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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.
S.S. Kresge (born July 31, 1867, Bald Mount, Pa., U.S.—died Oct. 18, 1966, East Stroudsburg, Pa.) was an American merchant who established a chain of nearly 1,000 variety and discount stores throughout the United States.
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S.S. Kresge Company. Before discount stores, there were variety “dime stores,” called so because products sold for either a dime or a nickel. Kresge, founded in 1899, was a Detroit-born dime store where shoppers could find daily needs such as housewares, linens, clothing, school supplies, and toys.
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.
He died on October 18, 1966. Biography: Sebastian Spering (S.S.) Kresge was born on July 31, 1867, to Sebastian and Catherine Kunkle Kresge in Bald Mountain, Pennsylvania. The son of Swiss farmers who immigrated to America, Kresge learned to be frugal with his money early in life. It was this frugality that would later lead to his success in ...
Jul 3, 1985 · Starting with a single store in Detroit in 1899, Sebastian Kresge built a chain of hundreds of 5-and-10-cent stores that today, as the K Mart Corporation, is the world's second largest retailer ...
Expanding Equity andOpportunity in America’s Cities. 3215 W. Big Beaver Road Troy, MI 48084 +1 248-643-9630. Contact Us. Founded by retailer Sebastian S. Kresge in 1924, The Kresge Foundation continues to fulfill his mandate: To promote human progress.
