Craftsman V-series clearance

[Skellyii]

I need to get a job for Lowes Marketing department with this new slogan:

"Lowes...where brands go to slowly die"

*cough* Craftsman *cough* Toughbuilt *cough* Flex *cough*

Slowly??

 

[Dankotaru]

I always wondered what happens when a retailer stops producing a line of guaranteed tools. If your v series ratchet goes pop, what do you do? Exchange it for whatever they happen to have on the shelf?

Pretty much. For example, if you lose a V-Series wrench from a set, there's no single replacement for it from Craftsman- your best bet is to buy the Facom equivalent. If you break one and warranty it, Craftsman will send you a made in China or India regular Craftsman wrench of that size. Same with the Overdrive stuff right now. I reached out to both SBD and Craftsman to see if I could get a single Overdrive socket that my set skipped, and no dice, they don't stock individual pieces. When I asked what happens if I break an Overdrive socket in my set, they said they'll warranty it for a regular socket, not another Overdrive socket. If I take it into Lowes or Ace they will warranty it for the same size regular chrome socket, unless they are willing to pull a replacement out of an Overdrive set for me but they don't have to.

edit: from the press release that ToolGuyd quoted on his site:

Craftsman says that they will “honor the V-series warranty with the next equal value Craftsman product.”

This news is a shame, but not unexpected. The ToolGuyd site linked above did a good job explaining that we are not Craftsman's customers. Lowes is the customer. And Lowes didn't want to purchase or market a higher-end product, for whatever reasons. Instead, they want to order more regular Craftsman sets and Overdrive products, so that's what SBD will produce.

 

[Professor Gascan]

Pretty much. For example, if you lose a V-Series wrench from a set, there's no single replacement for it from Craftsman- you're best bet is to buy the Facom equivalent. If you break one and warranty it, Craftsman will send you a made in China or India regular Craftsman wrench of that size. Same with the Overdrive stuff right now. I reached out to both SBD and Craftsman to see if I could get a single Overdrive socket that my set skipped, and no dice, they don't stock individual pieces. When I asked what happens if I break an Overdrive socket in my set, they said they'll warranty it for a regular socket, not another Overdrive socket. If I take it into Lowes or Ace they will warranty it for the same size regular chrome socket, unless they are willing to pull a replacement out of an Overdrive set for me but they don't have to.

This news is a shame, but not unexpected. The Toolguyd site linked above did a good job explaining that we are not Craftsman's customers. Lowes is the customer. And Lowes didn't want to purchase or market a higher-end product, for whatever reasons. Instead, they want to order more Overdrive products, so that's what SBD will produce.

Bummer. On the bright side, if you picked them up on sale you at least got a good deal on quality tools that should last if you don't abuse them.

 

[Andres26tnt]

Pretty much. For example, if you lose a V-Series wrench from a set, there's no single replacement for it from Craftsman- your best bet is to buy the Facom equivalent. If you break one and warranty it, Craftsman will send you a made in China or India regular Craftsman wrench of that size. Same with the Overdrive stuff right now. I reached out to both SBD and Craftsman to see if I could get a single Overdrive socket that my set skipped, and no dice, they don't stock individual pieces. When I asked what happens if I break an Overdrive socket in my set, they said they'll warranty it for a regular socket, not another Overdrive socket. If I take it into Lowes or Ace they will warranty it for the same size regular chrome socket, unless they are willing to pull a replacement out of an Overdrive set for me but they don't have to.

This news is a shame, but not unexpected. The ToolGuyd site linked above did a good job explaining that we are not Craftsman's customers. Lowes is the customer. And Lowes didn't want to purchase or market a higher-end product, for whatever reasons. Instead, they want to order more regular Craftsman sets and Overdrive products, so that's what SBD will produce.

This right here, is how retail operates. they have data on what consumers buy vs what they "want". Guess what they will choose? 9 times out 10 a consumer will buy the cheap stuff. With limited space available, why would they buy into an expensive line that most Craftsman consumers won't buy? That's not us, we are a small portion of the tool buyer market.

Stanley B&D could release this line online only and copy Tekton, but i don't doubt they have some sort of obligation with their retail partners.

 

[four.cycle]

You know.... it's possible their taking a stab at marketing the product line as the "V-series" was an attempt to elicit some brand recognition and loyalty among that potential customer base that still clung to vague memories of the old -V- and =V= Craftsman stuff, and for whatever reason, it simply didn't pan out the way they'd hoped, in which case the smart business decision would be to cut their losses and drop the line.
When you realize you've got a loser, you don't keep investing in it - you pull the plug. Like the Edsel.

If the only sales were at significantly reduced prices the prudent thing would be to bail out. Who on this website paid full retain price for any of it?

SBD seems to have come up with a winner with the Facom line - maybe they'll direct their energies and resources that direction.

 

[Steel_Rain]

Who on this website paid full retain price for any of it?

I knew they existed well before the fire sale/clearance pricing and had bought a set of the screwdrivers at (or close) to retail because I had researched them and found they were Facom rebrands. I wanted to give Facom a try and this a cheaper way to do it. I was impressed, but not enough to pay full boat for the other V-Series stuff at the time.

 

[Ohio Andy]

I knew they existed well before the fire sale/clearance pricing and had bought a set of the screwdrivers at (or close) to retail because I had researched them and found they were Facom rebrands. I wanted to give Facom a try and this a cheaper way to do it. I was impressed, but not enough to pay full boat for the other V-Series stuff at the time.

I paid full price for my screwdrivers. Also for a couple overdrive sets of wrenches maybe and for sure a couple socket sets.

Also got a bunch of similar at the low price.

 

[four.cycle]

So... forgive my ignorance, but are they still marketing the "Overdrive" line?

Overall, the larger picture looks like they're having a difficult time trying to figure out how to recoup that $900 million dollar investment they made in the brand.
It may well turn out in the end that they simply abandon it and put their focus on the Facom line, which seems to be making inroads into the domestic market.

Just wild speculation, of course. None of us owns a crystal ball.

 

[Ohio Andy]

So... forgive my ignorance, but are they still marketing the "Overdrive" line?

Overall, the larger picture looks like they're having a difficult time trying to figure out how to recoup that $900 million dollar investment they made in the brand.
It may well turn out in the end that they simply abandon it and put their focus on the Facom line, which seems to be making inroads into the domestic market.

Just wild speculation, of course. None of us owns a crystal ball.

At my local Ace they have overdrive stuff, but little to no v series. So I had assumed that they discontinued the v series but were continuing the overdrive series.

 

[Steel_Rain]

are they still marketing the "Overdrive" line?

Still on the website: https://www.craftsman.com/collections/overdrive

(but so are V-Series )

Some of the Overdrive stuff is on clearance at my local Lowes stores as of a few week ago, here is an example:



Seems alot like the V-Series pricing before they went away.

 

[finn]

I knew they existed well before the fire sale/clearance pricing and had bought a set of the screwdrivers at (or close) to retail because I had researched them and found they were Facom rebrands. I wanted to give Facom a try and this a cheaper way to do it. I was impressed, but not enough to pay full boat for the other V-Series stuff at the time.

Just goes to support the statement that consumers only buy cheap.

Prime example here: you wanted to try the product but didn’t want to pay full retail price.

I’m pretty much the same, as are most consumers, but nobody wants to admit they’re like that.

 

[finn]

So... forgive my ignorance, but are they still marketing the "Overdrive" line?

Overall, the larger picture looks like they're having a difficult time trying to figure out how to recoup that $900 million dollar investment they made in the brand.
It may well turn out in the end that they simply abandon it and put their focus on the Facom line, which seems to be making inroads into the domestic market.

Just wild speculation, of course. None of us owns a crystal ball.

I’ve never, ever seen a Facom tool on a retail shelf.

What makes you think the brand is making inroads?

 

[Steel_Rain]

but nobody wants to admit they’re like that.

I will definitely admit to being a cheap son of a *****.

 

[Dankotaru]

So... forgive my ignorance, but are they still marketing the "Overdrive" line?

From the press release quoted by ToolGuyd:

Craftsman will be “phasing out V-Series mechanics tools as part of a strategic shift to focus on the brand’s core product line as well as its Overdrive offering.”

Seems like Overdrive is sticking around. He goes on to say those are the product lines Lowes wants more of, so that's what SBD will make under the Craftsman brand. So maybe there will be more Overdrive sets or even (hopefully) individual Overdrive wrenches and sockets in the future.

 

[Ohio Andy]

From the press release quoted by ToolGuyd:

Seems like Overdrive is sticking around. He goes on to say those are the product lines Lowes wants more of, so that's what SBD will make under the Craftsman brand. So maybe there will be more Overdrive sets or even (hopefully) individual Overdrive wrenches and sockets in the future.

Good, the overdrive has some rbrt functionality built in which I like, I don't remember if the v series does. I don't think it does. I own some, I could check....

Are those overdrive wrenches are pretty tight onto the fastener. I've not noticed that with the sockets. If I remember, without looking, they are also slightly longer than my wright tools combination wrenches, which go on really easily, And then grip like there's no tomorrow, saying not today bold. It will leave a mark, but it will also get it off.

 

[four.cycle]

I’ve never, ever seen a Falcon tool on a retail shelf.

What makes you think the brand is making inroads?

"Facom"

search:

> https://www.garagejournal.com/forum/threads/tools-from-the-old-world.28952/

> https://www.garagejournal.com/forum/threads/show-your-new-tool-arrivals.103272/

I'd guess there is probably zero retail distribution, but the retail market has become a race to the bottom - all the players trying to offer products at the lowest price point possible.
As long as the American consumer demands cheaper cheaper cheaper, that's all you're going to see in the mass-merchandiser retail outlets.

As a retail buyer, if an item sits on a shelf longer than 90 days, it's determined to be a loser and you drop it. Turnover is all in retail.
Inventory is not an asset - it's a liability. If the "V" stuff didn't make the cut, it didn't make the cut.

 

[four.cycle]

RE: "Craftsman will be “phasing out V-Series mechanics tools as part of a strategic shift to focus on the brand’s core product line as well as its Overdrive offering.”

Interesting.
Maybe "V series" just didn't ring any bells or set anybody's hair on fire.

I called my local "ACE", but was unable to get an answer as they're just swamped right now. I'll have to drive up and take a look.

I don't think any of us can second-guess what SBD's long-term plan is, if they in fact have one.

 

[neophyte]

RE: "Craftsman will be “phasing out V-Series mechanics tools as part of a strategic shift to focus on the brand’s core product line as well as its Overdrive offering.”

Interesting.
Maybe "V series" just didn't ring any bells or set anybody's hair on fire.

I called my local "ACE", but was unable to get an answer as they're just swamped right now. I'll have to drive up and take a look.

I don't think any of us can second-guess what SBD's long-term plan is, if they in fact have one.

I knew the V series existed, but never actually saw any of the items in stores.
Yes, I could order the items online, but then I have to wait for shipping to store, or shipping to my house, and dealing with potential porch pirates.
The Klein reversible plier wrenches, cost about the same as some of the V-series, but were actually available at Lowes, and I bought a pair.
Sadly, the same issue is in place with the other Klein reversible plier wrench sizes, that I can’t buy the items in store, I have to order them.

With certain brands, I have confidence I will likely not be disappointed.
With other brands, especially ones that might have a lot of imported or rebranded items, I don’t think it’s always reliable to order on faith without seeing the item in person, unless the price is right.
Buy the time I realized I might like the V-series, it is being discontinued.

 

[Fedwrench]

No one knows what SBD will do but, I think it's a pretty safe bet that launching Facom in the United States isn't on their radar.
Facom has a limited presence here as several rebadged MAC items, a few things on Amazon, and Ultimate Garage offers much of their line. I wanted the new Craftsman V series to be so much more. SBD could have rebadged more of the Facom/USAG line up but failed to do so. Perhaps the current US tool customer is happier with Icon and other Harbor Freight options

 

[oscarsnapkin]

No one knows what SBD will do but, I think it's a pretty safe bet that launching Facom in the United States isn't on their radar.
Facom has a limited presence here as several rebadged MAC items, a few things on Amazon, and Ultimate Garage offers much of their line. I wanted the new Craftsman V series to be so much more. SBD could have rebadged more of the Facom/USAG line up but failed to do so. Perhaps the current US tool customer is happier with Icon and other Harbor Freight options

You’re on to something with Harbor Freight. They’ve in a way taken a spot that Sears left vacant. Not to mention there’s tons of “influencers” reviewing their products on YouTube and elsewhere. None of them are comparing Icon to more economical brands, it’s always Icon vs tool truck brands, which paints Icon as a better value for the quality vs cost.

 

[four.cycle]

^ I think there's a good deal of truth in that statement, sir, and I think perhaps SBD is behind the curve on that one - trying to play "catch up" or gain market share with a product that turned out to not have a competitive price point.

 

[finn]

"Facom"

search:

> https://www.garagejournal.com/forum/threads/tools-from-the-old-world.28952/

> https://www.garagejournal.com/forum/threads/show-your-new-tool-arrivals.103272/

I'd guess there is probably zero retail distribution, but the retail market has become a race to the bottom - all the players trying to offer products at the lowest price point possible.
As long as the American consumer demands cheaper cheaper cheaper, that's all you're going to see in the mass-merchandiser retail outlets.

As a retail buyer, if an item sits on a shelf longer than 90 days, it's determined to be a loser and you drop it. Turnover is all in retail.
Inventory is not an asset - it's a liability. If the "V" stuff didn't make the cut, it didn't make the cut.

Yea, Facom.

Apple doesn’t like that spelling, and I’m a lousy proof reader.

I don’t disagree on the issues with retail, but the fact remains that’s where the sales volume is. Industrial outlets aren’t a practical source of tools for the majority of people.

 

[four.cycle]

^ Correct.
Remains to be seen whether SBD will attempt to get the "Facom" line into any of the mass-merchandisers, but I would think that doubtful, when Home Depot is peddling Milwaukee and Lowes is blowing out Kobalt cheap.
I'll take a look at the local ACE, which is an independently owned franchise store, to see what they're offering in the "Craftsman" they are carrying now.

Between Covid and the fiasco with the proposed Fort Worth manufacturing facility, it's looking like SBD ended up behind the 8-ball - meanwhile Harbor Freight introduced more fancy "ICON" items each week, taking another bite of market share.

 

[Junkdrawer Dog]

TBH, the last couple of times I went to Lowes to pick up an open stock socket or wrench from C'man, I left with Kobalt. Functionally the same, similar quality and lower price.

 

[NUTTSGT]

You’re on to something with Harbor Freight. They’ve in a way taken a spot that Sears left vacant. Not to mention there’s tons of “influencers” reviewing their products on YouTube and elsewhere. None of them are comparing Icon to more economical brands, it’s always Icon vs tool truck brands, which paints Icon as a better value for the quality vs cost.

I mentioned this in another thread a few months ago. For the average everyday person, they want a tool store where they can go grab a tool, a set or whatever they need for their current project. Whether you like it or not, HF fills that void left by Eddie.

 

[Etchase]

Craftsman is bigger than all but a handful of brands, with wholesale sales of between $1.1 and $1.5 billion last year. I’m not sure why the 10k gives the royalty as a range, the original filing describing the transaction put the royalty at 3% which would equate to $1.3 billion in net sales. The purchase price of $500 million plus 3% of sales for 15 years, seems to be a bargain compared to the sales multiple given to transactions at the time. Apex has sales of less than a billion, and is a major supplier of Husky, Kobalt, HF, as well as many others for comparison. Excerpted from latest 10k if I remember correctly where I took the screen grab.

 

[JohnnyU]

Except other than pliers, Icon is nowhere near tool truck quality. The V series wrenches, sockets ratchets and screwdrivers are superior to the Icon line

SBD dropped the ball with marketing the V series, the typical lowes shoppers is just going to see a higher priced CM product without any explanation as to why it’s better

 

[four.cycle]

^ Therein lies the crux of it: the "typical Lowes shoppers" aren't looking for quality in most cases - they want to get a job done at the lowest possible cost. Otherwise their "Kobalt" line would be a total flop.

 

[KnurledNut]

No one knows what SBD will do but, I think it's a pretty safe bet that launching Facom in the United States isn't on their radar.
Facom has a limited presence here as several rebadged MAC items, a few things on Amazon, and Ultimate Garage offers much of their line. I wanted the new Craftsman V series to be so much more. SBD could have rebadged more of the Facom/USAG line up but failed to do so. Perhaps the current US tool customer is happier with Icon and other Harbor Freight options

If I was running Lowes, I think I would have focused on making the most of the Kobalt name. Its too late now since the brand image is cheap. Initially they could have started with a Kobalt Pro line with the top quality mechanic tools they premiered and then maintained a secondary mid-tier line as just Kobalt.
Lowes seems to dip their toes in the water, but forgets to take their shoes off.

 

[Andres26tnt]

Not sure why people push the craftsman in trouble narrative when they have cleared evidence on the contrary. Stanley most definitely recoup they 900m investment, that's not to say they didn't have missteps.

Stanley has zero plans on bringing the facom brand to the USA as it the top in Europe. The prices also don't let them as they are tool truck quality and pricy. As we know, no one but a few of us payed full pricing for those rebranded Facom tools.

I payed full price on my 3/8' kit knowing what it was. The exact equivalent minus the ratchet comes from USAG. It is about 1/3 to 1/2 more expensive. Of course people shopping a Lowes aren't shopping quality. They exclusively shop price first, it's been studied by retail companies already. It's why they didn't want to give space to the V line. Like some one said on here, a tool on the shelf for more then 90d is a failure. That is true, lows doesn't want to sit on stock for extended periods of time.

 

[JohnnyU]

^ Therein lies the crux of it: the "typical Lowes shoppers" aren't looking for quality in most cases - they want to get a job done at the lowest possible cost. Otherwise their "Kobalt" line would be a total flop.

Im not going to defend Lowes or SBDs marketing plans because frankly they **** at it.

Ill give Lowe’s some credit for trying to fill a void in their tool line up with something above Kobalt/CM, but not educating consumers as to why they might want to buy a $35 ratchet over a $15 Kobalt one is on them and SBD. Same with the Flex line, Wiha, etc


SBD probably would have been better off test marketing it at somewhere like Acme, build up some good will on the line and then decide if they want to push it out to big box.

FWIW, I think there’s a change coming from younger consumers. They seem more more In the “Buy once, cry once“ mold Vs the preceding generation, maybe not SO, but Tekton & Icon seem really popular and the V series could have fit in nicely

Im not going to complain, I got a lot of nice tools for cheap.

 

[four.cycle]

Not sure why people push the craftsman in trouble narrative when they have cleared evidence on the contrary. Stanley most definitely recoup they 900m investment, that's not to say they didn't have missteps.

Stanley has zero plans on bringing the facom brand to the USA as it the top in Europe. The prices also don't let them as they are tool truck quality and pricy. As we know, no one but a few of us payed full pricing for those rebranded Facom tools.

I'm not necessarily in disagreement with you, but $900 million dollars is a lot of money. That's a LOT of widgets they have to manufacture and sell to just make up for that - before they actually start realizing a return on their investment.
8 years / $900 million dollars = $112 million per year in net profit they'd have to make before they're above water on that one.
I have to question whether they've really been able to do that with the Craftsman line.

They may well have exceeded that number in net profit company-wide, because they've got their fingers in a whole bunch of pies, but if you just look at the Craftman part of the picture, I would posit they're still under water there.

SBD probably would have been better off test marketing it at somewhere like Acme, build up some good will on the line and then decide if they want to push it out to big box.

Acme?
You mean ACE?

 

[Cruzan80]

Let's not forget all of the Craftsman power tools they are selling. It is their answer to Ryobi, in a name more people recognize.

 

[four.cycle]

where are they selling power tools?
I'm confused. shop vacs? or table saws?

 

[Cruzan80]

20V power tools. All of the cordless stuff.

Sorry, and all the OPE stuff (lawnmowers, snowblowers, etc).

 

[65k10]

Acme?
You mean ACE?

Based on his location I assume he is talking about the regional (IA, MN, ND) tool store Acme Tools. They generally sell better quality tools than what you will find in a big box stores or even your average hardware store these days. The one I was in actually had part of an aisle devoted to Wright Tools. I could see the idea of trying to introduce a high end line of Craftsman tools at such a store as a test market of sorts possibly being more productive than hoping Lowes can carry such a line.

 

[finn]

Based on his location I assume he is talking about the regional (IA, MN, ND) tool store Acme Tools. They generally sell better quality tools than what you will find in a big box stores or even your average hardware store these days. The one I was in actually had part of an aisle devoted to Wright Tools. I could see the idea of trying to introduce a high end line of Craftsman tools at such a store as a test market of sorts possibly being more productive than hoping Lowes can carry such a line.

I hear you, but Acme and the like are tiny fish in a very large ocean.

I suspect Ace, HD, and Lowes each sell more tools by Monday at 10:00 am than Acme sells in a week, or maybe even a month.
Acme may have an aisle full of Wright tools, but that doesn’t translate to a huge, broad based demand for their tools. They’re a niche player.

 

[JohnnyU]

I hear you, but Acme and the like are tiny fish in a very large ocean.

I suspect Ace, HD, and Lowes each sell more tools by Monday at 10:00 am than Acme sells in a week, or maybe even a month.
Acme may have an aisle full of Wright tools, but that doesn’t translate to a huge, broad based demand for their tools. They’re a niche player.

That’s why I said test market.

Much easier to educate and market to a smaller more specific customer base Vs Lowes just throwing it in a display with a bunch of other CM products and doing limited advertisement.

YMMV

 

[finn]

That’s why I said test market.

Much easier to educate and market to a smaller more specific customer base Vs Lowes just throwing it in a display with a bunch of other CM products and doing limited advertisement.

YMMV

A test market would likely a statistically representative sample of your target market. Acme customers aren’t that, but more like a narrow slice of those that would be better classified as tool aficionados, or what we refer to here as tool snobs here (not to be taken as a negative).

Another example is jury selection. You never see a jury with a lawyer selected as a juror.

 

[JohnnyU]

A test market would likely a statistically representative sample of your target market. Acme customers aren’t that, but more like a narrow slice of those that would be better classified as tool aficionados, or what we refer to here as tool snobs here (not to be taken as a negative).

Another example is jury selection. You never see a jury with a lawyer selected as a juror.

Well if you can’t gain market share with tool aficionados, you can pull the plug much quicker/cheaper as they are always going to be the early adopters. If it gains market acceptance one could develop a plan for big box roll out or maybe it just stays a niche line but at least you would have some data to base a rational decision on.


I guess launching with no marketing and hoping for the best is a plan