Woolworths to enter $24 billion hardware sector
− Grows local independent retail hardware sector via acquisition of Danks
− Launches destination home improvement store network
− Announces JV with leading US home improvement retailer Lowe’s
The Board of Woolworths Limited (Woolworths) has approved plans for the company to enter the $24 billion plus hardware sector with a multi format strategy designed to meet the everyday home improvement needs of Australian consumers.
First Coles and Woolworths compete in the supermarket aisles. Then the competition moved further into the bottle shop, and also service station sector. Now they will compete again in Retail Hardware sector or home improvement sector.
This fresh new home improvement offer will be based on a combination of significant local and international industry expertise, the right range representing value and choice; and a mix of convenient traditional hardware store formats and large destination home improvement stores to broaden consumer choice.
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