How Aldi's frugal, reclusive founders turned a corner grocery store into a $38 billion fortune (via CNBCMakeIt)
It's an empire that has made its founding family multibillionaires.
Yet Aldi had truly humble beginnings: It started as just a tiny shop in a German suburb run by two reclusive brothers with a knack for thriftiness.German grocery chain Aldi in 1946 in the aftermath of World War II. They reportedly inherited their first store from their mother, who had opened the small grocery store in 1913 in a suburb of the German city of Essen. Both brothers were conscripted to fight for Nazi Germany during World War II , but they returned home after the war and took over the shop, which had survived the bombs dropped on the city.
An image dated 1930 of employees of Karl Albrecht Spiritousen and Lebensmittel shop in Essen, Germany.Looking to reduce waste and costs amid the ruins of post-war Germany, the brothers established a no-frills model at their discount store, selling only non-perishable goods at cheap prices from the small, nondescript shop. The brothers refused to spend money on advertising or in-store decorations, and they ruthlessly removed poor-selling items from their inventory.
After expanding internationally across mainland Europe, the first Aldi store opened in the US, in Iowa,, with Karl's Aldi Sud expanding throughout the Midwest and Eastern regions of the U.S. over the subsequent decades. In 1979, Theo's Aldi Nord bought a small California grocery chain called Trader Joe's reportedly because liked the chain's commitment to low prices and the stores' loyal customer base,Today, Aldi's popularity has exploded in the U.S.
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