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Lowe's and manufacturing partner J.H. Williams launched Kobalt in 1998, [1] with the intention of competing against rival retailers Sears and The Home Depot and their respective Craftsman and Husky tool brands. [2] In 2003, the Danaher Corporation began producing the majority of Kobalt hand tools. [3] [4]
The first Lowe's store, Mr. L.S. Lowe's North Wilkesboro Hardware, opened in North Wilkesboro, North Carolina, in 1921 by Lucius Smith Lowe. [8] After Lowe died in 1940, the business was inherited by his daughter, Ruth Buchan, who sold the company to her brother, James Lowe, for $4,200, [ 9 ] that same year.