Duluth Holdings
#9447
Rank
$81.9M
Marketcap
United States
Country
Mr. Stephen L. Schlecht (Founder & Non-Exec. Chairman)
Mr. Samuel M. Sato (Pres, CEO & Director)
Mr. David Loretta (Sr. VP, CFO & Sec.)
Summary
History
Founding
Originally founded by two brothers, Bob and Dave Fierek, as Portable Products, Inc. in 1989, the company then primarily focused on those working in construction and a tool accessory known as the "Bucket Boss". The business grew to incorporate more tool accessories and storage equipment in a catalog, under the Portable Products banner, with the first headquarters being established on a barge in Duluth, Minnesota soon after. By 1993, the catalog was expanded and entitled Duluth Trading Co.
Expansion
In the mid-1990s, the company switched hands, purchased by Fiskars. In 2000 it was sold again, this time to Gempler's, and moved its headquarters to Belleville, Wisconsin. The company created a successful line of shirts called "Longtail T Shirts" in 2002 which were designed to get rid of plumber's crack. Gempler's was sold in 2003 to Lab Safety Supply and the owners retained Duluth Trading Company. Two years later in 2005, the first women's catalog was released.In 2011, Duluth Trading Company aired its first nationwide ads featuring an angry beaver. Duluth Trading Company's parent, Duluth Holdings, went public in 2015.During the retail apocalypse of the mid-2010s when many physical stores were closing, Duluth Trading Company had outperformed their own expectations and continued to open new locations throughout the United States. Due to its rapid rate of expansion, Duluth Trading Company saw lower revenues in 2017. There are 31 stores as of December 8, 2017, and there are plans for opening 15 more that year. The company will open its first store in the New York Metropolitan Area at The Ramsey Square Shopping Center in Ramsey, New Jersey.
Sponsorship
In 2017, Duluth Trading Company was chosen to be the "Official Off-Sled Outfitter" of the United States luge team. In June 2022, the company was named title sponsor of the Cure Bowl, a postseason college football bowl game.
Mission
Vision
Key Team
Mr. David S. Homolka (Sr. VP of Talent, DE&I and Retail Operations)
Mr. Michael J. Murphy CPA (VP & Chief Accounting Officer)
Mr. Albert J. Sutera (Sr. VP, Chief Technology Officer & Logistics)
Mr. Richard W. Schlecht (Sr. VP of Product, Merchandising & Inventory)
Ms. Neala Shepherd (Sr. VP of Customer Experience)
Recognition and Awards
References
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Mr. Stephen L. Schlecht (Founder & Non-Exec. Chairman)
Mr. Samuel M. Sato (Pres, CEO & Director)
Mr. David Loretta (Sr. VP, CFO & Sec.)
