Photos • Biography • Facebook • Twitter

From Wikipedia, the free encyclopedia

John Geisse
Geisse c. 1980s-90s
Born
John Francis Geisse

(1920-09-01)September 1, 1920
Madison, Wisconsin, US
DiedFebruary 21, 1992(1992-02-21) (aged 71)
Indianapolis, Indiana, U.S.
Resting place Crown Hill Cemetery, Indianapolis, Indiana
Education St. John's College HS
United States Naval Academy
OccupationBusinessman

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, D.C., 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.

References

  1. ^ a b c d e f "John Francis Geisse (1920–1992)". Geisse.org. Geisse Family. Retrieved February 10, 2017.
  2. ^ Curtis, Georgina Pell; Elder, Benedict (1961). "Geisse, John Harlin". The American Catholic Who's Who. 14: 167. Retrieved February 10, 2017.
  3. ^ a b c d e f g h "John Geisse, 71, Dies; Helped Start Target, Wholesale Stores". Star Tribune. February 23, 1992. p. 26. Retrieved March 31, 2019 – via Newspapers.com. Open access icon
  4. ^ "Call to Remember". Retrieved September 14, 2018.
  5. ^ "John H. Geisse, 96, Aeronautical Inventor". The New York Times. December 8, 1988. Retrieved February 10, 2017.
  6. ^ The Lucky Bag. Annapolis, Maryland: United States Naval Academy. 1942. p.  95. Retrieved February 10, 2017.
  7. ^ a b c d e "J. F. Geisse, 71, Who Founded Discount Stores". The New York Times. February 27, 1992. Retrieved February 10, 2017.
  8. ^ Yardley, William (July 10, 2013). "Douglas J. Dayton, First President of Target, Dies at 88". The New York Times. Retrieved February 10, 2017.
  9. ^ Taylor, Marianne (November 7, 1990). "Wal-mart Acquiring Club Rival". Chicago Tribune. Retrieved February 10, 2017.
Retrieved from " https://en.wikipedia.org/?title=John_Geisse&oldid=1153991266"