Costco’s new CEO, who started as a forklift driver at the company at age 17, considers one of the wholesale giant’s products to be its most valuable — and it’s not the famous hot dog deal or the rotisserie chickens.
It’s the Costco membership card.
Costco CEO Ron Vachris, who became the chief executive in January after more than 40 years with the company, told Fortune that “everything” Costco does supports its membership.
“The most important item we sell is the membership card,” Vachris told the publication.
Costco membership card check. (Photo by Kena Betancur/VIEWpress)
The membership card is essential to Costco’s bottom line. It comprised 73% of the company’s total income last year,
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