Sears Sells DieHard Brand to Advance Auto Parts for $200M
It’s no secret that major retail outlet, Sears, has been on the rocks for quite some time now. In addition to closing stores, Sears is selling off of some massive brands. Some of these brands have become cornerstones of American culture and more specifically, the American garage.
For example, Craftsman is a brand that most people in America probably recognize in some capacity. Those who work around the garage know them for their lifetime warranty. For those unacquainted, that brand formerly belonged to Sears and has since been sold. In March 2017, Stanley Black & Decker shelled out $900 million to obtain the brand from under the Sears umbrella. That’s not the only brand that has gone, now, as the Sears has chopped off yet another limb.
As of now, DieHard has officially been sold from Sears as well. Claiming the brand, Advance Auto Parts will now take over for the sum of $200 million. The sale will include automotive-related components like batteries. Meanwhile, Sears will reserve the right to sell them still as a retailer for the time being. However, Sears does retain part of the DieHard brand, producing products in other areas. For example, Sears has been selling DieHard boots and clothing. They might move DieHard in the direction of lawn and garden, for example.
Long gone to the days where Sears was a major player in the American shopping habits. However, it looks like they’re positioning themselves in a little bit of a new market. We have seen bigger comebacks than this before. It leads us to wonder if Sears will ever become apart of that heartwarming comeback storybook.
As of most recent official closings today, there are 182 Sears buildings left in the United States. That accounts for only a fraction of the number of Sears that were open just a decade ago.