American retail chain of party supply stores - Party City
Party City Holdco Inc. is an American publicly traded retail chain of party stores founded in 1986 by Steve Mandell in East Hanover, New Jersey. It is the largest retailer of party goods in the United States, Canada, and Mexico, operating over 800 company-owned and franchise outlets under the Party City, Halloween City, Toy City, and Factory Card & Party Outlet brands.
If you are a person who plans at the last minute then Party City hours would help you to pick up all the party supplies to make your celebrations even more memorable. So you got a solution now let’s dive deep into the know about how Party City has become America’s biggest retail chain for party supplies.
Founding and Franchising
In 1986 Party city was founded by Steve Mandell when he realized that there was a huge demand for party goods, but to fulfill the high demand the supply only came from small mom and pop stores. So Mandell deceived to start a big dominating company for part goods and scraped his $125,000 together to open a 4,000 square feet store in East Hanover, New Jersey, naming it Party City.
His idea was an immediate success and within a year he started his second store. He also began to hear from people asking to franchise the Party City concept, and as a result, Party City began its evolution into a national chain. After his first year in business Mandell also decided to concentrate on Halloween, so in 1987 he dedicated a quarter portion of his shop to make a “Halloween Costume Warehouse”. The move was highly successful and led to the company’s ongoing focus on holiday.
The first Party City franchise store opened in 1989 in Hazlet, NJ and by 1990 Mandell also owned four Party City stores. By the end of 1990, Party City outlets numbered 11; five more franchised stores were added in 1991, 16 in 1992, and another 26 in 1993, bringing the total to 58. Party City was now a nationwide chain with store locations ranging from Hawaii to Puerto Rico. The company’s annual revenues in 1993 topped $2.4 million and net profits approached $235,000.
Moving Into The Online Marketplace
In 2009, Party City launched an e-commerce website at PartyCity.com and in 2011 added a “Party Ideas” Center containing shopping checklists, photo galleries, and video tutorials.
In June 2018, Party City announced that it would open around 50 Toy City pop-up stores beginning in September 2018, alongside Halloween City stores. The stores will operate through the conclusion of the holiday season. The decision was meant to capitalize upon the closure of the U.S. locations of Toys “R” Us, and some of its locations were utilizing the retailer’s vacancies.