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World Market (store)
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World Market (store)
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Inside a Cost Plus World Market in Kennesaw, Georgia

Key Information

Former headquarters of Cost Plus World Market in Oakland, California

World Market, formerly Cost Plus World Market, is an American chain of specialty/import retail stores, selling home furniture, decor, curtains, rugs, gifts, apparel, coffee, wine, craft beer, and international food products. The brand's original name came from the initial concept, since abandoned, of selling items for "cost plus 10%". The company was owned by Bed Bath & Beyond from 2012 to 2021, and is currently headquartered in Alameda, California.[2]

History

[edit]

On 23 October 1958,[3] William Amthor and Lincoln Bartlett[4] opened the first Cost Plus Imports store at 2552 Taylor Street on Fisherman's Wharf in San Francisco, California.[5] Amthor and Bartlett worked at Amthor's family's import business in San Francisco, which had imported a surplus of wicker furniture. Unable to offload the pieces via wholesale, they rented 4,000 square feet (370 m2) of warehouse space in the Fisherman's Wharf area.[6] The imported furniture sold quickly, and Amthor began a new business as a retailer. When the first store opened in 1958, it was devoted to wicker and rattan that the company had imported. The store was named Cost Plus after their strategy of pricing the imported goods at cost, plus ten percent. The stores featured an eclectic mix of imported furniture and home furnishings, displayed in the style of a bazaar.[7]

In 1962, with the help of the Tandy Corporation (the owner of Radio Shack), Cost Plus Imports incorporated and opened its first franchise location in San Mateo, California. From 1962 to 1965, Cost Plus opened 15 franchised locations in California and Texas. While Cost Plus owned the brand name and imported the merchandise, the franchise stores themselves were owned by Tandy. In 1965, the management of the franchise operation had decided that the business model of Cost Plus was too oriented toward sales from their large store in San Francisco, which Tandy viewed as not well-suited for smaller franchises. They gave Cost Plus 12 months notice that they would be starting their own operation and in 1966, the franchises were successfully importing their own products and had rebranded as Pier 1 Imports, run as a division of Tandy Corporation.[4][6][8] The two companies would remain competitors for many decades.[9]

Cost Plus was left only with its original San Francisco store, but decided to once again rebuild a chain, opening their first wholly owned branch store, once again in San Mateo, in a large location in Hillsdale Shopping Center.[10][11] In 1968, Cost Plus would open a third location in Mayfield Mall in Mountain View, California.[12] The chain would eventually grow to 258 stores across 39 states and Washington, D.C.[as of?] The Fisherman's Wharf location would have a floor size of 40,000 square feet at its peak and remained Cost Plus's flagship store for many years,[9] but the company would eventually reduce the size of this location, and it closed permanently in 2020.[5]

The 1973 action film Magnum Force includes a shootout at the San Francisco Cost Plus location.

In 1987, Bechtel Investments (Fremont Group) completed a leveraged buyout.[9] The company's profits declined during the 1980s, but a significant reorganization of the company's stores and product line during the early 1990s turned the company's fortunes around, and it began a round of expansion, expanding to over 100 stores by the end of the decade.[9] During this period, Cost Plus shifted the branding of its stores to either Cost Plus World Market or simply World Market in markets new to the brand (generally in the eastern or southern regions of the United States). In 1996, Cost Plus World Market went public and began trading on the NASDAQ stock exchange.

In February 2006, Cost Plus World Market reported quarterly earnings of $125 million, with $367 million in revenue for the fourth fiscal quarter of 2006. Annual earnings were $280 million with over $800 million in revenue. By 2008 the company was operating at a loss, and rebuffed an 88.4 million dollar takeover bid by its early spinoff, Pier 1 Imports.[13]

In 2012, Cost Plus was acquired by Bed Bath & Beyond for $495 million.[14]

In 2014, Cost Plus World Market launched an online crowdsourcing-model marketplace, Craft by World Market.[15] The website posts items for one month at a time, and sells only products that attract enough pre-orders to be worthwhile.[16]

In October 2019, Bed Bath and Beyond announced pending closure of 40 Bed Bath and Beyond stores and 20 stores of World Market and other subsidiaries,[17] including the original store at Fisherman's Wharf. The company sold Cost Plus World Market to Kingswood Capital Management in February 2021.[5][18]

References

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World Market (store)

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World Market is an American specialty retail chain that offers a wide assortment of imported and global-inspired home furnishings, furniture, decor, rugs, curtains, gifts, apparel, , and international and beverage products, emphasizing quality, value, and eclectic styles drawn from around the world. Founded in 1958 in , , the company has grown into a national retailer operating approximately 247 physical stores across the as of October 2025, complemented by a robust platform. Formerly known as Cost Plus World Market, the chain rebranded to World Market in 2021. Acquired by Kingswood Capital Management in 2021 from , World Market continues to expand selectively, with recent store openings marking its first growth in several years under ownership. The retailer is particularly renowned for its seasonal offerings, such as the annual Marketplace featuring European-inspired holiday decor, cakes, cookies, and candies, alongside everyday imports like , wine, , and global snacks that create a "spirited shopping environment" inspired by international trends. Headquartered in , World Market maintains a commitment to sourcing unique, high-value items to appeal to home decorators, entertainers, and gift shoppers, generating significant revenue through both in-store and online channels.

History

Founding and Early Years

Cost Plus World Market, originally known as Cost Plus Imports, was founded in 1958 by William Amthor, a businessman who had been importing furniture. Amthor opened the first store on October 23, 1958, at 2552 Taylor Street in the Fisherman's Wharf area, initially utilizing a 4,000-square-foot space to sell surplus imported goods. The store's innovative business model centered on selling imported merchandise—primarily from and —at cost plus a modest fixed markup of 10 percent, appealing to bargain-conscious consumers seeking unique, affordable items without traditional retail markups. This warehouse-style format emphasized a casual, exploratory experience, stocking eclectic goods such as furniture, torches, and textiles in a no-frills environment that quickly became a local attraction. Early expansion was gradual and regionally focused, beginning with additional locations in the greater during the early 1960s. In 1962, Amthor's concept inspired a separate venture backed by , which launched a chain of Cost Plus-named stores in ; however, the original company continued its independent growth into throughout the 1960s and 1970s, reaching approximately 25 stores by the mid-1980s, all concentrated in and one in . The 1970s brought operational challenges for import-dependent retailers like Cost Plus, as global economic pressures, including rising fuel costs from oil crises, increased shipping expenses and disrupted supply chains for overseas goods. By , amid emerging concerns over product quality consistency, the company announced plans to open new stores in San Dimas and Bakersfield to sustain its westward momentum.

Growth and Rebranding

In 1987, Investments (later known as the Fremont Group) completed a of Cost Plus, Inc., acquiring the company for approximately $40 million; however, this transaction initially resulted in financial losses and challenges with merchandise quality, laying the groundwork for subsequent restructuring efforts. The company's turnaround began in 1990 with the appointment of Ralph D. Dillon as president and chief operating officer, recruited from Stores to refine the merchandise mix and redesign store prototypes. Under Dillon's leadership, the early saw the introduction of the "Cost Plus World Market" format, which emphasized a curated selection of imported goods and a more appealing store layout to attract a broader customer base focused on unique, globally sourced items. A pivotal moment came in April 1996 when Cost Plus completed its on the NASDAQ stock exchange under the ticker CPWM, raising $29.8 million to fuel expansion; this enabled the company to grow aggressively, opening 8 new stores that year and planning 12 more in 1997, with projections for 15-20% annual growth leading toward approximately 90 stores by the end of the decade. By the early , the "World Market" branding was rolled out for new market entries to underscore the emphasis on international imports, culminating in a full to Cost Plus World Market across the chain to better highlight its global theme and differentiate from competitors. This period of growth continued into the mid-2000s, with the company operating 267 stores by the end of fiscal 2005 and achieving a significant financial milestone in 2006, reporting net sales of $1.04 billion and net income of $22.5 million for the full year, with fourth-quarter net sales of $396.7 million and net income of $7.5 million, which supported ongoing store openings and reinforced its position in the specialty retail sector.

Ownership Changes and Recent Developments

In 2012, acquired Cost Plus, Inc., the parent company of World Market, for approximately $495 million in cash, integrating the specialty import retailer into its broader portfolio of home goods brands. This acquisition allowed for shared supply chains and operational synergies, but it also contributed to 's eventual overextension amid aggressive expansion and financial strains across its holdings. By 2019, as faced mounting financial pressures including declining sales and increased competition, the company announced the closure of 20 World Market stores as part of a broader plan to shutter 60 locations across its portfolio, temporarily reducing World Market's physical footprint. These closures were aimed at cost-cutting but highlighted the challenges of maintaining diverse brands under one umbrella during a period of retail disruption. The ownership shifted again in 2021 when sold World Market to Kingswood Capital Management, a Los Angeles-based , for an undisclosed amount, allowing the brand to operate independently following 's Chapter 11 bankruptcy filing in 2023. Under Kingswood's stewardship, World Market refocused on its core import model, emphasizing unique global products and streamlined operations to regain stability. Post-acquisition recovery gained momentum with the first new store openings in three years beginning in October 2024, including locations in Texas and California, as part of a deliberate expansion strategy. By April 2025, the chain had grown to 246 stores, with additional openings continuing into late 2025, such as in Paramus, New Jersey (May 2025), Sarasota, Florida (February 2025), and Somerville, Massachusetts (October 2025), bringing the total to 247 stores as of November 2025.

Products and Services

Home Furnishings and Decor

World Market's home furnishings and decor offerings center on a diverse array of imported items that evoke global aesthetics at accessible prices. The store features furniture crafted from natural materials such as and , drawing from international designs to create eclectic living spaces. Examples include armchairs and tables inspired by tropical motifs, as well as outdoor dining sets with clean, durable lines suitable for patios and gardens. These pieces are sourced from artisans across more than 50 countries in , , , North and , and , ensuring a broad representation of cultural influences like Moroccan-style lanterns with intricate metalwork and Indian block-printed textiles for . Complementing the furniture, World Market's decor selection includes rugs, curtains, pillows, wall , and seasonal accents that emphasize affordable, worldly charm. Imported rugs in Persian-inspired patterns or woven geometrics add texture to floors, while curtains and pillows featuring vibrant Indian textiles or mud-cloth prints provide customizable softness. Wall art ranges from framed vintage-style rug fragments to abstract canvas pieces, and holiday ornaments—such as hand-felted wool stars from —bring festive, international flair to celebrations. This inventory prioritizes an eclectic mix that blends functionality with cultural storytelling, appealing to consumers seeking unique, budget-friendly enhancements for their homes. A hallmark of these offerings is the focus on handcrafted quality, with many pieces produced by skilled artisans using traditional methods, and select items certified under standards to support ethical production. World Market maintains its model, rooted in the company's origins, allowing competitive retail prices without compromising on imported authenticity. In 2014, the retailer expanded its artisan focus with the launch of Craft by World Market, an online platform that crowdsources unique decor and furniture from global makers, offering limited-edition items to further diversify custom home options.

Food, Beverages, and Gifts

World Market offers a diverse array of international food selections, emphasizing imported specialties that evoke global culinary traditions. Shoppers can find chocolates from , such as varieties, alongside French biscuits and Swedish licorice from Europe; Asian snacks like sticks and matcha-flavored treats; and Latin American options including Mexican hot sauces and Peruvian quinoa-based products. Spices, such as Moroccan and Indian , along with teas from regions like Ceylon and , complement these offerings, providing authentic flavors sourced from over 50 countries to enhance home cooking. The beverage assortment highlights curated imports, with a focus on wines from renowned regions including , , and , alongside craft beers like Belgian ales and English IPAs under exclusive World Market branding. Coffee selections feature beans from global roasters in and , while non-alcoholic options include imported sodas such as Mexican Jarritos and Italian San Pellegrino. Stores host in-store tasting events, such as grand wine tastings paired with game-day snacks, allowing customers to sample these beverages in a festive setting. Gifts and accessories in this category center on portable, imported items that capture a travel-inspired essence, often priced under $50 for affordability. Examples include delicate jewelry like Turkish pendants and Indian bangles; stationery such as Japanese tape sets and French notecards; and apparel like Peruvian scarves or Moroccan hats, frequently bundled into themed gift sets for occasions like holidays or birthdays. Sourcing for these products involves partnerships with global artisans and producers, prioritizing authentic, seasonal items like holiday-specific European cookies or limited-edition Asian teas over mass-produced alternatives. This approach ensures an ever-changing inventory that reflects cultural authenticity and timely trends.

Operations

Store Locations and Format

World Market operates 247 stores across 38 U.S. states and territories as of October 2025, with a strong concentration in (53 locations), (28 locations), and (14 locations). The chain's stores are typically situated in urban and suburban areas, often within high-traffic shopping centers, strip malls, or standalone buildings to maximize accessibility and foot traffic. Stores follow a warehouse-style format, averaging 15,000 to 20,000 square feet, featuring open layouts with exposed ceilings, concrete floors, and simple wooden fixtures to evoke an eclectic, global marketplace atmosphere. This design allows for flexible merchandise displays, including demo areas for furniture and tasting zones for international foods and beverages, enhancing the experience by immersing customers in a "world " theme. Since its 2021 and ownership change, World Market has emphasized experiential elements in its store format, incorporating in-store events such as festivals, spin-to-win giveaways, and pop-up cultural displays to reinforce the global inspiration behind its product categories. The chain's expansion strategy has been selective and measured, with multiple new store openings in 2024 following a period of limited growth, and continued selective additions in 2025, resulting in net growth from approximately 240 stores in mid-2024 to 247 by October 2025.

Online Presence and E-commerce

World Market launched its e-commerce platform, worldmarket.com, in November 2005, expanding access to its global-inspired product assortment beyond physical stores. The website features an extensive catalog encompassing home furnishings, decor, food, beverages, and gifts sourced from around the world, enabling customers to browse and purchase a diverse range of imported and exclusive items. Key functionalities of the online platform include seamless integration with in-store inventory for real-time availability checks, supporting hybrid shopping experiences such as buy online and pick up in store (). Customers can opt for free curbside pickup at all 247 physical store locations, typically available the same day for reserved items. In select markets, same-day delivery is offered through partnerships like , alongside standard shipping options that typically arrive within 4-9 business days. Exclusive online offerings, such as limited-edition imports not always available in stores, further enhance the digital shopping experience. E-commerce has become a vital growth channel for World Market, with online sales reaching $540 million in 2024 and projected to exceed $500 million annually by 2025, driven by post-pandemic shifts toward digital retail. This represents a significant portion of , estimated at 20-50% based on varying industry reports, underscoring the platform's role in overall sales expansion. The company's digital marketing efforts tie closely to its presence, featuring promotions for seasonal sales events and integration with the World Market Rewards . Members of the base Explorer tier earn 10 points per $1 spent (equivalent to 10% back, with 100 points = $1 reward) and receive benefits like a 15% discount on first orders; the premium tier offers enhanced earnings and additional perks, including 10% off store pick-up transactions with no shipping fees and birthday rewards, all accessible via the to encourage repeat and hybrid synced with in-store happenings.

Corporate Information

Ownership and Headquarters

World Market operates as a wholly owned of Kingswood Capital Management, L.P., a Los Angeles-based firm that acquired the retailer from Inc. in January 2021 for $110 million. This 2021 transaction transitioned World Market into a private entity under ownership, following its acquisition by the then-public in 2012. As a private company, it no longer participates in public trading markets. The company's headquarters are located at 1201 Marina Village Parkway in , a site to which it relocated from Oakland in 2016 to consolidate corporate operations in a larger facility. This location serves as the base for over 200 corporate staff members focused on key functions such as , , and . Governance is overseen by Kingswood Capital Management, which applies a private equity model emphasizing cost efficiencies, operational turnarounds, and strengthened vendor relationships to drive value creation. Alex Smith serves as Executive Chairman, providing strategic direction as a Kingswood operating partner. Eric Hunter serves as CEO, overseeing day-to-day operations. Under Kingswood's ownership, the company has pursued operational optimization strategies.

Employment and Sustainability

World Market employs approximately 6,810 people across its retail and corporate operations as of 2025. The workforce is primarily composed of store associates, with part-time roles predominant in retail positions to accommodate variable store hours and customer traffic. Corporate staff handle functions such as merchandising, , and support. Average hourly wages for sales associates range from $12.50 to $16.97, with additional benefits including , paid time off, and employee discounts offered to full-time employees. The company emphasizes diverse hiring and inclusive workplace practices, fostering a culture described as collaborative, open-minded, adaptable, honest, respectful, and committed to diversity and inclusion. Following its acquisition by Kingswood Capital in 2021, World Market has implemented training programs to support employee development and promote equitable opportunities. Labor practices extend to supply chain oversight, where the company conducts third-party audits through Omega Compliance Group to verify compliance with human rights standards, including prohibitions on forced labor, child labor, and excessive working hours. Suppliers must complete annual online social compliance assessments and certify adherence to local labor laws, ensuring fair wages, safe working conditions, and a maximum 60-hour workweek with at least one day off per seven days. These measures focus on fair labor in imported goods, with periodic on-site visits by buying agents to monitor vendor facilities. World Market's sustainability efforts center on ethical sourcing and transparency, integrating social compliance to mitigate risks like through annual Forced Labor Risk Assessments under the (CTPAT) program. While specific environmental metrics such as plastic reduction or carbon offsets are not publicly detailed, the company's vendor guidelines require subcontractors to uphold the same standards, promoting responsible practices across global imports. No major controversies related to labor or have been reported in recent years. Corporate policies underpin these commitments, with the Ethical Conduct Policy mandating adherence to U.S. and international laws, including anti-bribery provisions under the and restrictions on conflicts of interest such as accepting gifts over $25 without approval. The Social Compliance guidelines, published on the company website, outline the for suppliers, emphasizing transparency and in the without notable violations or legal challenges. Violations of these policies can result in disciplinary actions, including termination, and employees are encouraged to report concerns via a dedicated .

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