Sears Holdings Corp (SHLD) announced Tuesday that it has signed two licensing deals that will expand its Kenmore flooring products and DieHard batteries and flashlights globally.
Kenmore and Kenmore Elite vacuums and accessories will now be manufactured by South Carolina-based Cleva North America Inc for retailers worldwide. DieHard batteries and flashlights are set to move production to Ohio-based Dorcy Int'l for distribution in the U.S., Puerto Rico, the Caribbean, Latin America and some South Pacific countries.
"We will have direct and active involvement in building the business with our licensing partners," said Tom Park, president of Kenmore, Craftsman and DieHard brands at Sears. This move comes after Sears' recent decision to launch a Kenmore dedicated brand presence on Amazon.com (AMZN) .
Sears stock traded flat premarket Tuesday at $8.55.
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