No, Kmart did not own Target.
While both are well-known retail chains, Kmart did not own Target. Instead, both Kmart and Target in Australia operate under the ownership of the same parent company.
Understanding Retail Ownership
In Australia, Kmart and Target are considered sister companies rather than one owning the other. They are part of a larger corporate structure, which means they operate as separate retail brands but are managed by the same overarching entity. This is a common structure in the retail industry, allowing for different market segments or brand identities under a single corporate umbrella.
The True Owner: Wesfarmers
The company that owns both Kmart and Target is Wesfarmers. This ownership structure has been in place since 2007. Wesfarmers acquired both retail chains as part of its larger acquisition of Coles Group Limited at that time. Therefore, neither Kmart nor Target holds ownership over the other; they are both divisions of the same parent company, Wesfarmers.
Key points regarding their ownership:
- Shared Parent Company: Both Kmart and Target are owned by Wesfarmers.
- Acquisition Date: Wesfarmers gained ownership of both brands in 2007.
- Strategic Management: This allows for a coordinated approach to retail strategy, supply chains, and market positioning across both brands under the Wesfarmers portfolio. For more information on their operations under this ownership, you can refer to news regarding Kmart and Target's corporate activities.
