What was Home Depot’s old name? Many people may not know that Home Depot was not always called by its current name. Here, you will find out what Home Depot’s old name was and the story behind the company.
The home improvement retailer Home Depot provides both seasoned professionals and DIY enthusiasts with a vast selection of tools, equipment, and building supplies.
Home Depot is well-known for its signature orange aprons, helpful associates, and massive stores.
These stores are stocked with everything a homeowner could need to tackle a renovation project.
However, not everyone knows that Home Depot actually used to go by a different name.
So, what was Home Depot’s old name? Let’s discover the answer together!
What was Home Depot’s Old Name?
The answer is that Home Depot has always been called Home Depot.
However, the company had a predecessor called “The Home Depot,” which was a chain of home improvement stores that were owned by the Homeco company.
In the late 1970s, Homeco was a large retailer that operated several stores, including drug stores, discount stores, and home improvement stores.
One of the company’s home improvement chains, The Home Depot, was established to take on Lowe’s and HomeBase, and other home improvement retailers.
However, in 1978, Homeco got out of the home improvement business and sold the Home Depot chain to Marcus and Blank for $1 million.
Then, Marcus and Blank decided to drop “the” from the name,
The Birth of Home Depot
Arthur and Bernie were two former executives at a home improvement store called Handy Dan.
They had fired Bernie and Arthur from their positions at Handy Dan, which gave them the confidence to start their own company.
They set out to build a business that would serve as the clients’ one-stop shop for all of their home improvement requirements.
It was intended to function as a warehouse-style store that provided clients with a large assortment of goods at competitive pricing.
The store was an instant success, and within a year, Home Depot expanded to three locations.
Meanwhile, by 1984, the company had gone public and was trading on the NASDAQ stock exchange.
Although Home Depot’s name may have changed, the company’s commitment to providing exceptional service and high-quality products remains the same.
Home Depot will probably remain a top retailer in the home improvement sector as we look to the future.