Saturday, November 7, 2009
Lowe's recent expansion
So I was happy to hear that finally Lowe's is slowly following other stepping out of the US. First it was Canada, then Mexico and now Australia. Lowe's announced in August 2009 their joint venture with the Australian retailer Woolworths to enter the Australian market with 150 big box style superstores. Would be interesting to see how Bunnings, owned by Wesfarmers and the largest home improvement chain in Southern Hemisphere with 223 stores would react. Well, why Australia- when the theme today is to chase the BRIC opportunity?
P.S. Did you know that Lowe's was around since 1940s. Much before Home Depot was founded in the 1970s. Lowe's was initially reluctant to switch to the big box format of Home Depot thinking that would not work since they were focused in smaller towns. Well now, they have almost completely converted to big boxism!