Like Sears, MS exploited an unique market position to enter many other markets.
This comparison is very accurate. If you spend much time on eBay or Craigslist, you're sure to see vintage products branded as Sears or Montgomery Wards. Crazy stuff that sometimes makes you scratch your head wondering why they ever thought it would be a lucrative product segment that they'd make any kind of money offering an in-house brand.
I once found an old snowmobile suit in a thrift store with a Montgomery Wards label. At the time, I wondered how many snowmobile suits were ever sold that Montgomery Wards felt they needed to get into the market. I guess they were playing hardball with the manufacturers at the time and cut a deal with one vendor to make MW-labelled suits and that positioned them to tell dictate pricing to the other venders lest they not be carried alongside the MW snomobile suits.