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In 1921, Lucius Smith Lowe established the first Lowe's store in North Wilkesboro, North Carolina—a small general store selling an array of products from hardware to groceries.
This tiny store would grow into one of the largest home improvement retailers in the world.
Though L.S. Lowe sadly passed away in 1940, the company continues to this day to build upon the core tenets of customer service and community values that he instilled during that first decade in North Wilkesboro.
His influence persists through the Lowe's name and through the many customers served over 100 years since L.S. opened that first general store.
After the passing of his father L.S. Lowe in 1940, Jim Lowe became the owner of his father’s store.
The younger Lowe initially maintained the general store model that his dad created.
However, seeing the forthcoming expansion of the post-War construction industry, Jim brought his brother-in-law Carl Buchan into the company in 1943.
Together, they would soon shift the store's focus exclusively towards hardware and building materials.
The home improvement transition would be complete following World War II.
Carl Buchan was brought on to Lowe's as a co-owner with Jim Lowe in 1943.
Buchan anticipated massive construction demand following World War II and convinced Jim to shift their focus solely to hardware and building materials.
This move proved wise, as Lowe's expanded across North Carolina over the next decade.
By 1952, Buchan bought out Jim Lowe to become sole owner, then in 1958 incorporated the company formally as Lowe'sNorth Wilkesboro Hardware.
With full control, Carl Buchan modernized operations to increase efficiencies, pioneered direct supply relationships with manufacturers, and grew the employee base tenfold by the late 1950s.
Though Buchan sadly passed away in 1960 at just age 44, his relentless drive to expand Lowe's from a single family store into a regional hardware chain set the wheels in motion for the national home improvement giant Lowe's is today.
More than any other early leader, Carl Buchan established the foundation that allowed Lowe's to blossom into the retail force it remains in present times.
Following the unexpected death of Carl Buchan in 1960, Lowe's was in crisis for leadership. Stepping in to fill the void, a five-man executive team including Robert Strickland and Leonard Herring took the reins to guide Lowe's into its next era of growth.
They quickly moved to take Lowe's public in 1961 under the corporate name Lowe's Companies Inc., issuing the first public stock offering to fuel further expansion.
Though Strickland and Herring's tenure in charge only lasted a year before a new CEO took over, their decisive actions to incorporate and go public after Buchan's passing secured crucial capital investment to steer Lowe's from a regional chain to a national player.
Their leadership and business acumen in this critical moment provided durability to the company just as it was elevating into a major force within the growing home improvement retail space.
From 2007 to 2018, Robert Niblock served as CEO of Lowe's during a period of growth.
Lowe's was now second only to rival Home Depot nationally.
Niblock pushed expansion into Canada in 2007 by acquiring several smaller chains.
By 2011, Lowe's was generating over $50 billion in annual revenues, it was part of the Fortune 500 ranking, and operated over 1,750 locations across North America.
Niblock also focused on enhancing supply chain infrastructure to improve Lowes Omnichannel retail capabilities.
By the time he retired, Lowe's was reaching the $100 billion in revenue plateau.
In 2018, Marvin Ellison became the first African American CEO of Lowe's, just in time for the company’s 100th anniversary.
Ellison held many senior executive roles at Home Depot and JCPenney.
He focused efforts on diversity, equity and inclusion in the Lowe’s corporate structure. As the company passes the $100 billion revenue mark in 2022, Ellison leads Lowe's into its second century aiming to further close the gap in market share with longtime rival Home Depot.
With Lowe's legacy rooted in the community-focused values of L.S. Lowe's original North Wilkesboro general store, Ellison balances advancing the company's digital transformation with strengthening its place and purpose in towns across North America.
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