|
Geisse c. 1980s-90s Geisse c. 1980s-90s | |
| Born |
John Francis Geisse September 1, 1920 Madison, Wisconsin, US |
| Died |
February 21, 1992 (aged 71) Indianapolis, Indiana, U.S. |
| Place of burial | Crown Hill Cemetery, Indianapolis, Indiana |
| Education |
St. John's College HS United States Naval Academy |
| Occupation | Businessman |
John Francis Geisse (September 1, 1920 – February 21, 1992) was an American businessman. He founded three successful retail chains: Target Discount Stores, Venture Stores, and The Wholesale Club (which merged in 1991 with Sam's Club).[1]
Early life and education[]
Geisse was born on September 1, 1920,[2] in Madison, Wisconsin, the son of aeronautical inventor John Harlin and Esther (née Wattawa) Geisse.[3] He grew up in the Washington, DC, area[3] and attended St. John's College High School.[4] He was set to graduate from the United States Naval Academy with the class of 1942,[1][5][6] until the attack on Pearl Harbor prompted an early graduation in December 1941.[3] During World War II, he served in the U.S. Navy in both the Pacific and Atlantic theaters. He left the service in 1947 as a lieutenant commander.[3][7]
Retail industry career[]
After leaving the military, he moved to Minneapolis, where he began his retail career working for Dayton's.[1][3][7] In 1962, he and Douglas Dayton founded and launched the Target Stores for the Dayton Company,[8] now known as Target Corporation. In 1968, he left Target Stores and was subsequently hired by May Department Stores, where he founded the Venture chain.[3] In 1975, he "retired" from Mays and Venture, and became chairman of the struggling Ayr-Way Stores in Indianapolis. After he turned Ayr-Way Stores around, he became a long-time consultant to his friend Sam Walton and Wal-Mart Stores and to Ames Department Stores and others. In 1982, he founded his third chain, a warehouse club named The Wholesale Club,[3] that inspired Wal-Mart Stores, Inc. to create its Sam's Club division in 1983.[1] In 1991, he sold The Wholesale Club store chain to Wal-Mart Stores and it was merged with Sam's Club.[9]
Honors[]
He authored the Better Quality Upscale Discount Store Concept in America, and was inducted into the Discount Store News Discount Hall of Fame in 1984.[1] Sam Walton, who often consulted Geisse, called him "a pioneer in innovative retailing concepts".[7]
Personal life[]
Geisse was married to the former Mary Ann Wakeen. Together, they had 10 children.[1][7] Geisse died of a heart attack in Indianapolis in 1992.[3][7] He was buried near his parents in Crown Hill Cemetery, Indianapolis.[10]
References[]
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "John Francis Geisse (1920–1992)". Geisse Family. http://www.geisse.org/JohnFrancisGeisse.html.
- ↑ Curtis, Georgina Pell; Elder, Benedict (1961). "Geisse, John Harlin". p. 167. https://books.google.com/books?id=67MNAQAAIAAJ.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 "John Geisse, 71, Dies; Helped Start Target, Wholesale Stores". February 23, 1992. p. 26. https://www.newspapers.com/clip/30104501/john_geisse_19201992/.
- ↑ "Call to Remember". https://www.stjohnschs.org/page/alumni/call-to-remember.
- ↑ "John H. Geisse, 96, Aeronautical Inventor". The New York Times. December 8, 1988. https://www.nytimes.com/1988/12/08/obituaries/john-h-geisse-96-aeronautical-inventor.html.
- ↑ The Lucky Bag. Annapolis, Maryland: United States Naval Academy. 1942. p. 95. https://archive.org/details/luckybag1942unse. Retrieved February 10, 2017.
- ↑ 7.0 7.1 7.2 7.3 7.4 "J. F. Geisse, 71, Who Founded Discount Stores". The New York Times. February 27, 1992. https://www.nytimes.com/1992/02/27/us/j-f-geisse-71-who-founded-discount-stores.html.
- ↑ Yardley, William (July 10, 2013). "Douglas J. Dayton, First President of Target, Dies at 88". The New York Times. https://www.nytimes.com/2013/07/10/business/douglas-j-dayton-first-president-of-target-dies-at-88.html.
- ↑ Taylor, Marianne (November 7, 1990). "Wal-mart Acquiring Club Rival". Chicago Tribune. http://articles.chicagotribune.com/1990-11-07/business/9004030003_1_wal-mart-stores-newest-store-division-of-dayton-hudson-corp.
- ↑ John Geisse at Find a Grave
The original article can be found at John Geisse and the edit history here.