More than tools! Ace Hardware hits 100 years and 5,000 stores, celebrating with new products and a commitment to community.
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| Ace Hardware hits a home run! 100th anniversary coincides with record store growth and innovative new products. Symbolic image |
Oak Brook, Illinois, July 18, 2024:
Ace Hardware, the world's largest retailer-owned hardware cooperative, is clanging its way into its second century with a resounding success story. 2024 marks a momentous year for the company, not only for celebrating a century of service but also for achieving record-breaking store growth.
On July 16th, 2024, Ace Hardware announced a double dose of good news. They not only celebrated the opening of their 100th new store this year, but this milestone location also happened to be their 5,000th domestic store – Fixit Ace Hardware in Roswell, Georgia. This serendipitous coincidence underscores the company's continued relevance and impressive expansion.
While the news of new stores is exciting, Ace Hardware President and CEO John Venhuizen highlights a key element behind their success: a deep belief in the power of local ownership. He emphasizes that "human connection and a servant heart" are not roadblocks to success, but rather the driving force behind it.
This philosophy is reflected in their unique cooperative business model. Ace stores are not simply franchises, but rather locally owned and operated by entrepreneurs who are also shareholders in the company. This fosters a sense of community ownership and investment in the success of each store.
Ace Hardware's expansion isn't limited to new investors. Existing retailers are opening additional locations, demonstrating confidence in the brand and its model. Additionally, some competitor stores are converting to Ace, recognizing the value proposition it offers to both customers and owners.
The combined effect of these factors has propelled Ace to open a record-breaking 111 stores in the first half of 2024 alone, and they're aiming to surpass 200 new stores by year-end. This impressive growth signifies the continued demand for the "Helpful Hardware Folks" experience across the country.
While store growth is a significant achievement, Ace isn't resting on its laurels. They're also commemorating their centennial with innovative product launches. These include Loud Mouth barbeque sauces and seasonings, venturing beyond their traditional hardware offerings. Additionally, the introduction of Ace Vintage Threads, a clothing line featuring the company's heritage logos, is a nostalgic nod to their long history.
A Centennial Celebration and a Bright Future
With over 5,800 stores operating globally in 60 countries, Ace Hardware has cemented its position as a hardware powerhouse. Their unwavering commitment to local ownership, human connection, and continuous innovation has paved the way for a successful 100 years. As they step into their second century, Ace seems poised to continue providing communities with the helpful hardware folks and essential supplies they need, all while fostering a sense of local ownership and entrepreneurship.