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Company type | Division |
---|---|
Nasdaq: FWM | |
Industry | |
Founded | 1933New York City, New York, United States | in
Founder | Nathan Glickberg |
Headquarters | 5000 Riverside Drive, , U.S. |
Number of locations | 4 (2020) |
Area served | New York metropolitan area |
Revenue | $810 million |
Parent | Wakefern Food Corporation |
Website | fairwaymarket |
Fairway Market is an American grocery chain founded in 1933 by Nathan Glickberg. [1] [2] It is one of the brands owned by the Wakefern Food Corporation, whose flagship supermarket cooperative network is ShopRite. [3]
The prime location at Broadway and West 74th Street, on the Upper West Side of Manhattan, is one of four surviving stores as of 2020 [4] that are operated by Wakefern cooperative member, Village Super Markets. [5]
Fairway Market is a specialty market with four locations in Manhattan.
Sterling Investment Partners, a private equity firm in Westport, Connecticut, bought a controlling stake in Fairway Market in January 2007 and expanded the chain in the Greater New York area. Sterling made a $150 million capital investment in Fairway leading to enterprise growth. [6]
In 2011, the chain had revenues of $550 million. [6] It was spun off in an IPO on April 17, 2013, trading under its parent, Fairway Group Holdings Corp., on the NASDAQ under the ticker symbol "FWM". [7]
The original Fairway Market at West 74th Street on Manhattan's Upper West Side was originally a produce shop. By 1997, it had expanded with a café that became a steakhouse at night. [8]
In 2011, Fairway opened two more locations: one on the Upper East Side of Manhattan, which opened on July 20, and the other in the Douglaston neighborhood of Queens, which opened on November 16. [9] In 2012, Fairway Market opened three more locations: in Woodland Park, New Jersey, on June 6; Westbury, New York, on August 22; and Kips Bay in Manhattan in late December. In 2013, Fairway Market opened a location in Chelsea, Manhattan, and another at The Shops at Nanuet shopping mall in Nanuet, New York. [10]
As of 2020, all but five of these Fairway stores have either closed or sold to other retailers, including Amazon. [5] The sequence of all stores is as follows:
In 2023, Fairway partnered with Instacart; launching a delivery service called Fairway Now that services three stores in the Manhattan area. [19]
In 2024, Village Supermarkets which acquired Fairway Market in 2020, opened a new store in Old Bridge, N.J. that features departments borrowed from Fairway Market's banners in New York City. [20]
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