NEW YORK (Reuters) - Sears Holdings Corp (SHLD.O) has appointed Leveraged Marketing Corp of America as its exclusive global licensing agent as it looks for opportunities to sell products under its marquee labels Kenmore appliances, Craftsman tools and DieHard batteries outside its own stores.
The operator of Sears department stores and the Kmart discount chain said on Thursday that it will work closely with Leveraged Marketing to identify, evaluate and manage licensing opportunities around the world.
Sears chief executive, Lou D‘Ambrosio, and Chairman Edward Lampert have often spoken about the potential for Sears to sell its brands elsewhere and keep their cachet, much as it has done already by selling some Craftsman tools in Ace Hardware stores. <ID: nN0399641>
Sears, which has been grappling with weak sales at its own stores, is now trying to boost sales by stepping up its online efforts and taking its marquee brands like Craftsman to other retail outlets such as Costco Wholesale Corp’s (COST.O) warehouse clubs.
It has licensed its DieHard brand to flashlight and battery maker Dorcy International, allowing the Ohio-based company to sell rechargeable batteries and flashlights under that name to retailers in the United States, Puerto Rico and the Caribbean.
Reporting By Dhanya Skariachan; Editing by Gerald E. McCormick