Sears Looking for Agent to License Craftsman and DieHard Brands

October 14 00:00 2011

New York, October 14 (rainbownewsline.com) – Sears Holding Corp (NASDAQ: SHLD) the largest US department-store chain, is looking for an agent to help license its Craftsman tool, Kenmore appliance and DieHard battery brands. It is planning to use a licensing model by which it would receive a fee to use its name on products as against its current agreement whereby it sells its own products and shares profits with the other merchants like Ace Hardware Stores and Costco Wholesale Corp.

In June, Sears had announced a licensing agreement with Dorcy International to sell DieHard-brand batteries and flashlights. Michael Stone, chief executive officer of The Beanstalk Group in New York, said in a phone interview that “It gets your name out there, your product out there, your brand out there, and it’s another revenue stream.”

No specific comments on the proposal were available from Sears, which is based in Hoffman Estates, Illinois. In an emailed statement, Michael Castleman, Vice president and Head of Kenmore, Craftsman, and DieHard brands, said yesterday that “As part of our strategy to grow the value of our proprietary brands, we evaluate all avenues including extending the brands into new markets and categories.”

Shares of Sears soared 6 percent in after-hours trading yesterday in New York and went up less than 1 percent to $70.44 today at 10:10 a.m.

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