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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.
The Kresge Foundation - A Century of Impact. Founded in 1924 to promote human progress. Expanding equity and opportunity in American cities today. Dive into the history and stories of The Kresge Foundation as it celebrates a century of grantmaking. The foundation was established in Detroit by Sebastian Spering Kresge, whose retail empire, the S ...
S. S. Kresge Company1907–1925. Industry: Retail. Era: 1900. Kresge built the precursor to K-Mart, one of the first mass discounters. He started with ten-cent stores and developed full-fledged variety stores. By his retirement, his chain had almost 600 United States stores, a Canadian subsidiary, and annual sales of $156 million.
S. S. Kresge. Born: July 31, 1867. Bald Mount, Pennsylvania. Died: October 18, 1966. East Stroudsburg, Pennsylvania. Entrepreneur and philanthropist. S. S. Kresge worked hard, spent his money only when necessary, and saved it wisely. This penny-pinching attitude, which began early in life, led him to become an extremely successful businessman ...
Sep 27, 2015 · 1912 – The S.S. Kresge Company goes public. There were now 85 stores with $10.3 million in sales. 1915 – S.S. builds the Kresge Building in Detroit and a home on Boston Boulevard for his first ...
In June 1924, at the age of 57 and on the occasion of his company’s 25th anniversary, he established The Kresge Foundation “for the benefit of mankind” with an initial $1.3 million gift. Although located in the same building until 1965, The Kresge Foundation was and remains a separate entity from S.S. Kresge Co. and its successor, Kmart Corp.
The official S.S.Kresge Company, bringing Kmart and Sears back in business
