In the words of Richard D. Maltsbarger, Lowe's chief development officer and president of international, the second biggest retail operator in the world has decided "to focus our resources on areas of our business where we see greater potential return on our investment". Lowe's net investment in the joint venture to date is approximately USD 930 mio.
The joint venture agreement was signed in 2009, and the first Masters stores were opened in the second half of 2011 and now exceed 60 stores. Revenues for the joint venture, including both the Masters stores and the Home Timber and Hardware Group, were AUD 1.9 bn (USD 1.6 bn) in its latest fiscal year ended June 28, 2015.