DIMO Partners with American Power Tools Manufacturer Stanley Black & Decker
Diesel & Motor Engineering PLC (DIMO) has announced their partnership with world-renowned American power tools manufacturer, Stanley Black & Decker. Through this partnership, DIMO will market DeWalt, Black & Decker and Stanley products in Sri Lanka and further emphasize DIMO’s product portfolio expansion with these distinguished brands. The local power tools industry consists of three segments; the high-end market, middle market and the DIY market (Do it Yourself). This joint venture would enable DIMO to cater to all these market segments in Sri Lanka.
DIMO would be showcasing a new product portfolio which includes power tools, accessories and hand tools from Stanley, power tools and accessories from DeWalt and power tools and home appliances from Black & Decker. With the inclusion of these new brands, DIMO will be able to increase its market share and contribute significantly to the company’s bottom line. The new product range will be marketed under the DIMO Retail Cluster where it brings different world-renowned brands for Sri Lankan consumers while improving their quality of life.
To mark the partnership between DIMO and Stanley Black & Decker, Chairman & Managing Director of DIMO Ranjith Pandithage stated, “We are proud to join hands with the world’s largest power tools manufacturer Stanley Black & Decker to bring the world’s best brands to Sri Lankan consumers with hopes of adding value to their work and day to day lives. This partnership is an ideal example of DIMO’s commitment towards its brand promise as well as fulfilling a common vision that both parties’ hold on to, being the aim to improve people’s living standards and expose them to tools from a world class manufacturer”.
“Emerging markets such as Sri Lanka is a very important growth driver for a company like Stanley Black & Decker. Stanley Black & Decker is the global leader for tools and storage solutions and our growth approach is centralized towards customer needs and product innovation. Our customer segments consist of industrial customers, professionals such as carpenters, plumbers and even household customers who prefer to handle their work on their own. This shows that our product portfolio is focused on solving the everyday problems of our customers,” commented Managing Director (India) of Stanley Black & Decker India Private Limited Radhesh Verma.
Chief Operating Officer, Retail Cluster of DIMO, Viranga Wickramaratne stated, “DIMO always partners with the world’s best engineered brands and to align with our strategic direction, we need to partner with a company that possesses a comprehensive product portfolio which can cater to all segments in the local power tool industry. Stanley Black & Decker fulfilled these requirements for us and we believe that they are the perfect partner in catering to Sri Lanka’s power tool market, which is worth Rs 3.5 billion”.
Director Sales, South Asia of Stanley Black & Decker India Private Limited, Nilanjan Bhattacharya acknowledged Sri Lanka as a growing market and is therefore, planning to increase their presence here while investing heavily in the country. “We are sure that this partnership will help to build a lot of synergy between the two companies. We have recognized DIMO as an esteemed player in the local market,” he further added.
DIMO’s expertise in managing renowned international brands will supplement this partnership and deliver fruitful results. DIMO will establish a 24/7 onsite after-sales mobile service to further strengthen their after-sales capabilities. Plans are also currently underway to appoint several authorized service dealers dedicated only for these new brands providing more convenience to customers island-wide. The company recently organized two gala events to announce this new partnership to its trade business partners at Hilton Colombo. The first event targeted the industrial and institutional sales segment. This segment heavily depends on the after-sales service aspect and they are very keen on after-sales service when it comes to purchase decisions. At the launching ceremony, there was good response from prospective customers as there were nearly 150 representatives from different companies present to witness the occasion.
The second event was dedicated to Power Tool dealers who were present from different parts of the country. Dealerships play an integral role in the power tools business and DIMO has even launched a new rewarding scheme for their dealers. Long-standing dealers were also rewarded at the occasion portraying their commitment towards DIMO’s brand promise.
As the nation’s premier supplier of automobiles and automobile solutions, DIMO has always been a cut above the rest when it comes to identifying the needs of the community. Consequently, DIMO adds value to some of the world’s most sought after and best engineered brands globally through its local strengths and capabilities.