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About Staples Inc. :
Staples
Inc. (NASDAQ: SPLS) is a large office
supply chain
store, with over 2,000 stores worldwide in 26
countries. Based in Framingham, Massachusetts, United States, the company has retail
stores, serving customers under its original
name in Austria, Brazil, China, Denmark, France, Germany, India, Italy, Norway, Portugal, United Kingdom, and the United States, while operating subsidiaries in
Argentina as
Officenet-Staples,
Belgium and
Netherlands as
Office Centre, Canada as Staples Canada (Bureau En Gros
in Quebec), and in
Italy as Mondoffice. Staples also does business exclusively with enterprises in multiple European
countries as Staples
Advantage.
Staples sells supplies, office machines,
promotional products, furniture,
technology and business services both in stores and online. The company opened its first store in
Brighton, Massachusetts in
1986. Quill Corporation is Staples most profitable division, accounting for nearly 25% of the company's net
income. Between 1998 and 2009 Quill grew from $500 million in revenues to over $1.3 billion. The company is
still one of Staples' fastest growing divisions and is led by Michael Patriarca, President of Quill Corporation.
The L in the logo is a
stylized staple.
The idea for Staples was created in 1985, while
founder Thomas G. Stemberg was working on a proposal for a different business. He needed a
ribbon for his printer, but was unable to obtain one because his local dealer was closed for
the Independence Day holiday. A frustration with the reliance on small stores for
critical supplies combined with Stemberg's background in the grocery business led to a vision for an office
supply superstore.[1] The first store was
opened in Brighton, Massachusetts in 1986. In 1990, Staples began to expand to western United
States, particularly in
California.
In 1991, Staples founded its Canadian subsidiary, The Business
Depot, and began opening stores under that name, though over a decade later, all stores were renamed as "Staples."
The first store opened in Vaughan, Ontario, north of Toronto. The following year, Staples began expanding into Europe, and opened its first store
in Swansea, United
Kingdom.
During its 10th anniversary in 1996, Staples became one of
the Fortune 500 companies as sales surpass $3 billion. Staples acquired the naming rights for the
Staples Center in Los Angeles during its construction in 1998. The 500th store was opened in Vero
Beach, Florida and its 1000th store
was opened in Duluth, Georgia.
On September 4, 1996, Staples and Office
Depot announced plans to
merge.[2] The
Federal Trade Commission decided that the superpower would unfairly increase office supply prices despite competition
from OfficeMax, because OfficeMax did
not have stores in many of the local markets that the merger would affect.[3] Staples ultimately
argued that chains such as Wal-Mart and Circuit City Stores represented significant competition, but this argument did little
to sway the FTC. Following the denial of the merger by the FTC, a rivalry has formed between the two
companies.
Between 1999 and 2001, unsuccessful attempts to enter
telecommunications business was made as Staples created Staples Communications after the purchase of
Canada-based company, Claricom, from an
investment group. The company was later sold to Platinum Equities and renamed NextiraOne.
By 2001, Staples integrated its e-commerce website to all of
its subsidiaries across the world. In 2002, Staples launches Staples Foundation for Learning and
acquires
Medical Arts Press, which
becomes part of Quill Corporation. By 2004, Staples expanded to Austria and Denmark and in 2007, Staples
opens its first store in India. In 2008, Staples acquired Dutch office supplies company Corporate
Express, one of the largest office supply
wholesalers in the world.[4] Staples also
launched 11 concept stores in the New England area featuring a large focus on small business and technology
related services.
The
Staples
Inc.
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