Kohl 's Corporation : History Essay
During 1962 in Brookfield, Wisconsin, Max Kohl opened his first department store, Kohl’s. With its opening emerged a new experience for shoppers. Shoppers were now able to find everything from shoes, car accessories, candy to sporting equipment in one place. Prior to its opening, Max Kohl had established the largest supermarket chain in the Milwaukee area. Towards the late-70’s, BATUS, Inc. took complete control by buying 80 percent in the Kohl’s supermarket and department stores. During the mid-80’s, BATUS sold the Kohl’s supermarkets to Great Atlantic and Pacific Tea Company and they later closed all the supermarkets by 2003. During the late-80’s, BATUS was unable to endure the increased pressures of a growing and competitive market and sold all of its retail holdings before 1990. During its controlling the Kohl’s department stores, BATUS expanded the number of departments stores from 10 to 39 in 3 states (Our History, n.d.).
The late-80’s to early 90’s brought new management and leadership to the Kohl’s department stores. A management group of investors purchased the Kohl’s department stores from BATUS and to form the Kohl’s Corporation. From this investment, they acquired 40 stores, over 5,000 associates and $300m in annual sales. In 1992, Kohl’s Corporation with 11.1m shares completed its initial public offering (IPO). Over the years after completing its IPO, Kohl’s Corporation’s has experienced stock splits of 2 to 1,…