Last week, Five Below officially announced that they would be opening a location in Milford this year. The new store will be constructed in the Milford Plaza Shopping Center, 654 N. Dupont Boulevard in Milford.
“We are excited about our new location,” Patrick, a customer service representative at Five Below, said. “The Milford Delaware location has a tentative Grand Opening date of October 31, 2025. This date is subject to change, as construction does have its hiccups!”
Although they did not release a suite number for Milford Plaza, it is likely they will move into the former American Legion post location as it is the largest available storefront in the shopping center.
Five Below was founded by David Schlessinger and Tom Vellios in 2002 in Wayne, Pennsylvania. The two men had a goal to create a store where young people could shop for trendy yet affordable items. Initially called Cheap Holdings, Inc., the name changed to Five Below, Inc. in August 2002. The initial plan was developed in a coffee shop and written on the back of a napkin.
The company went public in 2012 with annual sales reaching $500 million by 2013. The company faced some challenges with a few store closures during COVID, but have undergone rebirth with shipcenters and Five Beyond shops.
The concept focused on bringing high-quality products that appealed to pre-teens and teens at prices that were $5 or below. This concept has expanded significantly over the years, growing to over 1,700 stores across the country.
