One of the most popular retail companies in the United States, Target offers more than 1900 locations and a wide choice of items at reasonable rates. You may ask whether Target is owned by Walmart because of how similar their operations, product selection, and prices are.
Here are the results of my investigation!
Does Walmart own Target?
Walmart will no longer own Target in 2022. Because it was previously known as Dayton-Hudson Corporation from 2000 to 2000, it is currently owned by the Target Corporation. Over 1,900 cheap and mass retail businesses are operated by the Corporation under this (now popular) new brand.
For more information about Target’s history, what it’s known for, and what Walmart presently owns across the world, stay on reading!!
Who Established Target?
Founded in 1962 by Dayton Company, Target is a discount retailer that caters to value-conscious customers who are looking for a high-quality shopping experience. Some retail experts feared that Target’s entry into mass-market retail would be a hazardous one because the firm had already established itself as a department store.
However, the firm went on to effectively develop from a family-owned department store chain to one of America’s largest discount-store chains, and now has over 1,900 thriving Target shops across the United States.
When Was Target Founded?
The Dayton Dry Goods Company was the initial name of the Target Corporation when it was established in 1902. The first Dayton Dry Goods Store was built on Nicollet Avenue in Minneapolis by George D. Dayton, who sought to take advantage of the burgeoning Midwest market.
More than a decade after its initial launch, the Minneapolis-based retailer launched its first Target shop in 1962 before further expanding to the Denver metro region in 1966. In order to better represent its main business, the corporation rebranded itself Target Corporation after years of expansion across the country.
What Is Target Known For?
Target is a general goods retailer having locations in all 50 U.S. states as well as the District of Columbia, with 75 percent of the U.S. population residing within 10 miles of a Target store.
Moreover, Target provides a selection of products ranging from groceries to home items such as bedding and furnishings, available to be acquired through stores and web platforms.
Additionally, the chain’s addicting shopping experience has earned it a reputation as a place where people go to buy one thing and wind up buying a whole lot more. This is so well known that it has spawned its own article on Urban Dictionary termed the “Target Effect”.
What Businesses Does Walmart Own?
In Japan, Walmart owns the Seiyu Group grocery chain, while in South Africa, Walmart owns Massmart. The EC Group will purchase ASDA Stores Ltd from Walmart in 2021 after it has been controlled by the latter until then.
In spite of this, Walmart still has a stake in the company, has a seat on the board, and has an ongoing commercial connection with the company.
In addition, Walmart controls more than 4,700 Walmart shops in the United States, as well as brands including Jet.com, ModCloth, Moosejaw, and Bonobos.
In spite of the fact that Walmart has bought certain Target locations to be remodeled and converted into Walmart stores, the company that owns Target is still the Target Corporation.
In contrast to Dayton’s, the company’s department store network, the first Target launched as a budget store in 1962. The cheap shop network developed over time and eventually overtook the department store chain, resulting in the company’s renaming in 2000 to better represent its operations.