The Home Depot Inc. (HD - Free Report) announced the acquisition of Blinds.com, the global leader in online window coverings. However, Home Depot did not disclose the deal terms.
The company, competing with Lowe's Companies Inc. (LOW - Free Report) , stated that this strategic acquisition will help it expand in the fast-developing online window draping market. Also, it would enable Home Depot to derive benefits from Blinds.com’s expertise in sales and service.
Blinds.com, based in Houston, has been selling window drapes for almost 12 years through its network of highly qualified professionals. It caters to customers through phone, video calls and chats and over the past seven years innovated and constructed a simple and flawless mobile and web experience.
Home Depot, which currently has inter-connected retail methods underway, will work toward extending Blind.com’s technology to its stores and website following the acquisition in order to achieve its goal of enhancing the purchasing process for window coverings.
Blinds.com, which is collaborating with Home Depot, will still have its management team stationed and working at Houston. From its headquarters, the company will continue to focus on strengthening its brands, enhancing customers’ experience and maintaining its exclusive service culture. As per the Chief Executive Officer (CEO) of Blinds.com, Home Depot would be an ideal partner, supporting the long-term goals of the company.
Home Depot is a leading player in the highly-fragmented home improvement industry, with over 2,200 retail stores across the globe, offering a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, and related services. The company has implemented significant changes in its store operations to make them simpler and customer-friendly. These initiatives are expected to induce more traffic to its stores.
The company benefitting from resurgence in the housing market, currently holds a Zacks Rank #2 (Buy). Other stocks in the home improvement industry that warrant a look include Lumber Liquidators Holdings Inc. (LL - Free Report) and Builders FirstSource Inc. (BLDR - Free Report) , both carrying a Zacks Rank #2 (Buy).