Who Owns Five Below?

 

We repeatedly hear the statement that Anco (Anderson family) owns Five Below. Does it?

No. Here's a brief history of the retail phenom:

Five Below, the popular discount retail chain, has rapidly grown from a single store in Pennsylvania to a nationwide presence with over 1,800 locations in 44 states. Founded on October 4, 2002, by Tom Vellios and David Schlessinger, the company carved out a unique niche by offering a wide array of products, primarily priced at $5 or less, catering to the tastes of teens and pre-teens.

The initial concept for Five Below emerged from the founders' recognition of a gap in the retail market for a store that appealed directly to a younger demographic with trendy, affordable items. The first store opened in Wayne, Pennsylvania, offering a vibrant and fun shopping experience with a diverse product mix that included everything from candy and snacks to room decor, tech gadgets, and seasonal novelties.

The business model proved to be a resounding success, leading to steady expansion. A significant milestone in the company's history came on July 19, 2012, when Five Below went public on the NASDAQ stock exchange under the ticker symbol "FIVE." This injection of capital fueled an even more aggressive growth strategy, allowing the company to expand its footprint across the United States.

In recent years, Five Below has evolved its pricing strategy to include a "Five Beyond" section in its stores. This area features a curated selection of products at prices exceeding the traditional $5 cap, allowing the company to offer a broader range of items and appeal to a wider customer base.

Headquartered in Philadelphia, Pennsylvania, Five Below continues to be a dominant force in the discount retail sector. Its focus on providing a dynamic and ever-changing assortment of trend-right products at low prices has solidified its position as a go-to destination for young shoppers and bargain hunters alike. The company's continued growth and adaptation to consumer trends suggest a promising future for the retail giant that started as a small idea for a teen-focused five-dollar store.