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Hardware Retail Leader Unveils New Store Model Celebrating 100 Years of Excellence
Ace Hardware, the world's largest retailer-owned hardware cooperative, announced last month "ELEVATE3 Ace," its new experiential store concept to roll-out at new and existing stores over the next five years, supported with a $1 billion investment. This groundbreaking, immersive store design, unveiled at their fall convention in Chicago, marks a fundamental shift in the Ace store model and has proved to boost both the customer experience and drive store growth.
"Elevate Ace is not just a new store format; it's our vision to become famous for four things in the neighborhoods we serve; namely Paint, Power, Backyards & Barbeque, and Home Preservation," said John Venhuizen, Ace Hardware President and CEO. "We believe in the power of local, and this initiative strengthens our community ties by creating experiential spaces that are not only places to shop but also places to connect. Our neighbors will benefit from locally relevant, premium products, expert advice, and immersive retail innovation. With Elevate Ace, we are setting a new industry standard as we aspire to truly be the best, most helpful store on the planet."
Key Features of the ELEVATE3 Ace Experiential Store Model:
Interest in owning and operating a local Ace Hardware store continues to be at historically high levels. Ace operates more than 5,800 locally owned hardware stores in all 50 states and 60 countries, with global sales topping $22 billion. Ace's unique cooperative business model offers local entrepreneurs not only the ability to become owners of their local store operation, but they also become one of a limited number of shareholders of Ace Hardware Corporation. Prospective owners interested in learning more can visit myace.com for more information.
"Over the next five years, Ace Hardware will invest over $1 billion in opening new stores and remodeling existing stores to better serve our neighbors," added Venhuizen. "The Elevate Ace store model will be at the heart of this investment."
Customers can look forward to experiencing ELEVATE3 Ace in limited locations beginning this year, with the full roll-out in new and existing stores launching January 2025 and continuing over the next five years.
Ace Hardware is the largest retailer-owned hardware cooperative in the world with over 5,800 locally owned and operated hardware stores in approximately 60 countries. Headquartered in Oak Brook, Ill., Ace and its subsidiaries operate an expansive network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China; Cuautitlán Izcalli, Mexico. Ace also owns Ace Hardware Home Services, a collection of local service companies with experienced professionals dedicated to helping homeowners complete home maintenance tasks. Since 1924, Ace has become a part of local communities around the world and known as the place with the Helpful Hardware Folks. For more information, visit acehardware.com or newsroom.acehardware.com.
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