Cost Plus World Market History
The first Cost Plus opened in 1958, when a San Francisco businessman parlayed his passion for travel into an import business by selling a shipload of hand-woven wicker from a local pier. The furniture sold out within a few days, but the idea lived on. Now Cost Plus World Market’s store at Fisherman’s Wharf in San Francisco is a favorite destination for tourists and locals alike. (Cost Plus World Market) With such a receptive audience eagerly awaiting his return, it only made sense to open a store. And in 1958 he opened the first store in San Francisco’s famed Fisherman’s Wharf and called it Cost Plus World Market. The store quickly became a destination for those who craved original and handmade items from around the world. Items were sold at cost, plus ten percent – hence the name Cost Plus World Market! (Cost Plus World Market) Since its opening more than four decades ago, the Company’s product categories have expanded to include: furniture, pillows, lamps, floor and window coverings, frames, baskets, garden, collectibles, tabletop and kitchen accessories, along with gourmet foods and wines. From a dining room table and chairs to the perfect Chardonnay to complement a meal, Cost Plus World Market is a complete value retailing resource which provides simple yet unique solutions for every entertaining and decorating need. (Cost Plus World Market) In 1996, the Company completed an initial public offering and trades on the NASDAQ national market under the symbol Cost Plus World Market. (Cost Plus World Market) As of January 30, 2010, the company operated in 268 stores under the name “World Market”, “Cost Plus World Market”, “Cost Plus Imports”, and “World Market Stores”. (Cost Plus World Market) Cost Plus World Market buyers travel the world visiting remote villages, centuries-old factories and foreign bazaars searching for unique products to offer our customers. They get baskets from Bali, chocolates from Belgium, pottery from Portugal, and wine from around the world. These are just a few of the uncommon treasures that customers will discover on their adventure through our stores. (Cost Plus World Market) Cost Plus World Market is a spirited, eclectic and wildly different retailer that turns shopping into an adventure by continually filling aisle after aisle with great finds at great prices from around the world. (Cost Plus World Market) Although I was not able to find Cost Plus World Market’s mission statement, I found what they call the Company Atmosphere. They want customers to expect an adventurous atmosphere when they enter into any of the store locations. They try to recreate a bazaar type atmosphere for those who want to look for items from different areas from around the globe. Cost Plus World Market changes their items they carry in the stores frequently, so products are always new and fresh. The stores offer a wide variety of goods that are imported from fifty countries around the globe. (Cost Plus World Market) Cost Plus World Market carries a variety of environmentally friendly items such as the plantation raised wood that many furniture products are made from as well as recycled glass goblets to name a few. Cost Plus World Market stores are located near major malls in thirty different cities. The target market is women from ages 25 to 55 years. World Market is a private label which most of the items have, with a few other labels. (www.hoovers.com) Cost Plus World Market Organizational Strengths
Cost Plus World Market is considered 50 Countries Under One Roof. This is strength for the company for the people who do not ever get to leave and see other countries. They bring unique items from all over the globe that you cannot find in an ordinary retail or department store. Cost Plus World Market offers seasonal items that are unique and they sell them at reasonable prices. Many of the products that are sold at World Market are hand crafted by the local artisans in the different...
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