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Masters Home Improvement was an Australian home improvement chain operated by two retailers; Woolworths [2] and Lowe's. It was established as a way for Woolworths to enter the hardware retail market, which has been historically dominated by Bunnings , owned by their competitor Wesfarmers .
There are 19 centres in New South Wales, 12 in Queensland, 2 in South Australia, 15 in Victoria, and 4 in Western Australia. [13] The majority of HomeCo centres are former Masters Home Improvement stores which were acquired in 2016, with the other portion of centres being acquisitions of preexisting centres. [3] [14]
These were later either closed or turned into large-concept Mitre 10 stores. In 2011 Masters Home Improvement entered the market and opened more than 49 stores, with an average footprint of 13,500 m 2. Masters Home Improvement, which was the second-largest hardware chain in Australia, closed in December 2016. [4]
Kobalt is a line of hand and mechanics' tools, power tools, and tool storage products owned by the American home improvement chain Lowe's. It is the house brand for both Lowe's in North America and their joint venture with the now defunct Masters Home Improvement in Australia.
Masters Home Improvement – In 2009, Woolworths announced a joint venture with US home improvement retailer Lowe's to enter the home improvement market. [28] Based on documents submitted to the government, Woolworths' hardware chain will be named Masters. [29] This was confirmed on 2 May 2011. [30]
A Masters Home Improvement store in Majura. During 2009, Woolworths and American retailer Lowe's purchased Danks Ltd [41] owners of the Home Timber and Hardware brand and then entered into a joint venture to launch a new hardware brand named Masters Home Improvement.
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Trading as Masters Home Improvement, the first store opened in Braybrook, Victoria, to tradesmen on August 31, 2011, and later to the general public. Masters was a joint venture between Lowe's and Woolworths to compete against Bunnings, which operates in the large bigbox format similar to Lowe's and Home Depot.