Latest from Mag
People - Dec 21, 2012
Obituaries - Dec 21, 2012
November EPI Index Shows No Change
Housing Starts Dip 4% in November
Electrical Marketing - December 21, 2012
Around the Industry - Dec 21, 2012
Home Depot Inc., the nation's No. 1 home improvement retailer, named lighting manufacturer Royal Philips Electronics as its exclusive supplier of branded light bulbs in place of its current suppliers.
“Philips was selected for its product innovation and brand awareness as well as its delivery reliability and its dedication to environmental conservation,” said Jerry Edwards, executive vice president of merchandising, The Home Depot.
This means that Home Depot will no longer supply bulbs from companies including General Electric and Panasonic, a representative for Philips told Reuters.
Home Depot said in a statement that it expects benefits from the partnership as it considers international opportunities. Philips' comprehensive training also provides Home Depot personnel with superior knowledge in lighting. Philip's research-and-development efforts represent one of the largest ratios of sales dollars to R&D spending in the world.
“We are excited about the potential of this partnership,” said David C.M. Hamill, president and chief executive officer of Philips Lighting globally. “This alliance exemplifies how our marketing, innovation and delivery reliability forge new opportunities with our largest customers. We expect the agreement to enhance The Home Depot's business and our own.”
Philips, a Netherlands-based company said it expects the agreement to enhance both companies' businesses.
“The Philips' agreement is a major indication of the many ways we are constantly improving our merchandising mix to match our customers' changing needs,” said Edwards.
“We believe our demonstrated innovation and ability to drive product mix and profitability through category management also were major factors in this historic partnership,” said Larry Wilton, president and chief executive officer, Philips Lighting North America. “We have pioneered the growth of new lighting categories, from CFLs and household halogen bulbs to ALTO low-mercury fluorescent lamps.”