Sears
Online retailer of appliances, tools, and home goods.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | $250m | Debt |
| Total Funding | 000k | ||
Sears, Roebuck and Co. operates as a retailer of general merchandise, home appliances, tools, and automotive parts and services. The company has shifted its business model from a heavy reliance on physical department stores to a more robust e-commerce platform supplemented by a small number of remaining brick-and-mortar locations. Revenue is generated through direct product sales online and in-store, alongside specialized services like home appliance installation, repair, and maintenance through its Sears Home Services division.
The company was founded in 1886 by Richard W. Sears, a railroad station agent who began by selling watches via mail-order. In 1887, he moved the business to Chicago and hired watchmaker Alvah C. Roebuck. They officially formed Sears, Roebuck and Co. in 1893, expanding their mail-order catalog beyond jewelry to a wide array of goods, which proved revolutionary for rural customers with limited access to retail. Julius Rosenwald became a partner in 1895 and was instrumental in the company's rapid growth and reorganization. A significant milestone was the opening of the first retail store in Chicago in 1925, engineered by then-vice-president Robert E. Wood. This led to massive expansion, and by 1931, retail store sales surpassed catalog sales. For decades, Sears was the largest retailer in the United States.
After years of declining sales and increased competition, the company's parent, Sears Holdings, filed for Chapter 11 bankruptcy in October 2018. In 2019, the business was sold to ESL Investments, a hedge fund led by former CEO Edward Lampert, and its assets were moved to a new subsidiary, Transformco. This has resulted in the closure of most of its physical stores. The company now focuses on its e-commerce site, its remaining stores, and its well-known private-label brands such as Kenmore and Craftsman, which are also sold through other retailers. Sears Home Services remains a key part of the business, providing residential and commercial repair and installation services across the United States.
Keywords: home appliances, online retail, appliance repair, tools, Craftsman tools, Kenmore appliances, home services, department store, e-commerce, home goods, automotive parts, lawn and garden, direct-to-consumer, mail-order catalog, retail history, home improvement, HVAC services, DieHard batteries, consumer electronics, clothing retail