Office Depot
| Company type | Public |
|---|---|
| Industry | Retail (office supplies) |
| Founded | October 1986 |
| Founder | F. Patrick Sher, Stephen Dougherty, Jack Kopkin |
| Headquarters | Boca Raton, Florida , United States |
Area served | United States (922 stores nationwide), Mexico, Europe, Australia (historically) |
Key people | Gerry Smith (CEO) |
| Products | Office supplies, printing services, private label brands (Ativa, TUL, Foray, Realspace, DiVOGA) |
Number of employees | 45000 |
| Parent | The ODP Corporation |
| Website | officedepot |
The ODP Corporation is a leading American retailer specializing in office supplies, with its main headquarters located in Boca Raton, Florida. It manages 922 stores nationwide under the Office Depot and OfficeMax banners, complemented by e-commerce channels and a business-to-business sales segment. The company reports close to $7 billion in yearly revenue and employs around 45,000 individuals across the country.
History
Office Depot was established by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin—who assumed the roles of chairman and CEO, president, and executive vice president respectively. Prior to founding the company, all three executives had experience at Mr. HOW Warehouse, a home improvement retailer that Sher sold in 1983. The inaugural store launched in October 1986 at the Lakes Mall in Lauderdale Lakes, Florida. The firm went public through an initial public offering in December 1988.
Mergers and acquisitions
In April 1991, Office Depot expanded its footprint to the West Coast by merging with Office Club. The company entered the Mexican market in 1995 through a joint venture with Grupo Gigante, marking its initial foray outside the United States. Subsequently, in May 1998, Office Depot acquired Viking Direct, which extended its reach into European and Australian direct mail markets.
A planned merger with Staples in 1997 was prevented by the Federal Trade Commission (FTC) over antitrust concerns.
Viking Direct broadened its operations into Central America via licensing agreements in December 2001. In September 2017, Office Depot divested its European business (the parent company of Viking Direct) to a private investment firm.
On February 20, 2013, Office Depot announced an all-stock merger with OfficeMax, finalizing the transaction by November 5 of that year. Due to declining retail sales and increased digital commerce adoption, Office Depot closed approximately 400 stores in May 2014.
In February 2015, Staples agreed to acquire Office Depot for about $6.3 billion; nevertheless, the FTC opposed the merger later that year. A federal court upheld this decision in May 2016, effectively terminating the proposed acquisition.
Gerry Smith was named CEO in January 2017, bringing prior experience as COO of Lenovo Group. That same year, Office Depot enhanced its service portfolio by acquiring technology services provider CompuCom Systems.
In January 2021, Office Depot furthered its digital transformation by acquiring BuyerQuest, a company specializing in enterprise procurement software.
Environmental initiatives
Office Depot has demonstrated commitment to sustainability by opening a LEED Gold-certified retail location in Austin, Texas, in April 2008. Its corporate headquarters in Boca Raton also achieved LEED Gold certification as of September 2010.
Print and copy services
The company offers comprehensive printing solutions both online and at physical stores. Since July 2020, through a collaboration with Canva, customers can create personalized designs using integrated templates on Office Depot’s website, thereby enriching its range of products and services.
Private label brands
The company’s assortment of private label products features brands such as Ativa, TUL, Foray, Realspace, and DiVOGA. These exclusive offerings play a key role in enhancing the company’s business strategy by driving an increase in market presence.
Sponsorships
Office Depot has been engaged in a strategic alliance with NASCAR since January 2005, holding the title of "Official Office Products Partner." The firm supported the #99 Ford Fusion piloted by Carl Edwards until 2008 and later became a co-primary sponsor for Tony Stewart’s No. 14 Chevrolet at Stewart-Haas Racing starting in 2009. This partnership ended in 2012.
In November 2012, Office Depot partnered with the Born This Way Foundation to introduce a range of limited-edition office products, allocating 25% of sales revenue to the foundation—highlighting the company’s commitment to corporate social responsibility alongside its growth initiatives.
FTC settlement
In March 2019, Office Depot and Support.com, Inc., a tech support company based in California, consented to pay $35 million to resolve Federal Trade Commission charges. The allegations stated that they deceived customers into buying expensive computer repair services by falsely asserting that their software had identified malware on users’ devices.