Courtesy of Costco Wholesale
- Costco has existed in some form since 1976.
- That’s because the modern-day company is the product of a 1993 merger between Costco and Price Club.
- The first warehouse bearing the name Costco, however, opened in Seattle in 1983.
- Costco provided Business Insider with historical photos of the chain’s inaugural warehouse.
Costco is a staple of the big box landscape. It’s been around for a while and managed to attract a devoted flock of members thanks to its low prices and bulk sizes.
But the wholesale retailer’s origin story is a bit complicated. You see, modern-day Costco is actually the result of a 1993 merger between Price Club and Costco. Price Club kicked off in 1976, and Costco followed suit seven years later.
Read more: 50 foods that Costco employees and members love
Costco provided Business Insider with a number of photos of the company’s first warehouse.
These images provide a glimpse into what making a Costco run would’ve looked like back when Ronald Reagan was in the White House and "Maniac" was topping the Billboard charts.
Jim Sinegal and Jeff Brotman first dreamed up the idea for Costco Wholesale in 1982. The late Brotman was an attorney, who was inspired to open a European-style wholesaler after taking a trip to France.
Courtesy of Costco Wholesale
Source: "Service Management: The New Paradigm in Retailing"
Brotman told CNN in 2009 that he ended up cold-calling Sinegal, and the two hit it off.
Courtesy of Costco Wholesale
Source: CNN
Sinegal was a retail executive who’d previously worked under businessman Sol Price at a warehouse club called Fedmart.
Atsushi Tsukada/AP Images
Source: "Service Management: The New Paradigm in Retailing"
See the rest of the story at Business Insider
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Source: Business Insider – feedback@businessinsider.com (Áine Cain)