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Ace History
Ace grows through the decades: General Overview Eighty years growing strong: 2000 and beyond Ace Hardware's success and growth in the 1990s gave the company the momentum for continued growth in the new millennium. Positive changes were immediately implemented that would streamline the company's business and maximize profit. One of the first of these strategies was Vision 21, a plan designed to boost Ace retailers' sales and profits, build the Ace brand and provide better service to customers. Vision 21 hinges on five key drivers designed to position Ace to be a world-class retail organization and help retailers to grow within their markets. These drivers are entrepreneurial spirit, Category Management (Discovery and retail pricing), customer relationship management (Helpful Hardware Club), people power (Training) and technology (EagleVision). 
At the forefront of Ace's technological evolution is EagleVision. Unveiled in 2001, the common technology platform is a key element of achieving Vision 21's goals by uniting retailers under one centralized system. EagleVision focuses on four key areas: simplification of store operations; expanded sharing of data; enhanced system knowledge; and greater speed to market. While technology is important for streamlining operations, Ace also focused its efforts on building the "helpful" brand. Ace's advertising focuses on promoting Ace stores as being "The Helpful Place," while the company's one-to-one marketing initiatives through the Helpful Hardware Club build customer loyalty. On the public relations front, Ace signed national home improvement expert Lou Manfredini to serve as Ace's "Helpful Hardware Man" and media spokesperson in 2002. Whether attending events at Ace stores nationwide, providing advice to consumers via the "Ask Lou" section of acehardware.com, or sharing his knowledge with media outlets from the "Today Show" to CNNfn, Manfredini is helping to enhance and build Ace's helpful brand. Momentum is on Ace's side, with 2003 proving to be an extraordinary year for Ace Hardware. For the first time in the company's 80-year history, Ace surpassed $3.159 billion in hardline sales and $100.7 million in net profits. In the fall of 2003, Ace announced an expanded Growth Strategy designed to build retailers' business and deliver a consistent, "helpful" experience with every customer visit. To better meet Ace retailers' needs going forward – as well as the expectations of consumers – retailers can now choose from two homes within Ace: Vision 21 or Individually Branded Retailer. Each home is designed to fuel retailers' continued success, further drive their entrepreneurial spirit and increase their viability in an increasingly competitive home improvement marketplace. Here's to another exceptional 80 years at Ace Hardware! |