L. S. Ayres Indianapolis on October 13, 1961. This subsidiary was one of the first discount store divisions launched by a traditional department store. The Indianapolis Ayr-Way store opened prior to the first Kmart, which opened in Garden City, Michigan, in March 1962, and the first Target store, which opened in May 1962. Ayres also opened Ayr-Way stores in other cities. Ayres encountered several challenges in establishing and operating the new discount store concept. First, Ayres needed to define a clear brand identity for the new subsidiary and its relationship to the L. S. Ayres store brand. Second, errors in selection of store
L. S. Ayres L. S. Ayres L. S. Ayres and Company was an Indianapolis, Indiana, department store founded in 1872 by Lyman S. Ayres. Over the years its Indianapolis flagship store, which opened in 1905 and was later enlarged, became known for its women's fashions, the Tea Room, holiday events and displays, and the basement budget store. As urban populations shifted to the suburbs, Ayres established branch stores in new shopping centers in several Indiana cities. Ayres also acquired retail subsidiaries in Springfield, Illinois; Fort Wayne, Indiana; and Louisville, Kentucky. Ayr-Way, the Ayres discount store subsidiary, became the first discount store launched by