LMCA will extend the brands into new categories and geographic markets, both within Sears Holdings and externally.
"This global licensing initiative for Kenmore, Craftsman and DieHard is aligned with our plans to strategically utilize our brands and other key assets to increase their long-term value,” says Lou D’Ambrosio, chief executive officer and president, Sears Holdings. “We will continue to focus on delivering the quality and value of three of America’s most iconic brands to our customers and members, enhancing our company’s position as a leading integrated retailer.”
“Our strategies to build the strength of Kenmore, Craftsman and DieHard brands center on outstanding quality and reaching new customers and creating new brand enthusiasts, both in the U.S. and abroad,” says Michael Castleman, president, KCD. “LMCA is a long-time leader in corporate trademark licensing, and their experienced senior team and global reach will help us execute this component of our strategies.” “Kenmore, Craftsman and DieHard are three of America’s most respected and trusted brands,” said Allan Feldman, president and chief executive officer, LMCA. “LMCA is very excited to be working with KCD, Sears Holdings and these great brands. We believe some of the most successful and innovative companies in the world will be interested in licensing them. With over 70 percent of the Fortune 500 already licensing their brands to create new revenue streams more efficiently, this is a very logical step for KCD.”