Five Below, Inc.
Explore Five Below
Core profile pages, annual revenue records, and related research hubs for this company.
Founders
David Schlessinger, Tom Vellios · Founded 2002 · Philadelphia, Pennsylvania
Quick Answer
Five Below was founded by David Schlessinger, Tom Vellios in 2002 in Philadelphia, Pennsylvania. The company is currently led by Winnie Y. Park.
David Schlessinger and Tom Vellios incorporated the company in January 2002 as Cheap Holdings and changed the name to Five Below in August 2002. The idea was simple but powerful: create a place where young customers could say yes to a wide range of fun products because most items cost $5 or less.
Retail entrepreneur and co-founder of Five Below.
Schlessinger co-founded Five Below after earlier specialty retail experience and helped shape the company's youth-oriented value-store concept.
Retail operator and co-founder of Five Below.
Vellios co-founded Five Below and helped develop the store prototype, merchandising approach, and early expansion model.
Winnie Y. Park
President and Chief Executive Officer
Park joined Five Below in December 2024 to lead the next phase of store growth, merchandising reset, digital capability, and operating discipline.
David Schlessinger
Co-Founder
Schlessinger co-founded Five Below and helped establish the value-led youth retail concept.
Tom Vellios
Co-Founder and Former Executive
Vellios helped build the early operating model, merchandising style, and store expansion strategy.
Joel Anderson
Former President and CEO
Anderson led a major national store expansion period before stepping down in 2024.
Five Below was founded in 2002 by David Schlessinger and Tom Vellios. The company opened its first store in the greater Philadelphia area and built a specialty value format around products mostly priced at $5 and below.
David Schlessinger and Tom Vellios incorporated the company in January 2002 as Cheap Holdings and changed the name to Five Below in August 2002. The idea was simple but powerful: create a place where young customers could say yes to a wide range of fun products because most items cost $5 or less.
Five Below was founded in 2002 in the Philadelphia area by David Schlessinger and Tom Vellios.