True Value

True Value

Founded	1948 (Cotter & Company)
Headquarters	Chicago, Illinois, U.S.
Industry	Hardware stores
Products	Home improvement products, home appliances, tools, hardware, lumber, building materials, paint, plumbing, rental equipment
Members	more than 4,500
Website	truevalue.com

True Value Company is a retailer-owned hardware cooperative focused on providing its retailers with the products, service and retail expertise to be the best hardware store in town. With more than 4,500 independent retail locations worldwide, members of the cooperative own and operate their stores independently. A hallmark of the co-op is to provide retailers with the flexibility, independence and retail support to run a successful hardware store and business. True Value Company operates under several retail identities including True Value (hardware and Just Ask Rental), Grand Rental Station, Party Central, and Taylor Rental (equipment and party rental), Induserve Supply (commercial supplies), Home & Garden Showplace (garden centers and nurseries) as well as affiliate stores that purchase from True Value Company and operate under their own name. True Value supports its retailers through 13 regional distribution centers across the United States and 3,000 associates.

The co-op supports its retailers through 12 regional distribution centers and 3,000 associates. The corporate headquarters are in Chicago, Illinois.

Consumer Branding

The tagline "True Value.® Start Right. Start HereSM distinguishes True Value from other retailers in a way that speaks to the needs of consumers who are active in home improvement. Efforts are focused on motivating the do-it-yourself (DIY) enthusiast to visit True Value stores when they start a project. True Value has the right advice and the right product selection that perfectly fit small project needs.

True Value’s national advertising strategy focuses on the role of the store associate in solving customer needs. The "Masters of All Things Hardwarian" campaign positions the associate as the "hero" of the store with the expertise and knowledge to help customers with all of their home project needs.

History

True Value Company traces its roots to three hardware cooperatives and a hardware wholesaler: American Hardware & Supply (ServiStar), Coast to Coast Corporation, Cotter & Company (True Value), and Hibbard Spencer Bartlett & Company, a Midwestern hardware wholesaler.

Cotter & Company was established in 1948 by John Cotter with 12 original member stores. The cooperative grew in membership, and in 1962, Cotter & Company purchased the assets of Hibbard Spencer Bartlett & Company for $2.5 million, acquiring the True Value trademark for $2,500, as part of the acquisition. ServiStar Hardware (formerly American Hardware Supply) had previously purchased Coast to Coast Hardware and had renamed itself to Servistar & Coast to Coast Hardware. Their hardware stores were operating under either ServiStar or Coast to Coast retail identities. In 1997 they merged with Cotter & Company to form TruServ Corporation.

Between 1999 and 2001, TruServ Corporation brought in new management, eliminated the ServiStar and Coast to Coast brand names, and streamlined operations by closing many of the regional distribution centers. In 2006, TruServ Corporation was renamed to its current True Value Company.

Store Format

In 2007, True Value Company unveiled a new retail format designed to provide customers with a one-stop-shop for all the products, expert advice and inspiration they need to complete their small home-improvement projects. Destination True Value incorporates best practices in retail, merchandising and store décor, resulting in a competitive, flexible design that easily adapts to urban or rural stores, fits multiple size stores (5,200 sq. ft. and larger), as well as those with niche businesses.

Destination True Value exhibits the latest in store-layout techniques and lighting, expanded product assortments, dominant product displays and effective, eye-catching signage. Departments are positioned as a store within a store to create visual impact and product intensity that promotes interactivity, inspiration and incremental purchases.

The Destination True Value format enables its retailers to adapt the layout and custom-select merchandise assortments that are best suited for and most relevant to their local market and customer needs. While approximately 50 percent of True Value customers are women, Destination True Value was created to appeal to female customers, yet still feel like a traditional hardware store to the male shopper. Incorporating consumer insights and current successful retail strategies, the format strives to deliver a more compelling shopping experience.

Specialty Business

In addition to the well-known True Value hardware name, True Value Company offers other specialty business opportunities. These specialty businesses may be unique, stand-alone businesses or a component of a True Value store.

Grand Rental Station/Taylor Rental Center

Grand Rental Station and Taylor Rental Centers are full-line general rental stores offering tools, party and event supplies and equipment, and contractor equipment to the homeowner and/or professional contractor. With more than 400 stores and a professionally trained staff, do-it-yourselfers can rent anything from a popcorn machine to earth moving equipment.

Home & Garden Showplace

Home & Garden Showplace is the garden center store identity of True Value Company. It was started by ServiStar to help build their lawn and garden business. Today there are more nearly 300 Home & Garden Showplace centers across the United States. Each store is independently owned and operated. Owners purchase merchandise through the True Value distribution centers and buy from many quality growers of plants through various True Value buying programs.

Induserve Supply

Induserve Supply is a growing national network of independent commercial and industrial distributors. Induserve members serve the commercial, industrial customer with professional products such as hand and power tools, paint and sundries, janitorial supplies, material handling items, office supplies, hardware, fasteners, abrasives, chemicals, plumbing, electrical and more.

Party Central

Party Central represents a fast growing segment of today’s rental industry. Party Central customers include homeowners who rent supplies for weddings, backyard parties and picnics; event-related businesses, including caterers and event contractors; and event facilities such as hotels, churches and restaurants.

True Value Foundation

In 2008, True Value Foundation was established with a mission that is a natural expression of True Value's long-established role as America's local hometown hardware store. By uniting retailers in this mission through local initiatives and programs, the foundation will further that role and bring positive change to more people in True Value communities.

The True Value Foundation mission unites True Value retailers to help people in their communities build stronger lives through charitable programs that:

• Nurture the future of children and youth through education and social support
• Create solutions for community and social issues
• Inspire adults to grow and improve their potential through continuous learning experiences

Programs supported by the foundation include Cotter Boys and Girls Club, True Value Scholarship Program, and Painting a Brighter Future. Primary funding for True Value Foundation is generated through the proceeds of the True Value Charity Classic, the foundation's annual vendor-supported fundraising event.

External links

• True Value Company Website
• True Value Website
• Start Right. Start Here. "Idea House" Microsite
• Grand Rental Station Website
• Taylor Rental Website
• Home & Garden Showplace Website
• Company History on Answers.com
• True Value Company profile and history
• Cotter Canada history (including history of V&S trademark)