Karl Albrecht

DEFINITION of 'Karl Albrecht'

The German billionaire entrepreneur who founded discount supermarket chain Aldi and one of the richest people in the world according to Forbes. As of 2010, Aldi had more than 4,000 stores in Germany plus another 8,000-plus stores in Australia, France, Great Britain, Greece, Poland, Portugal, Spain, Switzerland and the United States amongst other countries. It's biggest competitor is another German discount supermarket chain, Lidl.

BREAKING DOWN 'Karl Albrecht'

In addition to groceries, Aldi also sells skin care products and some household items. Aldi primarily sells its own brand of products. Other ways the store keeps costs down include charging customers for shopping bags, not accepting credit cards or charging a fee to accept them and using a coin-machine system to lend shopping carts to consumers so they will return them to the store.

RELATED TERMS
  1. Store Of Value

    Any form of commodity, asset, or money that has value and can ...
  2. Financial Supermarket

    An institution or company that offers a wide range of financial ...
  3. Ingvar Kamprad

    The billionaire founder of Swedish furniture store giant IKEA, ...
  4. Base Year

    The first of a series of years in an economic or financial index. ...
  5. Big Box Retailer

    A retail store that occupies an enormous amount of physical space ...
  6. Data Mining

    A process used by companies to turn raw data into useful information. ...
Related Articles
  1. Investing

    Grocery Wars: Who Will Win in 5 Years?

    Grocery stores have been slowly transitioning to become the kind of grocery stores that Millennials want and need.
  2. Managing Wealth

    Top 6 Most Successful European Entrepreneurs

    Understand what makes European entrepreneurs successful. Learn about six European entrepreneurs who have found great success in terms of their net worth.
  3. Personal Finance

    Are Dollar Stores Really A Bargain?

    It's hard to resist an item that's $1. We tell you when you should fight the urge.
  4. Personal Finance

    Store Credit Card Traps To Avoid

    Retail credit cards may seem like a good idea, but they can create enormous debt problems in the future.
  5. Markets

    Wal-Mart Closes 269 Stores: Why Wal-Mart Express Failed

    Wal-Mart is closing 269 stores from its portfolio to further streamline its operations.
  6. Markets

    Can Shopping Malls Survive This Trend?

    Are we coming to the end of an era for the shopping mall as we know it? If department store chains were to act on the conclusions of a recent report from Green Street Advisors, many malls might ...
  7. Personal Finance

    10 Reasons Why Online Grocery Shopping Is Failing

    Although some companies still continue to develop offerings, observers ponder the question: Why does online grocery shopping continue to fail?
  8. Markets

    The 6 Most Profitable Grocery Stores (WMT, KR)

    These are the six largest grocery store chains operating in the United States.
  9. Personal Finance

    How Grocery Price Matching Can Save You Money

    Don't waste your time and gas money traveling from store to store. Instead, use price matching to get every store's lowest prices.
  10. Markets

    Famous Chains That Began As Mom-And-Pop Stores

    Even the largest chains in the world started with a single location. Here are examples of famous brands that have humble beginnings as mom-and-pop stores.
RELATED FAQS
  1. What is the difference between supply chain management and value chain management ...

    Discover what the principal differences are between utilizing a supply chain management system and a value chain management ... Read Answer >>
  2. Who are Whole Foods' (WFM) main competitors?

    Learn more about Whole Foods Markets, who insists its products are sustainable. Thanks to the competition, however, its marketing ... Read Answer >>
  3. Who are Rite Aid's (RAD) main competitors?

    Learn about Rite Aid Corporation, the third-largest drugstore chain in the United States, and its major competitors in the ... Read Answer >>
  4. Who are Target's (TGT) main competitors?

    Learn more about the discount retailer Target and its competitors. Find out some of the things discount retailers do to increase ... Read Answer >>
  5. What are some advantages and disadvantages of value chain analysis?

    Learn about the five activities that make up a generic value chain. Understand the advantages and disadvantages of value ... Read Answer >>
  6. Is Germany a developed country?

    Find out how Germany fares in terms of economic strength and its standard of living, and understand why it is considered ... Read Answer >>
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center