Lowe's Announces Another Round of "Making It ... With Lowe's," Now With Daymond John
Lowe’s announced this year’s round of its small business competition on Wednesday, this time in collaboration with "Shark Tank’s" Daymond John. According to USA Today, the pair will be hosting a program called Making It … With Lowe’s, a competition awarding applicants with the best product pitches small business grants and opportunities to sell their products at the home improvement chain. Applications close on July 30, and the grand prize winner receiving a $50,000 grant. According to a company press release, Lowe's is dedicated to its cause of helping under-represented business owners, especially through the COVID-19 pandemic, giving $55 million last year to diverse-owned businesses. Throughout the competition, Daymond John will guide business owners, mentoring and advising finalists.
Total Retail’s Take: Product innovation helps Lowe's and other retailers differentiate themselves from their competition. Unique product at what the consumer views as a fair price is integral to retail success. Through Making It ... With Lowe's, the retailer will be able to acquire new and unique products, all while supporting under-represented business owners. Lowe’s encourages diverse-owned small businesses to apply. The company’s CEO, Marvin Ellison, understands and relates to many of the challenges diverse business owners go through, as he is a Black CEO, himself. In its Wednesday press release, Ellison stated what the program means to the company.
“Making It … With Lowe's is an extension of our commitment to underserved communities and helps us ensure our products are as diverse as our associates and customers," Ellison said.