Sears will sell Kenmore products on Amazon

21 July, 2017, 01:03 | Author: Sherri Guerrero
  • Kenmore breaks free of brick and mortar with Amazon deal

In February, Sears inked a deal to allow California-based Permasteel to manufacture Kenmore grills for distribution at retailers nationwide, and Ace Hardware sells Kenmore water heaters and softeners.

Alexa-enabled Kenmore Smart connected room air conditioners are the first Sears products available on Amazon.com.

Under the deal, Amazon would offer the most extensive platform for Kenmore products outside of Sears stores and websites, the company said.

It's a win for Sears, which has closed more than 200 stores this year amid declining foot traffic.

It's an interesting reversal of fortune for Sears, whose sales have been in the hole for years - mainly due to competition from e-commerce sites such as Amazon.

"We continuously look for opportunities to enhance the reach of our iconic brands to more customers and create additional value from our assets", said Edward S. Lampert, Chairman and Chief Executive Officer of Sears Holdings.

"This will significantly expand distribution and expose the brand to new customers, and we're hopeful it will lead to a lot more sales", said Kenmore Brand President Tom Park.

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Sears will begin selling its appliances on Amazon.com, including smart appliances that can be synced with Amazon's voice assistant, Alexa.

According to the Amazon product description, the air conditioner features a Smart AC app that lets consumers connect their smartphones to turn the AC on and off, change the temperature, set schedules and control modes and fan speeds.

Sears shares jumped almost 20% after the news, marking perhaps a glimmer of hope for the one-time appliance giant.

Sears, once the country's largest retailer, dominated the industry for years by building a collection of well-known brands such as Kenmore and DieHard as well as Craftsman, which it sold to Stanley Black & Decker earlier this year for an estimated $900 million.

The announcement before the opening bell Thursday sent shares of Sears soaring more than 19 percent in morning trade.

Thrilled investors drove Sears shares up 13.4% to $9.88 at 1:14 p.m.

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