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Kmart is owned by the Sears Holdings Corporation, which like any corporation, is owned by shareholders. A CEO on day took over both kmart and sears and decided to name it sears holdings because sears has a better reputation than kmart. Vibhu Bhardwaj.
For other uses, see Kmart (disambiguation). Kmart Corporation (sometimes stylized as K mart or kmart) is a chain of big box department stores headquartered in Hoffman Estates, Illinois, United States. The chain purchased Sears for $11 billion in 2005, forming a new corporation under the name Sears Holdings Corporation.