The CEO of Lowe’s Canada is reassuring Rona customers and suppliers after the $3.2-billion takeover of the Quebec-based hardware chain was completed last Friday.
Quebecers seem to have a love affair with home renovations - the province accounts for about 23 per cent of all home reno business in Canada.
Lowe's Canada CEO Sylvain Prud’homme said with the company's acquisition of Rona, it will only increase. The company says the best strategy is to continue to build on a well-established brand.
“(It’s) obviously a very important market that comes with a lot of nuance in terms of taste and expectations. We're very lucky to now be part of an organization that has all that knowledge through the Rona people,” he said.
Prud'homme said none of Rona's customers, employees or suppliers need to be concerned.
“Our strategy is a strategy of growth, so we're planning to invest in the network, have a clear, valued proposition defined for everyone,” he said. “So, from a job standpoint, we're looking to the future with growth.”
That growth is expected to come on two fronts: The chain of 539 stores across Canada will grow, as will their online business.
“There are a lot of people that do a lot of research online before actually going to the store. So there's a need for a very strong e-commerce platform,” explained Prud'homme.
One main change coming to Rona is the sale of appliances – something Lowe's stores are already doing and it's something Rona's competitors in Quebec are doing as well.
With a strategy of growth and broader focus on merchandise, Prud'homme said Rona's suppliers are more important than ever.
“We are going to continue to support them. We will meet with every one of them. We'll be part of some vendor fairs that are being put together right now to make sure we give them access to the network,” he said.
There are no plans to open or rebrand any Rona stores as Lowe's and the company's head office will remain in Boucherville.
