In a previous blog*, I wrote about how I didn’t think it fit with Disney’s mission for them to offer a line of paint at Walmart. Another player has entered the residential paint market, but this time I think it makes perfect sense.
Lowe’s now offers a full palette of paint by Pantone. Those in the graphic design world know that Pantone is a leader in the color matching system. “Millions of design professionals worldwide use Pantone’s language of color every day,” reads their brochure. “Now Pantone Universe brings 100 of its very best colors right to your home.”
Pantone bills itself as the “world’s color experts”, so it makes perfect sense that they branch into paint colors. They utilize existing Valspar brand paint, but Pantone provides tips on color combinations and knows the latest in color trends. (In fact, they are the ones who designate the Color of the Year — more on that tomorrow.) This is who you want selecting the options for paint in your home.
Pantone even preserved their branding with their paint display by presenting their color choices in little square samples with their signature formatting, just as they do for professional design purposes.
Take some lessons from this product extension. Pantone expanded its expertise into a new market, but still only delivers color naming and matching systems, not a new product. The look, feel and purpose of what they do is still very similar, but the slight variation creates many new opportunities for them. Color this outlook rosy!
*Blog #534, November 19, 2013