Coming soon: Lowe’s Essentials
A new private brand is coming to Lowe’s: Lowe’s essentials.
It’s described as a dollar-stretching, opening-price-point brand that will hit stores in the first quarter of 2025.
Speaking to CNBC personality Jim Cramer on his Mad Money show, Lowe’s CEO Marvin Ellison said the idea for the new brand emerged as a response to the question: How can we be a better opening-price-point retailer for home improvement?”
He explained: “Rather than having a customer go to a dollar store environment or even a mass merchant for a lower price point for a home goods item, we’re going to create our own brand that's going to create that opening price point—that cart starter—to get them to come in.”
In a social media post, Lowe’s Sarah Dodd, senior vice president of global merchandising, added some color:
“Lowe’s Essentials is helping customers maximize their budgets. With products $5 and under, we’re making home improvement even more accessible, or as Marvin put it, ‘we’re offering customers great quality at a value.’”
Lowe’s current crop of private label brands is headlined by Kobalt tools and allen + roth home decor. Also in the Lowe’s private-label lineup are Stainmaster carpet and flooring, Sta-Green lawn and garden care, and Moxie household cleaning, among others.
