Kenmore/Amazon Deal Typifies ‘Unlocking the Potential’ of Sears Brands, Says CFO
Financially ailing Sears is “committed to unlocking the potential of our brands and business through innovative partnerships,” such as the recent distribution agreement between Kenmore and Amazon (see 1707210042), said Chief Financial Officer Rob Riecker on a Thursday earnings call.…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
That agreement is “a major milestone” for Kenmore because it's "the broadest distribution to date of Kenmore home appliances outside of Sears-branded stores and related online retail platforms,” said Riecker. The Amazon partnership also is expected to open new “revenue streams” for the Kenmore, Sears Home Services and Innovel Solutions businesses, he said. With Kenmore smart appliances embedded with Amazon Alexa now available for immediate purchase and installation, the agreement also gives “a convenient, integrated offering to the millions" who shop Amazon every day, he said.