Target's history dates back to the early 1900s, when its founder George D. Dayton established the company, originally called Dayton Dry Goods Company, in 1902 as a large department store in Minneapolis, Minnesota, according to Target. Originally, Dayton operated Dayton Dry Goods Company in a business partnership, but assumed sole ownership shortly after. Dayton created a store offering consumer goods at affordable prices; his business philosophy of providing affordable products and benefiting surrounding communities remains in place today.Continue Reading
Although initially established in Minneapolis, Dayton Dry Goods proved popular among local shoppers, and generated enough revenue to open shops elsewhere. 1911 saw the company's second name change to Dayton's department store, along with an expansion in products and services. The company joined a national retailers association in 1916, and furthered its humanitarian assistance efforts with establishment of the Dayton Foundation in 1918. In 1920, the company made its products accessible to consumers around the nation, becoming the first to use air shipping for delivery.
Following several decades of innovative leadership and continued commitment to community improvements, management assigned the company a new mission and a new name in the early 1960s. 1960 brought a change in product offerings, as Dayton transitioned from a traditional department store to a company supplying a diverse range of consumer products at competitive prices. In 1962, Dayton changed its name to Target and adopted its iconic logo. The company enjoyed continued growth and diversification in product offerings, including clothing, chocolates and groceries, along with enhanced shopping experiences for consumers.Learn more about Corporations