The Globe and Mail reports in its Wednesday edition that in the home improvement retail battle, Lowe's Canada is gunning to become the top choice of shoppers following its takeover of Rona. The Globe's Marina Strauss writes that following its $3.2-billion acquisition, which closed Friday, U.S. parent Lowe's now has just over $6-billion of annual sales in this country, about $1-billion less than top player Home Depot Canada.
"We believe we can become the No. 1 choice for home improvement retail in Canada," Sylvain Prud'homme, chief executive officer of Lowe's Canada, told The Globe.
Neither Lowe's nor Rona was as familiar a name in Canada as the No. 3 player, Home Hardware, industry observers say.
Now, as Lowe's Canada takes over Rona, it is wagering it can finally bolster its brand awareness along with its business.
Michael McLarney at industry publication Hardlines said Home Hardware has enjoyed stronger consumer awareness than either Lowe's or Rona, partly because of catchy advertising slogans over the years.
"Home Depot may have the biggest sales but Home Hardware still has the biggest brand awareness," said Mr. McLarney. Lowe's Canada will focus on internal growth rather than acquisitions.
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