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Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983.
In 1966, a vision for revolutionizing retail electronics was born in Saint Paul, Minnesota. Richard M. Schulze, the ambitious founder, embarked on his entrepreneurial journey with a store named Sound of Music.
Best Buy was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.“ “ Best Buy History. Early history. In 1966, Richard M. Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in Saint Paul, Minnesota.
Company History: Minnesota-based Best Buy Co., Inc. is the leading consumer electronics retailer in the United States, far outpacing archrival Circuit City Stores, Inc. in revenues if not in store count.
Best Buy unveils a revolutionary “grab-and-go” store format in a non-commissioned, warehouse-style environment; Best Buy’s brand logo changes to the familiar yellow tag. Best Buy becomes the nation’s second-largest consumer electronics retailer. Best Buy establishes the Best Buy Children’s Foundation to invest in organizations and ...
Best Buy was a behemoth in electronics retail that nearly suffered the fate of fallen competitors, such as Circuit City. But it engineered a miraculous turnaround, and now a new CEO intends to...
Technology has changed a lot over the past half century, and so has Best Buy. We talked with our founder Dick Schulze and our current CEO Hubert Joly to take stock of the past and look into the future.
Although the company had overtaken archrival Circuit City in the late 1990s to become the largest consumer electronics retailer in the United States, its victory was marginal and the price reductions needed to capture market share had hurt Best Buy ’ s profit margins. Early History. Best Buy is the brainchild of the company ’ s founder ...
History of Best Buy. Monday Aug 22, 1966 to Present. U.S. Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota.
About Best Buy At Best Buy, our purpose is to enrich lives through technology. We do that by leveraging our unique combination of tech expertise and human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into their homes.