Revco
Revco is a former American pharmacy chain that was based in Twinsburg, Ohio. Revco was founded in 1956 by Sidney Dworkin and Bernard Shulman as a discount department store chain that sold drugs and health and beauty aids. The company was initially named Registered Vitamin Company, but it was later shortened to Revco.
History
Revco was founded in 1956 in Detroit, Michigan as Registered Vitamin Company. The company's founders, Sidney Dworkin and Bernard Shulman, had a vision to provide a discount department store that sold drugs and health and beauty aids. The company quickly expanded, and by 1965, it had grown to 500 stores.
In 1983, Revco was taken over by the Odd Lot Trading company. However, the company filed for bankruptcy in 1988 due to a hostile takeover attempt by the Dart Group. The company emerged from bankruptcy in 1992 and was subsequently acquired by CVS Health in 1997.
Business Model
Revco's business model was based on selling drugs and health and beauty aids at a discount. The company was able to offer these discounts by buying products in bulk and passing the savings onto the customers. This model proved to be successful, and Revco quickly expanded across the United States.
Legacy
Revco's legacy is still felt today in the pharmacy industry. The company's business model of selling drugs and health and beauty aids at a discount has been adopted by many other pharmacy chains. Additionally, many of Revco's former locations are now operated by CVS Health.
See Also
References
Revco
Revco logo from 1988
Shopping center with Revco logo, Fishkill, NY, in 2023
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