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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 S.S. Kresge Company made notable contributions to Detroit architecture, specifically the Kresge Building (now the Kales Building) on Grand Circus Park, an Albert Kahn design that served as company headquarters from 1914-1930. The second headquarters, on Second Avenue at Cass Park, was world headquarters from 1930-1972 and was also a Kahn ...
S. S. Kresge, the founder of the company that would become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all 19 of Woolworth's stores at the time. In 1897, Kresge invested $6,700 saved from his job into a five-and-dime store in Memphis, Tennessee. He jointly owned the first store ...
Mar 19, 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
Retail chain founder Sebastian Spering Kresge was born in Bald Mount, Pennsylvania on July 31, 1867. His parents, Sebastian Sr. and Catherine Kunkle Kresge were Pennsylvania Dutch farmers. Kresge’s schooling included a four-month commercial course at Eastman’s Business College in Poughkeepsie, N.Y., paid for by money he earned bee keeping.
Merchant — Humanitarian — Philanthropist. With a simple but profound directive, “To promote the well-being of mankind,” The Kresge Foundation was established in 1924 by Detroit retail magnate Sebastian Spering Kresge (1867-1966) as he built one of America’s largest retail enterprises, the S.S. Kresge Company, and used his wealth to contribute to the general benefit and welfare of ...
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.
