt. I see a lot of potential for the brand at smaller local home improvement and semi-pro chains -- Valu, HEP, Aubuchon, and the like. There's the rural/country living chains like Tractor Supply and Farm & Fleet. Also, there's still a lot of independent auto/truck parts stores out there.
* Remember, Stanley is an international brand. I'm willing to bet that Craftsman has a fair bit of name recognition outside of North America. American tool/DIY message boards and blogs have an international audience. Many overseas markets don't have an affordable middle-end-made-in-a-western-first-world-country option for tools -- it's either COO China or Taiwan at the low-to-middle end, or very pricey German and Japanese brands, along with some American truck brands. A reasonably priced brand of tools, made in the USA, with some "forbidden fruit" cachet, could fly off the shelves in Australia, New Zealand, South Africa, and the U.K. Think about Craftsman on the shelves at Bunnings, Wickes, and Homebase, among others.
* People keep mentioning HD, Lowe's, and where SBD Craftsman would fit in among Husky and Kobalt. I see a lot of potential for the brand at smaller local home improvement and semi-pro chains -- Valu, HEP, Aubuchon, and the like. There's the rural/country living chains like Tractor Supply and Farm & Fleet. Also, there's still a lot of independent auto/truck parts stores out there.
* Remember, Stanley is an international brand. I'm willing to bet that Craftsman has a fair bit of name recognition outside of North America. American tool/DIY message boards and blogs have an international audience. Many overseas markets don't have an affordable middle-end-made-in-a-western-first-world-country option for tools -- it's either COO China or Taiwan at the low-to-middle end, or very pricey German and Japanese brands, along with some American truck brands. A reasonably priced brand of tools, made in the USA, with some "forbidden fruit" cachet, could fly off the shelves in Australia, New Zealand, South Africa, and the U.K. Think about Craftsman on the shelves at Bunnings, Wickes, and Homebase, among others.
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bcexplorer
Well-known member
You may be on to something. In the same way chrysler is Really trying to push jeep globally based on its U.S.A image, perhaps stanley may follow suit with craftsman. There has to be substance along with the image though.
metaldad
Well-known member
maybe, just maybe, that new plant to be built here, may make dewalt handtools.
industrial supply house here has an overflowing complete aisle (both sides) filled with chicom dewalt sockets (chrome and impact), wrenches, ratchets, and whatever.
industrial supply house here has an overflowing complete aisle (both sides) filled with chicom dewalt sockets (chrome and impact), wrenches, ratchets, and whatever.
getbent4x4
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- Messages
- 3,722
I'm just hoping for current USA tools for cheaper than they ever been. Let's keep our eyes posted and jump on them if they do!
wssix99
Well-known member
Funny how the initial payment from SBD is $500M-ish and Eddie just loaned the company $500M the other day to tide them over for a bit...
http://www.chicagotribune.com/business/ct-sears-loan-lampert-0105-biz-20170104-story.html
sberry
Banned
You got to wonder don't you,,, sends the stock price up the other day too.
wssix99
Well-known member
Anyone who owns Sears stock is either:
- An insider
- A victim in waiting
I own a ton of Craftsman hand tools and have banked on the warranty for years. I am worried that fact now makes me:
- A fool
- An insider
- A victim in waiting
I own a ton of Craftsman hand tools and have banked on the warranty for years. I am worried that fact now makes me:
- A fool
Moparman390
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I’ll say what I have to say on this and leave it at that. Things are playing out with this deal more or less in a way I anticipated and nothing really surprises me or is really that complicated.
I knew Craftsman was not dead, never was, and doesn’t look like it ever will be, for the foreseeable future at least. Sears was able to get 900 million dollars for a brand name, yeah a brand name, and they more or less get to keep their ownership of their side of it as long as they are still around, paying only a small royalty but not until 15 years out. Think about that Stanley Black and Decker paid almost one billion dollars for a name, a logo, a badge, a sticker. When you when you factor in the value of what Sears still owns, the Craftsman name is worth over one billion dollars. Outside this bubble, in the vast majority of the market they cover, Craftsman is an extremely valuable brand name. Always has been, will still be. Stanley Black and Decker paid almost one billion dollars for a name because it is still the number one name in tools and tool related items. Yes, that’s right, commanding a 30% market share of hand tools in stores that are being closed and deserted at an extreme rate is still extremely strong. Having large shares of about a half dozen other markets is also impressive. Craftsman is almost in the same class as brands like Coca-Cola, McDonalds, Apple and so on having near universal name recognition to all consumers in the US market. And get this, a reputation for quality. Add in the legacy of everybody’s daddy and daddy’s daddy having Craftsman and their industry defining warranty, Craftsman is extremely valuable, probably the most valuable name in tools. Sure the Irwin/Newell deal was for twice as much, but remember that included an entire manufacturing operation, Craftsman is mostly just a name. It may not be the most popular name on here but in the consumer market of tools, the largest one, made up of homeowners, weekend warriors, and DIYers, Craftsman is the gold standard to most. It’s a consumer brand, making tools that are perfectly adequate for its customers, with the strongest name and reputation to its target market, and that’s that.
Now this deal is interesting because it sets up basically two companies, Sears Craftsman and Stanley Craftsman. Sears can still do pretty much whatever they want with the brand and so can Stanley Black and Decker. Both can source and develop product independently. Now I expect Stanley Black and Decker to insource as much production as they can and you might see Sears buy some of the tools from them when their contracts with other suppliers are up, time will tell. Now Stanley Black and Decker Craftsman is basically a brand new tool line that Stanley Black and Decker is launching that they are tagging with the most legendary name in tools. Very shrewd. They are going to return it to a Made In USA focus they say, they really plan to leverage it. They also have many plants in the US already to make some of the tools and are adding another. Just what they make in the USA, if not everything, time will tell. But Stanley Black and Decker has a plan for this, I’m sure their sales people hit the ground running to their customers yesterday morning. Looks like they plan to sell Stanley Craftsman everywhere, and I mean everywhere, even leveraging their industrial and tool truck distribution networks. Craftsman slots in perfectly between their low end Stanley or Black and Decker tools, and their pro tools like Proto or Dewalt (probably pushing Dewalt hand tools more or less aside). Stanley Black and Decker also is using this to get into the lawn and garden market as well as power equipment. I imagine a lot of that will still be continue to be contract manufactured. You might see some Stanley Craftsman stuff still being made in China if it’s for lower end or mass market retail, or you might not, time will tell. It’s going to be a while before we know what it’s all going to look like.
The one question that still remains is the warranty, you know they will keep it, that’s always been a foregone conclusion with Craftsman. You would destroy a ton of the brand equity without it and it’s really a very major asset not a liability*. The question is how do they handle it between Stanley Black and Decker and Sears, as long as Sears still exists? Time will tell.
All and all a very interesting time for Craftsman.
Here is the Stanley Black and Decker investor presentation, they tell you what they intend to do, take a gander.
http://swkcraftsman.transactionanno...chase-Craftsman-Brand-from-Sears-Holdings.pdf
*On the average 250 piece tool set how many tools actually get returned over it’s life? 4 or 5? Most consumers never bother or need to return a single one. Those tools cost you like 66 cents to a couple bucks, depending on the item, a piece meaning they cost way less to Craftsman. The value of the warranty to the customer at time of the sale is huge, especially because it was a huge building block of the Craftsman reputation. Also marketing looks at warranty returns as sales opportunities because it brings the customer in store.
I knew Craftsman was not dead, never was, and doesn’t look like it ever will be, for the foreseeable future at least. Sears was able to get 900 million dollars for a brand name, yeah a brand name, and they more or less get to keep their ownership of their side of it as long as they are still around, paying only a small royalty but not until 15 years out. Think about that Stanley Black and Decker paid almost one billion dollars for a name, a logo, a badge, a sticker. When you when you factor in the value of what Sears still owns, the Craftsman name is worth over one billion dollars. Outside this bubble, in the vast majority of the market they cover, Craftsman is an extremely valuable brand name. Always has been, will still be. Stanley Black and Decker paid almost one billion dollars for a name because it is still the number one name in tools and tool related items. Yes, that’s right, commanding a 30% market share of hand tools in stores that are being closed and deserted at an extreme rate is still extremely strong. Having large shares of about a half dozen other markets is also impressive. Craftsman is almost in the same class as brands like Coca-Cola, McDonalds, Apple and so on having near universal name recognition to all consumers in the US market. And get this, a reputation for quality. Add in the legacy of everybody’s daddy and daddy’s daddy having Craftsman and their industry defining warranty, Craftsman is extremely valuable, probably the most valuable name in tools. Sure the Irwin/Newell deal was for twice as much, but remember that included an entire manufacturing operation, Craftsman is mostly just a name. It may not be the most popular name on here but in the consumer market of tools, the largest one, made up of homeowners, weekend warriors, and DIYers, Craftsman is the gold standard to most. It’s a consumer brand, making tools that are perfectly adequate for its customers, with the strongest name and reputation to its target market, and that’s that.
Now this deal is interesting because it sets up basically two companies, Sears Craftsman and Stanley Craftsman. Sears can still do pretty much whatever they want with the brand and so can Stanley Black and Decker. Both can source and develop product independently. Now I expect Stanley Black and Decker to insource as much production as they can and you might see Sears buy some of the tools from them when their contracts with other suppliers are up, time will tell. Now Stanley Black and Decker Craftsman is basically a brand new tool line that Stanley Black and Decker is launching that they are tagging with the most legendary name in tools. Very shrewd. They are going to return it to a Made In USA focus they say, they really plan to leverage it. They also have many plants in the US already to make some of the tools and are adding another. Just what they make in the USA, if not everything, time will tell. But Stanley Black and Decker has a plan for this, I’m sure their sales people hit the ground running to their customers yesterday morning. Looks like they plan to sell Stanley Craftsman everywhere, and I mean everywhere, even leveraging their industrial and tool truck distribution networks. Craftsman slots in perfectly between their low end Stanley or Black and Decker tools, and their pro tools like Proto or Dewalt (probably pushing Dewalt hand tools more or less aside). Stanley Black and Decker also is using this to get into the lawn and garden market as well as power equipment. I imagine a lot of that will still be continue to be contract manufactured. You might see some Stanley Craftsman stuff still being made in China if it’s for lower end or mass market retail, or you might not, time will tell. It’s going to be a while before we know what it’s all going to look like.
The one question that still remains is the warranty, you know they will keep it, that’s always been a foregone conclusion with Craftsman. You would destroy a ton of the brand equity without it and it’s really a very major asset not a liability*. The question is how do they handle it between Stanley Black and Decker and Sears, as long as Sears still exists? Time will tell.
All and all a very interesting time for Craftsman.
Here is the Stanley Black and Decker investor presentation, they tell you what they intend to do, take a gander.
http://swkcraftsman.transactionanno...chase-Craftsman-Brand-from-Sears-Holdings.pdf
*On the average 250 piece tool set how many tools actually get returned over it’s life? 4 or 5? Most consumers never bother or need to return a single one. Those tools cost you like 66 cents to a couple bucks, depending on the item, a piece meaning they cost way less to Craftsman. The value of the warranty to the customer at time of the sale is huge, especially because it was a huge building block of the Craftsman reputation. Also marketing looks at warranty returns as sales opportunities because it brings the customer in store.
Shadowdog500
Well-known member
How many Crafstman tools have you had to warranty over the years?
I've had a couple craftsman ratchets rebuilt and a deep socket that broke over the last few decades and that is about it.
I doubt that the warranty will go away,
but even if it did, I wouldn't be that worried.
Didn't Stanley make Craftsman tools 20 years ago when they were still decent?
Chris
Climatecreator
Well-known member
I just warrantied a t27 torx driver I've had for 25 years and got another made in USA replacement, also a double box ratcheting 1/4 5/16 also USA. Over the years not too many to swap out but always glad I could.
I think the biggest problem craftsman had is that most people now a days buy their tools the same place as their diy materials. Whether automotive or construction. Since Sears doesn't sell stuff like that they're losing sales to home depot etc. No one is going to go online for every project they're doing to ask what screwdriver they should be buying, when it's right there right then made in USA lifetime warranty.....sold.
Craftsman could outsell everything else with the right distributing and consolidating overlapping brands into one good well known one... Even millennials know the name and they're the future atm.
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I think the biggest problem craftsman had is that most people now a days buy their tools the same place as their diy materials. Whether automotive or construction. Since Sears doesn't sell stuff like that they're losing sales to home depot etc. No one is going to go online for every project they're doing to ask what screwdriver they should be buying, when it's right there right then made in USA lifetime warranty.....sold.
Craftsman could outsell everything else with the right distributing and consolidating overlapping brands into one good well known one... Even millennials know the name and they're the future atm.
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Moparman390
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Right on.
wssix99
Well-known member
Probably 10+ and over $400+ worth or exchanges. (Some of those were after Sears started going down the tubes and started changing the line up. Instead of getting a replacement tool, I've had to exchange entire sets in some cases.)
I'm also uncommon in that I've been buying their tools for over 35 years and probably have another 20 tool-buying years to go until the poison my wife doses me finally brings on a lasting death.
Walking in to Sears to make a purchase or exchange was always really painless and easy. We also had a tool salesman who generally knew the stuff and could run a register to do the transaction. I don't think I can stomach this process at an Ace or Home Depot...
^ Not that Sears is going extinct, I've taken to buying cheap/disposable and used tools. (I'm finding that cheap old used tools are often higher quality than new stuff, anyway.)
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WWheeler
Well-known member
I'm with you there. I have a fairly extensive a collection of 1980-2000 Craftsman hand tools, and more than a few older than that handed down to me, and all have been put to good use both at work and at home, and I can count on my fingers how many Craftsman tools I've needed to return.
I've never had to be hard on my tools. There's benefits to being paid by the hour when using your own tools or DIY at home that pros working flat rate don't have. I've never had to try to do a 3/8" dr job with a 1/4" ratchet/socket, a 1/2" dr job with a 3/8" dr ratchet/socket, or a 3/4" dr job with a 1/2" dr ratchet/socket, etc. I have never needed to put a cheater on a ratchet or double up my wrenches. I don't ever need to cut corners to save time or 'make do'. I have always been afforded the luxury to stop a job if I didn't have the right tool for it and it waited until I did.
Anywho, if I'm looking at this right, it looks like the only Stanley manufactured Craftsman so far was Taiwan-made for Sears Canada.
Craftsman Hand Tool Manufacturers & Date Ranges
http://www.garagejournal.com/forum/showthread.php?t=84807
I still think it's most likely that Stanley will not be getting into making/selling any hand tools any time soon, and if so the lifetime warranty just won't come into play. I believe it's much more likely they are going to go after that new lawn and garden piece of the pie they didn't have before and rebranding their current power tool lineups as Craftsman.
nickjj
Well-known member
Homebase has given up, Kinchrome seems to rule Australia, in the UK very few people have heard of Craftsman, and TBH American made goods don't really command a premium, Snap on only sell anything because people can pay weekly and they replace anything that breaks.
HCNDM
Well-known member
I tentatively agree with this. People in holland tend to care less where something is made. Most simply look at price vs quality.
A lot of the big Euro brands have large parts of their catalogue coming from Taiwan (Facom, Beta, but even the German brands to some degree).
If craftsman could produce the same or better quality at the same or a lower price they'll sell on that but COO at least in mainland Europe won't be the deciding factor for most buyers.
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four.cycle
Well-known member
One again, Parrothead nails it:
(emphasis added)
The average consumer still perceives the brand as being premium quality and a good value for the money. All of the complaining about "made in China" here doesn't even factor into that equation.
^ For the same reason Duro Metal Products Company marketed both "Duro Chrome" and "Indestro", the same reason Thorsen Tool Company marketed both "Thorsen" and "Action", and for the same reason O'Reilly's Auto Parts has no fewer than three brands of alternators on the shelf: targeted marketing. The item may be identical, having come off the same production line on the same day: one packaged as "A" and the other packaged as "B".
It also allows them to sell brand "A" to one retailer, and brand "B" to a different retailer right across the street, as was the case with Duro Chrome and Indestro. Doing so allows both retailers to compete and offer an "exclusive" deal.
Marketing games. Fun stuff.
Parrothead said:
(emphasis added)
The average consumer still perceives the brand as being premium quality and a good value for the money. All of the complaining about "made in China" here doesn't even factor into that equation.
EOC_Jason said:
EOC_Jason said:
^ For the same reason Duro Metal Products Company marketed both "Duro Chrome" and "Indestro", the same reason Thorsen Tool Company marketed both "Thorsen" and "Action", and for the same reason O'Reilly's Auto Parts has no fewer than three brands of alternators on the shelf: targeted marketing. The item may be identical, having come off the same production line on the same day: one packaged as "A" and the other packaged as "B".
It also allows them to sell brand "A" to one retailer, and brand "B" to a different retailer right across the street, as was the case with Duro Chrome and Indestro. Doing so allows both retailers to compete and offer an "exclusive" deal.
Marketing games. Fun stuff.
Superbec
Well-known member
Still can't believe the 900m number... for a brand name .... hmmmm that's absurd
That's what is wrong with the global economy , there are "people" who would pay that amount of money for practically NOTHING only because they are sure to make profit out of it .
Just take 2 minutes to think about this ... 900 millions !!!
How many tools a company needs to "make " and sell to cover that in profit?
I bet all craftsman hand tools that ever were made don't add up to 900m , that's an incredible amount of tools ...
The profit will be made in some market schemes not in actual tool sales .
That's what is wrong with the global economy , there are "people" who would pay that amount of money for practically NOTHING only because they are sure to make profit out of it .
Just take 2 minutes to think about this ... 900 millions !!!
How many tools a company needs to "make " and sell to cover that in profit?
I bet all craftsman hand tools that ever were made don't add up to 900m , that's an incredible amount of tools ...
The profit will be made in some market schemes not in actual tool sales .
Q: so if both Sears and B&D can market 'Craftsman', doesn't that mean there will be multiple different sources of sockets and wrenches, with no one holding the standards towards quality? I could see this as turning to a faster 'race to the bottom' both capitalizing (greed) on a brand name.
HCNDM
Well-known member
Stanley Black & Decker buys Craftsman
That's how the economy works dude... it's all air. Look at the big startups like uber. Worth billions but not making cash
I haven't checked yet what Stanley stock did. But a couple of percent climb because of this buy could easily be worth more than 900m. In which case there's money made without producing any tools.
Edit: yep the buy pushed stock up
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That's how the economy works dude... it's all air. Look at the big startups like uber. Worth billions but not making cash
I haven't checked yet what Stanley stock did. But a couple of percent climb because of this buy could easily be worth more than 900m. In which case there's money made without producing any tools.
Edit: yep the buy pushed stock up
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The investor overview says Craftsman's retail sales for last year were about $1.9 billion. That's revenue not profit but that's also sales through a limited and struggling distribution channel. Branding matters. If it didn't there would be far fewer tv commercials. Just making good products and selling at fair prices don't guarantee a company's success. Branding matters and Stanley just bought a great one with untapped growth potential.
four.cycle
Well-known member
Superbec said:
"A million here, a million there, pretty soon, you're talking real money."
- U.S. Senator Everett Dirksen (1896–1969)
Superbec
Well-known member
That's how the economy works dude... it's all air. Look at the big startups like uber. Worth billions but not making cash
I know ... wish I could get my hands on.... let's not talk about that
ok so I was completely wrong .. looks like 1 billion is worth a bunch of **** tools nowadays
GROWTH , I'm sorry I have an allergy of this word , profit is nothing without growth ...
Looks like only I can remember 2008