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Sebastian Spering Kresge (July 31, 1867 – October 18, 1966) was an American businessman. He created and owned two chains of department stores, the S. S. Kresge Company, one of the 20th century's largest discount retail organizations, and the Kresge-Newark traditional department store chain. The discounter was renamed the Kmart Corporation in ...
- Eastman Business College
- October 18, 1966 (aged 99), East Stroudsburg, Pennsylvania, U.S.
- Sebastian Spering Kresge, July 31, 1867, Allentown, Pennsylvania, U.S.
- Kmart
Mar 20, 2024 · S.S. Kresge was an American merchant who established a chain of nearly 1,000 variety and discount stores throughout the United States. Kresge worked as a traveling salesman before going into business with one of his customers, John G. McCrory, the owner of several department and five-and-ten-cent
- The Editors of Encyclopaedia Britannica
The Kresge Foundation was established by Sebastian Kresge “for the benefit of mankind” on the occasion of the company’s 25th anniversary in 1924. The foundation today continues that mission by awarding grants throughout the country to non-profits and arts organizations.
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The S.S. Kresge Co. grew to be the second-largest variety chain in the U.S. The stores changed as retail trends matured over the years. The company battled anti-chain store sentiment in the 1920s and 30s. While floorplans expanded and merchandise offerings swelled, Kresge focused on keeping the average cost of items low and affordable.
Sebastian Kresge was known for his generosity. To celebrate the 25th anniversary of the S.S. Kresge Company, he started the Kresge Foundation in 1924 to “promote the well-being of mankind.”. A staunch prohibitionist, he also donated sums to the Anti-Saloon League. Kresge was very much involved in his foundation, in an effort to “leave the ...
The S.S. Kresge Company was 25 years old in 1924. Sebastian S. Kresge himself was 57. To commemorate the anniversary of his growing company, on June 11 he established The Kresge Foundation in booming Detroit, where the auto industry, also 25-years old that year, had spawned rampant growth and widespread prosperity.
S. S. Kresge Biography. S. S. Kresge. (Sebastian Spering Kresge) merchant, philanthropist. Born: 7/31/1867. Birthplace: Bald Mount, Pa. With a newly minted business degree in hand, Kresge worked as a traveling tinware salesman (1890–97) before opening the first of his discount retail stores whose merchandise was all priced at less than a dime.
