Walmart Makes a Big Move Into Home Improvement
Just in time for the holidays, Walmart (NYSE: WMT) is stepping onto Home Depot's (NYSE: HD) turf in a big way.
The retail giant is launching a wide-ranging line of tools in areas from home improvement to lawn and garden to automotive, including items like leaf blowers, lawn mowers, and chain saws. Operating under the brand Hart, which will be exclusive to Walmart, the new product line works with an interchangeable battery platform of 20 or 40 volts, allowing Walmart customers to layer on new tools according to their need. Since Hart tools don't require cords or gas or traditional batteries, the rechargeable platform should help create a valuable brand ecosystem, as customers are likely to expand their collections over time.
Walmart is launching a selection of Hart products ahead of the holidays and will sell a complete set of over 340 items by next spring, rolling it out in time for next year's spring home improvement season. Hart is made by TTI, the same company that makes Milwaukee, Ryobi, and Hoover.
Source Fool.com
