H. P. Wasson and Company facts for kids
| Department store | |
| Industry | Retail |
| Fate | Closure due to business decline as a result of change of ownership |
| Founded | 1874 |
| Founder | Hiram P. Wasson |
| Defunct | 1980 |
| Headquarters | Indianapolis, Indiana |
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Number of locations
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7 (at its height in 1967) |
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Area served
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Central Indiana |
| Products | men's, women's and children's clothing, footwear, jewelry, beauty products, bedding, housewares and home furnishings. |
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H. P. Wasson & Company Building
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 Location in Indianapolis
Location in Indianapolis
Location in Indiana
Location in the United States
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| Location | 2 W. Washington and 2 N. Meridian Sts., Indianapolis, Indiana |
| Area | less than one acre |
| Built | 1937 |
| Architect | Rubush & Hunter; Graham, Anderson, Probst, & White |
| Architectural style | Art Deco |
| NRHP reference No. | 97001539 |
| Added to NRHP | December 24, 1997 |
H. P. Wasson and Company, often called Wasson's, was a popular department store chain. It started in Indianapolis, Indiana. Hiram P. Wasson founded the company. Its main store, the H. P. Wasson & Company Building, was built in 1937. This building is now a historic landmark. It is listed on the U.S. National Register of Historic Places.
Contents
A Store is Born: Early Years
Hiram P. Wasson started his business in 1874. He bought a store called the Bee Hive Drygoods Store. Nine years later, in 1883, he changed its name. It became H. P. Wasson and Company.
After Hiram P. Wasson passed away in 1910, his son Kenard took over. Sadly, Kenard also passed away in 1912. The store was then sold to Gustave A. Efroymson and Louis P. Wolf.
Gustave A. Efroymson was the company's president from 1912 to 1930. Under their leadership, Wasson's grew. The main store was located at 2 West Washington Street in downtown Indianapolis.
Growing Bigger: New Locations
In 1930, Wasson's opened a second store. This new store was built on Monument Circle. It was on the spot where the Morton Hotel used to be.
After the Korean War, shopping habits began to change. Many new homes were built in the suburbs. People wanted stores closer to where they lived. Wasson's started building new stores in these growing areas. They opened stores in outdoor shopping centers.
By the early 1960s, more shopping centers and enclosed malls were being built. Wasson's expanded beyond Indianapolis. They opened stores in Kokomo, Anderson, and Bloomington. Some of their outdoor shopping centers, like the one in Eastgate and Kokomo, later became enclosed malls.
Changes in Ownership
In 1963, Louis C. Wolf became the new president. His father, Walter E. Wolf, retired but stayed on as CEO. Sadly, Louis C. Wolf died in a plane crash in 1967. He was only 40 years old.
After his death, his family decided to sell the company. In October 1967, Goldblatt's of Chicago bought Wasson's. At this time, Wasson's had seven stores. Three were in Indianapolis-area shopping centers. The others were in Kokomo, Anderson, and Bloomington.
The sale to Goldblatt's did not go well. Wasson's served middle-class customers. Goldblatt's was a discount department store. They had different types of customers. Under Goldblatt's, the quality of Wasson's products went down. Goldblatt's also did not open any new Wasson's stores. They did not move stores into the newer, bigger malls around the city.
The End of an Era
Wasson's started losing a lot of money. In December 1979, Goldblatt's sold the downtown store. They also sold other property around Monument Circle. Melvin Simon and Associates bought them for $2.25 million. Goldblatt's then began closing the Indianapolis stores.
In September 1980, Goldblatt's announced more closures. They planned to close the Anderson and Bloomington stores. These closures were to save money. Goldblatt's had been losing money for three years.
The Bloomington store at College Mall closed in January 1981. It had been one of the first main stores in that mall when it opened in 1965.
On February 27, 1981, Goldblatt's made another announcement. The very last Wasson's store would close the next day. This was the Kokomo store. It had opened in 1963 and was the first Wasson's store outside of Marion County.
The Historic Building
The main Wasson's store was a nine-story building. It was located at 2 West Washington Street. The building has an Art Moderne style. In the early 1980s, it was changed into a mix of shops and offices.
The famous Indianapolis architecture firm Rubush and Hunter designed the main store. It was built in 1937. A special thing about the Washington Street store was its upper floors. They had no windows! With new fluorescent lights, windows were not needed anymore.
In 1997, the Washington Street location was added to the National Register of Historic Places. This means it is a very important historic building.
Wasson's also had an annex building on Monument Circle. This building burned down in 1969. A park was later built in its place. In 1998, a new building for Emmis Communications was built there.
Did you know? Wasson's Credit Union opened in October 1923. It was the very first credit union in Indiana and in the Midwest!
Wasson's had several competitors in Indianapolis. These included L. S. Ayres, L. Strauss & Co., and William H. Block.
