Featured Company News – Sears Signs Two Licensing Agreements to Expand International Reach of Kenmore(R) and Diehard(R) Brands

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LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sears Holdings Corp. (NASDAQ: SHLD) (“Sears”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SHLD. The Company announced on August 22, 2017, that it had signed two licensing agreements to expand the international reach of Kenmore® and DieHard® Brands. As per the licensing agreement, both Cleva and Dorcy will be responsible for shipping the branded products to retailers. The financial and other details of both agreements were not shared by the company. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Licensing agreement – Kenmore® Brand

Sears has signed a licensing agreement with Cleva North America, Inc. wherein Cleva will manufacture Kenmore® and Kenmore Elite® vacuums and accessories for distribution to retailers across the globe. The agreement covers vacuum cleaners, stick vacuums, hand vacuums, robotic vacuums, carpet cleaners, bare floor cleaners, sweepers, and accessories.

Kenmore® brandis backed by 100 years of trusted performance and is one of America’s most popular home appliance brands. Its wide product range include, washing machines, dryers, dishwashers, vacuum cleaners, microwaves, cooktops, refrigerators, freezers, air conditioners, dehumidifiers, etc., as well as small kitchen appliances.

In July 2017, Sears announced that that it has struck a deal to sell all Kenmore® appliances on Amazon.com. This would significantly expand the availability of Kenmore® brands across the US. Additionally, the full line of Kenmore Smart appliances will be able to connect with Alexa, Amazon’s personal assistant via smartphones. The agreement with Amazon is the broadest distribution of Kenmore® products outside of Sears’ branded stores and Sears’ online retail platform. The agreement also covered Sears Home Services and Innovel Solutions, which provide white-glove service for delivery, installation, and extended product protection for the complete range of home appliances.

Greenville, South Carolina based Cleva North America is a leading manufacturer and distributor of Wet/Dry Vacuums, Outdoor Power Equipment, and Household Vacuums. Its portfolio of innovative brands, include Vacmaster Professional®, Vacmaster®, DuravacTM, and LawnMaster®. Cleva is also the official licensee of Armor All™ branded wet/dry car vacuums.

Licensing agreement – DieHard® Brand

Sears has signed a licensing agreement with Dorcy, International wherein Dorcy will manufacture DieHard® Alkaline batteries and flashlights which would be distributed in US, Puerto Rico and the Caribbean, Latin America as well as at select locations in the South Pacific. The agreement renews and expands the existing distribution of these DieHard® products and covers A, AA, AAA, C, D, 6 volt and 9-volt alkaline specialty batteries, and flashlights.

DieHard® is a premium brand of automotive battery marketed by Sears. It was introduced in 1967 and, apart from automotive battery, DieHard® offers batteries for motorcycles, boats, and personal watercraft, golf carts, garden tractors, snowmobiles, ATVs, and mobility equipment.

Columbus, Ohio based Dorcy International is a global enterprise designing, producing, and distributing portable lighting products and accessories including LED Flashlights, spotlights and headlights. Dorcy is also present in Australia, Canada, China, Hong Kong, and Switzerland.

Management comments

Commenting on the signing of the licensing agreement, Tom Park, President of Kenmore, Craftsman and DieHard brands at Sears Holdings, said:

“Both of these agreements are examples of our expansion strategy to unleash the power of these iconic brands internationally. We will have direct and active involvement in building the business with our licensing partners and we’re confident that both Cleva and Dorcy will maintain our high-quality standards.”

Bob Davis, President of Cleva North America added:

“We are excited about the opportunity to expand the Kenmore line of vacuums to key retailers and continue the legacy of the Kenmore brand. Cleva is passionate in our commitment to bring top performing, high-quality Kenmore vacuums to the market. With our ongoing attention to product innovation and consumer focused solutions, Cleva will be adding new products to its current award-winning portfolio of Kenmore vacuum cleaners.”

Tom Beckett, President and CEO of Dorcy International stated:

“We are thrilled to be partnering with the DieHard brand to bring this incredible product portfolio to a wider consumer audience. Dorcy’s global development team is working hard to create new and innovative products in this space that reflect the trust and integrity that have long been associated with the DieHard name.”

Sears has been facing severe financial problems in last few years. The Company has been trying to get back in the game and announced a restructuring plan in June 2017. The restructuring plan included shut down of non-profit making stores; sale of non-core business, real estate assets; and job cuts. The funds from sale of business and real estate were to be utilized to pay off debts. The current licensing agreement is a part of the company’s efforts to boost the sale and footprint of the Kenmore® and DieHard® products.

Last Close Stock Review

On Wednesday, August 23, 2017, the stock closed the trading session at $8.57, dropping 5.09% from its previous closing price of $9.03. A total volume of 1.25 million shares have exchanged hands. Sears’ stock price surged 14.73% in the last three months and 8.34% in the previous six months. The stock currently has a market cap of $871.48 million.

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