Costco Wholesale Corporation is one of the largest retail chains in the world, headquartered in Issaquah, Washington, USA. Founded in 1983 by James Sinegal and Jeffrey Brotman, Costco has become renowned for its unique business model, which operates on a membership-only basis, offering bulk products at competitive prices. Costco is primarily known for selling everything from groceries and electronics to home furnishings, apparel, and gasoline at its warehouse stores.
With over 800 warehouses worldwide, Costco caters to millions of members across the globe. The company is driven by its mission to provide quality goods at the lowest possible prices, and this approach has led to its consistent growth. In addition to its retail operations, Costco also offers services such as travel booking, optical services, and pharmacy services, adding to its value proposition. In 2024, Costco's annual revenue surpassed $230 billion, making it one of the top five largest retailers in the world.
CEO and Founder of Costco Wholesale
Costco Wholesale was co-founded by James Sinegal and Jeffrey Brotman in 1983, with the first warehouse opening in Seattle, Washington. James Sinegal, often regarded as the driving force behind Costco’s operational model, served as the company’s CEO until 2012. Sinegal's philosophy of providing quality products at affordable prices while maintaining low profit margins transformed Costco into a retail powerhouse.
The current CEO of Costco, Craig Jelinek, took over from Sinegal in 2012 and has continued to uphold the company's core values while overseeing its expansion into international markets. Jelinek has maintained Costco’s focus on member satisfaction, which has led to an increase in the company’s global footprint. Under Jelinek's leadership, Costco has grown to over 800 warehouses, with an emphasis on sustainable business practices and employee welfare.
List of Top Companies Owned by Costco Wholesale
While Costco primarily focuses on its warehouse operations, it has expanded into different ventures and subsidiaries that complement its retail business. Below is a list of top companies and ventures associated with Costco Wholesale:
| Company Name | Year Founded/Acquired | Valuation | Industry |
|---|---|---|---|
| Kirkland Signature | 1995 (In-house brand) | $75 Billion+ | Private Label (Various products) |
| Costco Travel | 2000 | $4 Billion | Travel Services |
| Costco Optical | 1983 | $1 Billion | Optical Services |
| Costco Pharmacy | 1983 | $3 Billion | Pharmacy Services |
| Costco Gasoline | 1995 | $12 Billion | Gasoline Services |
| Costco Business Center | 2000 | $2 Billion | Wholesale for Businesses |
| Innovel Solutions | 2020 (Acquired) | $1 Billion | Logistics and Supply Chain |
| Shoreline Solar | 2021 | $500 Million | Solar Energy Solutions |
FAQs About Costco Wholesale
Q1: When was Costco Wholesale founded, and who were the founders?
A: Costco was founded in 1983 by James Sinegal and Jeffrey Brotman in Seattle, Washington.
Q2: Who is the current CEO of Costco?
A: The current CEO of Costco is Craig Jelinek, who has been leading the company since 2012.
Q3: What is Kirkland Signature?
A: Kirkland Signature is Costco's private-label brand that offers a wide range of products, from groceries to clothing, and is valued at over $75 billion.
Q4: Does Costco own any travel companies?
A: Yes, Costco owns Costco Travel, which offers discounted vacation packages, cruises, and car rentals for its members.
Q5: How does Costco's membership model work?
A: Costco operates on a membership-only model, offering three membership tiers: Gold Star, Business, and Executive, with varying benefits such as cashback and additional services.
Q6: What is Costco’s annual revenue?
A: As of 2024, Costco’s annual revenue has exceeded $230 billion, making it one of the largest retailers in the world.
Q7: Does Costco offer gasoline services?
A: Yes, Costco Gasoline is available at select warehouses, offering fuel at competitive prices exclusively for Costco members.
