John Geisse
| John Geisse | |
|---|---|
| Born |
John Francis Geisse 1921 Madison, Wisconsin |
| Died |
1992 (age 71) Indianapolis, Indiana |
| Education | United States Naval Academy |
| Occupation | Businessman |
| Spouse(s) | Mary Wakeen |
John Francis Geisse (1920-February 21, 1992) was an American businessman, the founder of Target Discount Stores, Venture Stores and The Wholesale Club (merged in 1991 with Sam’s Club.)
Geisse was born in 1920 in Madison, Wisconsin, grew up in Washington DC area and was the founder of Target Stores and a major retail pioneer.[1] After Pearl Harbor attack and an early graduation from the United States Naval Academy Geisse served in the United States Navy during World War II as Lieutenant Commander. He moved to Minneapolis after the war ended.
He was inducted into Discount Store News Discount Hall of Fame in 1984[1] for being the author of the Better Quality Upscale Discount Store Concept in America.
During his retailing career, Geisse launched three successful retail chains. In 1962, he founded and launched the chain Target Stores for the Dayton Company, now known as Target Corporation. In 1968, he left Target Stores and was subsequently hired by May Department Stores, where he founded the Venture chain. In 1975, he "retired" from May Co. and Venture. He then became chairman of Ayr-Way Stores, Indianapolis. After he turned around Ayr-Way Stores, he was a long time consultant to his friend Sam Walton and Wal-Mart Stores, Inc. and others including Ames Department Stores. In 1982, he founded his third chain, a midwestern warehouse club The Wholesale Club, Inc. of Indianapolis, that inspired Wal-Mart Stores, Inc. to create its SAM'S CLUB division in 1983. In 1991, he sold The Wholesale Club chain to Wal-Mart Stores, Inc., and The Wholesale Club merged with Sam's Club.
Geisse died in Indianapolis in 1992.[1]