The companies had a long-standing relationship, according to PPG’s Director of Corporate Communications, Mark Silvey.
Lowe’s provided a primary sales channel for a number of PPG’s brands, including its time-honored Olympic brand paints and stain products, Silvey noted.
“While PPG is disappointed with Lowe’s decision, PPG believes this will create an opportunity to expand the distribution of its products, including Olympic brand products, through PPG stores, dealers and other distribution partners,” Silvey said. “Olympic has been America’s most trusted stain brand since 1938 and recently rated among the top stains by a leading independent consumer rankings magazine. PPG remains confident in its long-term strategy to support customers and looks forward to expanding the Olympic brand and its strong portfolio of paints and stains to new points of distribution.
OLYMPIC sales at U.S. Lowe’s locations represents less than $300 million of PPG’s annual sales, per Silvey.
“PPG plans to aggressively and appropriately adjust its cost structure to adapt to this change in its business,” the director said. “PPG continues to value its longstanding relationship with Lowe’s and will continue to supply certain specialty building materials to Lowe’s stores.”
PPG’s architectural paints, stains and coatings products are distributed through a diverse network that includes more than 900 company-owned stores, more than 4,000 independent dealers, and approximately 8,000 major retailer locations, according to Silvey.