The membership-only warehouse club founded in 1983 in Seattle is Costco.
Jeffrey Brotman and Jim Sinegal opened the first Costco warehouse on September 15, 1983, in Seattle, Washington. The company sold goods in a warehouse setting and kept markups low, using membership fees and high-volume sales to support its business model. Customers typically shop in large quantities, while the limited-selection format helps Costco negotiate lower prices.
Costco’s history is related to, but not identical with, Price Club. Price Club was founded by Sol Price in San Diego in 1976, and the two businesses merged in 1993 to form PriceCostco. The company later returned to the Costco name in 1997. That earlier Price Club history is why some accounts give Costco’s corporate lineage a 1976 starting point, even though the first Costco warehouse opened in 1983.
Another common mix-up is Sam’s Club, which was also founded by Sam Walton but is a separate warehouse-club chain. Costco’s private-label brand is Kirkland Signature, named after a former headquarters location.