Who Owns Target? Which Country is the Owner of Target? 2022

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Target
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Target is an American multi-departmental store. Its headquarter is situated in Minneapolis, Minnesota. In 1962, it was created as Dayton’s Department, which progressed to the current Target. Being the seventh largest retail store in the US market, it has become the target of shoppers. Going through different stages and ups and downs, the company is now working efficiently under the leadership of board chairman and CEO Brian Cornell, who is heading a dynamic team at Target.

Brief History of Target:

George Dayton – the founder of the store 

Target has a long successful journey. It was founded by George Dayton who served the store for many years. Here is a brief discretion about the ownership of the store.

Dayton’s Dry food Department;

Target was once Dayton’s Dry food department.

George Draper Dayton was working with farm mortgages and at the same time, he was presiding over a bank. As he was living in New York, he moved to Minneapolis to start his store named Dayton’s Dry Food Department. Customers were attracted to the stores and he earned great success.

Dayton’s Department:

In 1911 for the sake of simplicity the company changed its name to Dayton’s Department from Dayton’s Dry Food Department. This was also because the company has started to sell products other than dry food. It was simply known as Dayton’s Department Store at that time.

The commercialization of the store:

In 1920 railroad industry suffered a stroke which affected this store badly. Its shelves were empty. Customers were unhappy about being unable to shop in this department. Dayton risked and hired two planes to supply inventory in his store. Carrying 400 pounds of goods, the plane landed. This commercialization earned great fame for Dayton’s store. 

George N Dayton – 2nd owner of the store 

After his death at the age of 80, his son George N Dayton succeeded him by giving 5% of the store’s pretext to the community. He worked for the welfare of the community and followed father’s footsteps.

He led the store until 1950.

Donald C Dayton – 3rd owner of the store:

Donald C Dayton took charge of the store. Although he was apparently the head of the store, all the grandchildren of George Dayton found themselves in the partnership of the store. Wallace, George II, Kenneth, Donald, Bruce, and Douglas were among them.

Extension of the Store:

In 1953 another department was introduced having home furniture and other accessories. In 1954 they again extended the store to Rochester. This was done to serve those people who don’t want to travel large distances. 

After all, it comes in competition with other stores. It was then extended to Minneapolis and St. Paul areas.

Douglas Dayton – another owner of the store:

In 1969 when its head was Douglas Dayton, everything was done to serve the customers. In the same year, the first flower department was also introduced.

Becoming a mass retailer:

In 1961, it was thought to become a mass retailer although it was avoided at that time. They opened a store having 75 departments. The store covered all the necessities from fashion, clothing, and other services, having fast-serving checkouts and parking areas. 

Stewart K. Widdess – the Director of Publicity and the introduction of the Target logo

In 1962 Target logo was introduced. Stewart K. Widdess was honored to do so as the Director of Publicity. 

Beginning of First Target Store:

On May 1, 19622, the first Target came into being in Minnesota. It then decided to open more branches in different areas. The store became well-known for discounted prices. It sold goods of great quality.

Autonomous Divisions of the store:

After the successful completion of the stores, it split into autonomous divisions which are following

  • Dayton’s Department Store
  • Target Stores
  • B. Dalton Bookseller
  • Dayton Jeweler
  • Dayton Development Company 

Update of the logo:

The Target company logo was updated, which looked familiar to the current one. Then the distributive need arises. It was finalized to initiate its distribution services.

Dayton – Hudson Corporation:

In 1969 it turned to Dayton-Hudson Corporation for becoming a partner with Hudson company. This partnership helped the company to become among the top retailers in the country. It initiated programs to serve the community like Holiday helpers. It also celebrated Earth Day. 

Development of the Target stores:

In 1975, the Target part of the company started to earn more revenue than the other parts of the company.

Change of Leadership- Retirement of the Dayton Family:

In 1983, its main leadership was changed to ensure the delivery of services at a better rate. This retirement of the Dayton family ended up the direct involvement in the company.

Later it expanded the store to 30 other parts of the state.

A corporation with Marshall Field:

In 1990, it incorporated Marshall Fields. The same year was to open Target Greatland. It was the most expanded form of the store and has many new facilities and services including an ATM. Target brand was introduced in the same year.

Journey to Target Corporation:

After that, it changed from Dayton – Hudson corporation to Target Corporation. It shifted its stores to many locations. It also focused on the demand of the people. It also started to sell food in the year 2010.

Current Leadership – Brian Cornell 

In the year 2014, the dynamic team is working under the leadership of Brian Cornell, the current CEO of the corporation. He has worked with multiple stores including the CEO of PepsiCo American Food, Sam’s club, Micheal’s, and Safeway. He has been working on the online platforms of the company.

Target in the Year 2022:

Target is a Multi Departmental store serving millions of customers each month. It has almost 2000 stores across the country. It has been serving the community by selling them Food, electronics, beauty products, clothing, Jewelry, games, furniture, shoes, pet foods and accessories, and much more. It has been earning up to billions. In FY 2021, it generated $107 billion having a net income of $4.368 billion in the same year. It has been running Target hyper stores across the country. 

It has been working effectively on its eCommerce website Target.com. You can also buy its brand from the website.

Bottom line:

Target is owned by Brian Cornell, the current CEO of the company. He had been working with other top retailer brands. Target has a long successful journey owned by Dayton’s family. It has been ranked among the top retailers in the United States attracting the spotlight of millions of consumers.

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