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
Discount Investment Corporation Discount Investment Corporation Discount Investment Corporation Ltd. (“DIC”) () is a holding company based in Israel. The company is listed on the Tel Aviv Stock Exchange and is a constituent of the TA-100 Index. The company’s is controlled by IDB Holding Corporation Ltd. () Discount Investment Corporation was founded in 1961 as an investment vehicle of the Recanati family, which at the time were owners of the Israel Discount Bank; itself founded by the family in the 1930s after emigrating from Greece during the British Mandate of Palestine. The family business were controlled by umbrella company IDB Holding Corporation (IDB