Essay: Price Club

Sample Essay

The company was established in 1976 with the name of Price Club in San Diego where an airplane hangar was converted into company premises. The company was initially formed to cater to small businesses but the management soon realized that the non business people made up a large customer base and the company also started selling products to people without businesses as well.

As the business grew with time the company started expanding and opened its first warehouse location in Seattle. The company witnessed phenomenal growth in its initial years and achieved total revenue of $3billion within 6 years of establishment. In 1993, Costco and Price Club merged to form a new company PriceCostco which now had 206 stores with overall annual sales of $16 billion (Costco Wholesale).

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