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Pet Supplies Plus was founded in 1988 by Harry Shallop and Jack Berry, in Redford, Michigan. [8] In December 2018, Pet Supplies Plus was acquired by Sentinel Capital Partners. [9] In January 2021, the Franchise Group, Inc., announced it was acquiring Pet Supplies Plus, [10] [11] and the deal was closed on March 10, 2021. [12]
Pets.com tried to build a customer base by offering discounts and free shipping, but it was impossible to turn a profit while absorbing the costs of shipping for heavy bags of cat litter and cans of pet food within a business field whose conventional profit margins are only two to four percent.
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In 2001, Drs. Foster and Smith increased its market share by 20% through the acquisition of Pet Warehouse, a Dayton, Ohio mail-order catalog, in a cash buyout. [12] The acquisition expanded the company's product selection from primarily dog and cat supplies to also include products for aquariums, birds, small pets, and reptiles. [12]
In August 2022, Chewy announced the introduction of the CarePlus program, which provides pet insurance and wellness plans. This initiative marked Chewy's entry into the health insurance sector for pets. [23] In the 2022 fiscal year, Chewy's net sales grew 13.6% since 2021, to $10.1 billion. [24]
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