Costco Wholesale
Ken Denman has been a director of the Company since March 2017. He is a Venture Partner at Sway Ventures, a venture capital firm. He was President and Chief Executive Officer of Emotient, Inc., a developer of software technology to analyze facial expressions, until the company was acquired by Apple in January 2016. Previously, Mr. Denman was the Chief Executive Officer of Openwave Systems, Inc. and iPass, Inc. and a Senior Vice President for MediaOne. He was Chief Operating Officer of MediaOne International based in London. He is a member of the boards of directors of LendingClub, Inc., Mitek Systems, Inc. and Motorola Solutions, Inc., where he is the lead independent director. Previously he was a director at ShoreTel, Inc. and United Online, Inc. Mr. Denman was appointed to the Edward V. Fritzky chair as visiting professor at the University of Washington’s Foster School of Business in 2012. Mr. Denman sits on the boards of the Foster School and the University of Washington Foundation.
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Costco Wholesale
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Originally named "Price Club" in 1976, Costco started out by serving small businesses while additionally targeting a selected audience of non-business members. Because of their specific strategy, they quickly became successful. Today, they are one of the largest retailers in the world and retailer of choice for speciality items. Costco is a membership warehouse club that strives to bring the best possible prices on quality brand-name merchandise. Costco has more than 800 locations worldwide. They are a multi-billion dollar global retailer operating in 8 countries. Costco provides a wide selection of merchandise such as appliances, baby products, beauty products, clothing, luggage, handbags, computers, electronics, and any other household item you can think of. Within their core merchandise categories or core business, they offer food and sundries, non-foods, and fresh foods. Within their Warehouse Ancillary business, they offer gasoline, pharmacy, optical, food court, hearing aids, and tire installation. Other businesses include e-commerce, business centers, and travel. Most notably is there Kirkland Signature brand, Costco's trademark private-label brand. They only use this brand on merchandise sold through their website or warehouses. This brand came at a time where they recognized the need for quality goods at budget-friendly prices. However, most of these brands are manufactured by national brands such as Starbucks, Ocean Spray, Niagara, and Humboldt Creamery. They operate membership warehouses and e-commerce websites with a limited selection of nationally-branded and private-label products in a wide range of categories. By keeping these products at a low price, they are able to produce high sales volumes and rapid inventory turnover.