Target has established itself as one of the leading retail chains in the U.S., with 1900+ stores and a huge variety of products sold at reasonably low prices.
Seeing how similar in operations, product variety, and prices Target is to Walmart, you may be wondering if Target is owned by Walmart? Here is what I’ve found through my research!
Is Target Owned By Walmart?
Target is not owned by Walmart. Instead, it is owned by the Target Corporation which was previously known as the Dayton-Hudson Corporation until 2000. Under this (now popular) new name, the Corporation runs 1900+ discount and mass retail stores across all 50 U.S. states.
If you want to learn more about Target’s history, what it is known for, and what companies Walmart currently owns around the world, keep on reading!
Who Created Target?
Target was established by the Dayton Company in 1962 with the intention of creating a discount store that would cater to value-oriented shoppers who were seeking a high-quality experience.
When Target was first started, some industry experts had considered moving to mass-market retail as a risky move since the company was already established as a department store retailer.
However, the company went on to successfully grow from a family-run department store chain to one of America’s largest discount-store chains and currently has over 1,900 successful Target stores across the country.
When Was Target Founded?
The Target Corporation was originally founded in 1902 as the Dayton Dry Goods Company. George D.
Dayton wanted to explore the growing Midwest markets and found Minneapolis to have the strongest opportunities for growth, building his first Dayton Dry Goods Store on Nicollet Avenue.
Years later, in 1962, the first Target store opened in Roseville, Minnesota and it continued to expand in 1966 in the Denver metro area.
Through years of expansion across the country, the company renamed itself to Target Corporation to better reflect its core business.
What Is Target Known For?
Target is a general merchandise retailer with stores in all 50 U.S. states as well as the District of Columbia, with 75% of the U.S. population living within 10 miles of a Target store.
Moreover, Target offers an assortment of products ranging from groceries to household items such as bedding and furniture, available to be bought through stores and digital channels.
The retail chain is also known for its addictive shopping experience, with shoppers often joking about going into a store to make one purchase and ending up buying far more.
This is so well known that it has become its own entry on Urban Dictionary titled the “Target Effect”.
What Companies Are Owned By Walmart?
Walmart owns a number of companies across the globe including the Seiyu Group supermarket chain in Japan and Massmart in South Africa.
Additionally, Walmart owned ASDA Stores Ltd until 2021 when it was bought by EC Group.
However, Walmart still retains an equity investment, a seat on the board, and an ongoing commercial relationship.
Other than that, Walmart also owns over 4,700 Walmart stores across the U.S. along with companies such as Jet.com, ModCloth, Moosejaw, and Bonobos.
Target is owned by the Target Corporation and not by Walmart, even though Walmart has purchased a number of Target stores to be renovated and used as Walmart chain stores.
The first Target store was opened as a discount store in 1962, as opposed to the company’s department store chain, Dayton’s.
The discount store chain grew over time and took over the department store chain, leading to the corporation being renamed Target Corporation in the year 2000 to better reflect its business.