Carl Buchan
The first Lowe's store was opened by Lucius S. Lowe in 1921 in North Wilkesboro, North Carolina. After the death of Lucius in 1940, his daughter Ruth Lowe took over and in the same year sold it to her brother Jim Lowe. The company was then run by Carl Buchan, who was Ruth's husband and her brother Jim.
Under the able leadership of Buchan, the store improved its position in the market. It started selling hardware as well as building materials. Earlier, the store used to sell dry goods, snuff, groceries, notions, and horse tack. In 1949, a second store was bought by the company in Sparta in North Carolina.
Buchan and Jim differed on their expansion plans and they separated in 1952. Buchan took over the hardware and also the building supply wing whereas Lowe took over joint ventures that included the car dealership. It was Carl Buchan who ultimately became the owner of Lowe's.
In the 1955, Buchan made some quick expansion of its stores and opened outlets in Asheville, Durham, and Charlotte. In the 1950s many stores were opened across the United States. But in 1960, Carl Buchan had a heart attack and passed away at the age of 44. The company was taken over by his five executives in 1961 and they took the company public.
By 1962, there were a total of 21 stores that were operated by Lowe’s.
Lowe's went on its expansion spree in the southeast United States. The company has since been growing throughout the United States, much so after the purchase of Eagle Hardware & Garden.