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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 .
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]
Based on documents submitted to the government, Woolworths' hardware chain will be named Masters. [29] This was confirmed on 2 May 2011. [30] The first store was located in Braybrook, Victoria and opened in September 2011. [31] As of June 2014, 49 Masters stores were operational in Australia.
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On 24 August 2016, it was announced that all Masters stores would close on or before 11 December 2016. It was also announced that Woolworths would sell the Home Timber and Hardware brand to Metcash. [53] In June 2015, CEO Grant O'Brien retired and Woolworths went without a CEO until the appointment of Brad Banducci in February 2016.
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Lowe's is the second-largest hardware chain in the United States (previously the largest in the U.S. until surpassed by the Home Depot in 1989) behind rival the Home Depot and ahead of Menards. [6] It is also the second-largest hardware chain in the world, also behind The Home Depot but ahead of European retailers Leroy Merlin, B&Q, and OBI. [7]
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