…or maybe a couple hundred, I would be interested in making a bid for the Lowe’s IRIS home automation business.
It’s sad to see that Lowe’s is exiting the arena; while I wasn’t interested in a cloud-based system, the fact that a major DIY retailer was getting involved in this space struck me as a hopeful sign of things to come.
I just hope this isn’t an indication of the health of the entire market…
If Only…
This is one of those times when I wish I had the kind of money needed (or the personality required to gather enough Other Peoples’ Money) to pick up the business. Whether you love, hate, or are indifferent to IRIS, this is an incredible opportunity. With the right leader, the brand could be propelled to new heights – provided that leader has the right ideas.
Whether or not my ideas are the right ones, it would be really fun to try!
On The Other Hand…
Of course, it’s unlikely that Lowe’s would be selling off the business if it was truly profitable. I will admit that I’ve seen businesses do stranger things during restructuring efforts, but still… Nobody sane throws out a profitable division while trying to improve the profitability of a business.
I did poke through their “annual report” (does copying your 10-K into a PDF and adding a cover page really qualify?), but nothing about the IRIS division specifically popped out at me; they don’t seem to break it out. I’d love to know the numbers, though.
Of course, even a failing division can be useful if you think you can turn it around…
The bigger question for me is, what (if anything) does this mean for the rest of the home automation industry? Is the demand weakening? The last few years have seemed to me to be the heyday of home automation (Smart Things, Wink, HomeKit, Alexa, Google Home, and more have all popped up relatively recently). I really hope it isn’t over – and even more that it’s just beginning.
I hope that the powers that be at Lowe’s really are insane…
It’s Just A Dream
Much though I would love to grab that business and have my way with it, it’s simply not going to happen. I’m not shark-like enough to go gather investors and get them to sink their money into it and install me at the helm. I don’t have the money personally.
Looks like I’m SOL.
I hope IRIS isn’t, but time will tell…
