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.
[snip]
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.
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.
