In 2016, Lowe’s accelerated its expansion into Canada with its acquisition of RONA in a blockbuster $3.2 billion deal that catapulted the #2 player in the US from a regional player in Canada’s home improvement market to a major player from coast-to-coast with several different formats and banners in their portfolio and over 500 stores. The combined businesses have about a 13% share of Canada’s $45 billion Home Improvement market.
In addition, as predicted by Field Agent, Lowe’s also picked up some prime real estate left vacant by the exodus of Target from Canada and they have used that space to expand their namesake banner in key markets.
In Edmonton, Lowe’s has recently rebranded and renovated a RONA location as the new concept store for Lowe’s Canada and we sent a few Field Agents to check it out and give us a virtual tour.
The Edmonton store underwent an extensive 16-week physical transformation from the former RONA which involved construction, departmental sequencing of new racking and re-merchandising, branding and IT conversion, as well as a significant investment in people with extensive training that is focused on new product knowledge and customer service. Lowe’s plans to convert 40 RONA stores to the Lowe’s banner in total.
Field Agent has great coverage in the Home Improvement trade and if you need to get visibility at what is happening at retail in this channel be sure to contact us at firstname.lastname@example.org
Download the report here