Jim Dougherty and his wife Janice founded the company that became PetSmart. In 1987 the Doughertys opened the first store of The Pet Food Warehouse in Phoenix, Arizona, which sold large bags of pet food at discount prices in a big, sparsely decorated, cement-floored store. The warehouse retail approach was not new, but it was the first time it had been carried over into the pet industry. They incorporated the company in August 1986 with a million dollars from Phillips-Van Heusen Corporation and other investors, and opened seven stores in Arizona, Colorado and Texas by 1988. After the company lost 1.8 million dollars in 1989, its investors removed the Doughertys from control, keeping them on as consultants.
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Source PETsMART, Inc. History (FundingUniverse)
Source PETsMART, Inc. History (FundingUniverse)
Companies Founded
Source PETsMART, Inc. History (FundingUniverse)
Sources
PETsMART, Inc. History (FundingUniverse)
Companies Founded: PetSmart, Company Origins, second paragraph
Jim and Janice Dougherty incorporated their company in August 1986
Associated With: Pet Industry, Company Origins
it was the first time the high-volume, low-priced approach of retailing products to consumers had carried over to the pet industry
Associated With: Entrepreneurship, Company Origins
Jim and Janice Dougherty incorporated their company in August 1986, using $1 million in start-up investment
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