World Market (store)

World Market

Company type	Private
Industry	Retail
Founded	October 23, 1958 (1958-10-23) in San Francisco, California, U.S.
Founder	William Amthor, Lincoln Bartlett
Headquarters	Alameda, California , United States
Area served	United States
Products	Home furnishings, decor, apparel, coffee, wine, craft beer, international food items
Owner	Kingswood Capital Management

World Market, previously known as Cost Plus World Market, is a U.S.-based specialty retail chain offering imported goods including home furnishings, decor, apparel, coffee, wine, craft beer, and international food items. The initial brand name was derived from its pricing approach of adding a 10% markup over cost. From 2012 until 2021, the company was owned by Bed Bath & Beyond, and its corporate headquarters are currently located in Alameda, California.

History

On October 23, 1958, William Amthor and Lincoln Bartlett inaugurated the first Cost Plus Imports outlet at San Francisco's Fisherman's Wharf. The store originally specialized in wicker furniture sourced from Amthor's family enterprise and operated under a "cost plus 10%" pricing policy. Its early success spurred growth throughout Northern California.

By 1962, with backing from the Tandy Corporation, Cost Plus Imports was incorporated and began franchising locations in California and Texas. By 1966, the franchised stores rebranded as Pier 1 Imports, while the original company maintained the Cost Plus identity. Over time, the chain expanded to encompass 258 outlets across 39 states plus Washington, D.C.

In 1987, a leveraged buyout was executed by Bechtel Investments (now Fremont Group).

Throughout the 1990s, the company adopted the names Cost Plus World Market or simply World Market in newer markets. It became a publicly traded entity on the NASDAQ stock exchange in 1996.

By early 2006, quarterly earnings had reached $125 million with revenues of $367 million; annual sales surpassed $800 million. However, by 2008 the firm experienced losses and declined an $88.4 million acquisition offer from Pier 1 Imports.

In 2012, Bed Bath & Beyond purchased Cost Plus for $495 million.

Two years later, Cost Plus World Market introduced an online platform named Craft by World Market that utilized crowdsourcing to sell handmade products through pre-ordering.

Amidst difficulties in retail operations, Bed Bath & Beyond announced in 2019 the closure of twenty World Market stores. In February 2021, Kingswood Capital Management finalized the acquisition of Cost Plus World Market from Bed Bath & Beyond.