Lowe’s aims to leverage home décor brands

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Lowe’s aims to leverage home décor brands

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Origin 21 launched earlier this month across soft and hard home.

Mooresville, N.C. – Lowe’s is moving to expand its home décor brands in stores and online.

The new Origin 21 private label brand, which launched online earlier this month across multiple soft and hard home categories, will soon introduce patio collections as well as replacement cushions made with fibers derived from recycled plastic bottles. Parts of the collection will roll into stores in select décor categories.

Bill Boltz, EVP of merchandising, described Origin 21 as modern design “for the trend-setting Millennial customer, while our ever-popular Allen + Roth brand is tailored to the more traditional style.”

He noted that Lowe’s has been working over the last 18 months to enhance the Allen + Roth assortment, which now encompasses window treatments, rugs, bedding and bath, home accents and accessories, furniture, wall art and lighting as well as furnishings and fixtures for bathrooms and kitchens. The bulk of the collection is offered exclusively online.

Lowe’s surveys have found that consumers tend to be brand-agnostic about home décor, focusing instead on quality, style and price, said chairman and CEO Marvin Ellison in his remarks to analysts during the company’s fourth quarter conference call yesterday.

“[O]n the DIY side, specifically home décor, the customers are telling us overwhelmingly that they love our design capabilities for private brand. And so we’re going to lean into that for differentiation and also for a margin rate benefit,” he said, according to the call transcript from Motley Fool.

The Stainmaster carpet brand, which Lowe’s acquired in spring 2021, is also slated for expansion. Hard flooring will come first. Ellison said the home improvement chain will share more details on new categories for the brand over the next two quarters.

Looking ahead, the company sees macro trends favorable to its business. Millennial household formation will buoy home buying in the coming years, and the increase in the number of Baby Boomers who choose to age in place will provide additional home makeover opportunities, he said.

“And with the extension of remote work for some employees, we’re expecting a permanent step-up in the repair and maintenance cycle,” Ellison added. “And as a reminder, 50% of the homes in the U.S. are over 40 years old [and] will continue to require investments for upkeep.”

 

 



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Originally posted 2022-02-24 18:26:32.

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