MOORESVILLE, N.C. - Lowe's Companies, Inc. (NYSE: LOW) announced today it has named Olympic Paint and Stain its 2013 Innovation Partner of the Year. Olympic was honored with the award at Lowe's annual vendor meeting this month. The award recognizes an innovative product that helps consumers realize their home improvement goals.
Olympic RESCUE IT! provides consumers with a cost-saving option to rescue, instead of replace, severely damaged or weathered decks, patios and driveways. The exterior resurfacing stain, which tints to more than 110 colors, features outstanding elasticity to fill wood and concrete splits and cracks up to a quarter-inch deep. The resurfacer's flexible, crack-bridging ability results in a long-lasting, uniform finish that enhances the appearance of a deck or concrete surface while allowing consumers to save money, time and energy by avoiding costly replacements.
Olympic launched the product exclusively at Lowe's in March 2013, and consumers immediately responded to the product's affordability and ease of use. In fact, the product has earned a perfect five-star rating and a 100 percent recommendation rate from consumers on Lowes.com.
"With the launch of its new resurfacing product, Olympic rescued consumers who were previously stuck with only costly replacement options," said Mike Jones, Lowe's chief merchandising officer. "By working hand-in-hand, Olympic and Lowe's have raised the bar on delivering quality and value, helping make home improvement simpler by solving a complex problem for customers."
Olympic Paint was selected from vendors in product categories across the store, and the award is determined based on the following criteria: innovation, productivity and popularity.
For more information on innovative products at Lowe's, visit Lowes.com/Innovation. Olympic Paint is a category leader in the paint segment with distribution exclusively in Lowe's. From Olympic ONE primer-and-paint-in-one to the zero-VOC (volatile organic compound), low-odor ICON Paint line, Olympic Paint addresses consumers' desire for durable, affordable and innovative paint products. For more information, visit Olympic.com.
With fiscal year 2012 sales of $50.5 billion, Lowe's Companies, Inc. is a FORTUNE® 100 company that serves approximately 15 million customers a week at more than 1,825 home improvement and hardware stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.
PPG: BRINGING INNOVATION TO THE SURFACE.(TM) Olympic Paint and Stain is a product of PPG Industries. PPG's vision is to continue to be the world's leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit http://www.ppg.com.
Source: Lowe's Companies, Inc.
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