United States. PPG recently announced that late on February 27, 2018, home products store Lowe's informed it that it will discontinue the sale of Olympic-branded paints and inks at its U.S. retail stores beginning in mid-2018.
Following the long-standing relationship between the two companies, the paint maker now said this development will create an opportunity to expand the distribution of its products, including Olympic brand products, through PPG stores, distributors and other distribution partners.
"Olympic has been America's most trusted dye brand since 1938 and recently ranked among the best by a leading independent consumer 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 dyes to new distribution points," the official statement said.
Sales at Lowe's U.S. stores account for less than $300 million of PPG's annual sales. The company plans to aggressively and appropriately adjust its cost structure to adapt to this change in its business. However, PPG indicated that it continues to value its long-standing relationship with Lowe's and will continue to supply certain specialty building materials to its stores.
PPG's paints, dyes and architectural coatings products are distributed through a diverse network that includes more than 900 company-owned stores, more than 4,000 independent distributors, and approximately 8,000 major retail locations.
