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West Marine history
West Marine company history timeline
Repass first tasted the boating supply business through his homespun operation of West Coast Ropes--a garage-based business selling rope used for boating lines--in 1968.
By 1973, married with two children, Repass started his own consulting firm, Semiconductor Engineering Associates.
When he opened the first West Marine store in Palo Alto in 1975, it was indeed the first retailer of its size and selection in the underserved industry.
In 1977 he purchased some assets of West Products, a mail-order company based in Boston.
In 1988 the company moved its headquarters from Santa Cruz to its current location in Watsonville, California.
Through acquisitions of the Newport Supply and Cal Marine chains and the opening of its own shops, West Marine had 12 stores on the West Coast and a mail-order catalog business, with 1988 sales of $56.3 million.
However, there were recurrent financial difficulties, and in 1989, Repass took three months off to build a house, spend time with his family, and reflect on the company's future.
Sales from its Port Supply Wholesale Division increased 35 percent (to $20.3 million) in 1993.
In 1993 West Marine, Inc., was formed as a parent company for West Marine Products, Inc., and incorporated in California.
By 1994, comparable-store sales had leaped by 15.8 percent over the previous year, and the stores' initial stock of 600 items had mushroomed to some 18,000 items.
In April 1995 Crawford Cole took over as CEO, and Randy Repass became chairman.
Galarza, Pablo, “Boat-Supply Retailer Launching More Stores,” Investor’s Business Daily, April 5, 1995.
Eighteen new stores were opened in 1995, including first stores in North Carolina, Maine, and Michigan.
The power boating market represented a major growth area for the company, since it is substantially larger than the sailing market (accounting for 85 percent of all boat registrants in 1995).
The opening of the company's 150th store in San Francisco, in July 1996, was celebrated with Grand Opening festivities.
West Marine significantly increased its management strength and experience by hiring John Edmondson as president and CEO in 1998.
By 1999, the company was shipping to 150 countries, and the majority of sales was spread over 25 markets.
Growth continued despite uncertain economic conditions following the terrorist attacks on New York City in 2001, although in a different way.
In 2002, West Marine moved into Canada, opening two stores.
In January 2003, West Marine bought the retail and catalog divisions of BoatUnited States, its biggest competitor.
"Peter Harris to Join West Marine at CEO in January," Business Wire, December 8, 2004.
In 2004, the company opened a second superstore in San Diego.
Feldman, Heidi; Wernick, Ellen "West Marine, Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/west-marine-inc
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West Marine competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Williams Sonoma | 1956 | $7.7B | 28,200 | 1,385 |
| PacSun | 1982 | $797.8M | 10,300 | 1,045 |
| Staples | 1986 | $18.2B | 75,000 | 1,734 |
| Sprouts Farmers Market | 2002 | $7.7B | 35,000 | 853 |
| Sterling Jewelry | 1906 | $6.0B | 18,000 | - |
| The Home Depot | 1978 | $159.5B | 500,001 | 26,188 |
| Kroger | 1883 | $147.1B | 465,000 | 10,667 |
| Michaels Stores | 1973 | $5.3B | 45,000 | 2,606 |
| VF | 1899 | $10.5B | 50,000 | 1,133 |
| AmAppInc | 1987 | $608.9M | 8,000 | - |
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West Marine may also be known as or be related to WEST MARINE INC, West Marine, West Marine Inc, West Marine Products, Inc. and West Marine, Inc.