A tribute to Theo Albrecht
Posted by Dr. Terry Stoops at 09:26 AM
A sad report from the Associated Press,
Theo Albrecht, the secretive co-founder of Germany's worldwide discount supermarket chain Aldi, a co-owner of Trader Joe's in the United States and one of Europe's richest men, has died at age 88.Theo and his brother Karl created stores that allowed low and middle income families to purchase food (or a quantity/variety of food) that they, otherwise, would have been unable to afford. Without a doubt, Theo was a great entrepreneur. But it is just as appropriate to call him a great humanitarian.
Aldi carries a limited selection of fastest-selling, nonperishable consumer items, a strategy that allowed them to increase order volume, cut handling costs and waste, and buy their goods cheap — savings passed on to the consumer.
Aldi now has more than 4,000 outlets in Germany alone, where it is known for its no-frills shopping environment, streamlined processes and a limited range of discount products.
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