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. Hypermarket

    A hypermarket is a retail store that combines a department store ...
  2. Forbes

    Forbes is an American media and publishing company headed by ...
  3. Comps

    "Comps" is a buzzword that refers to a retail firm's comparable ...
  4. Amazon Effect

    The "Amazon effect" refers to the ongoing evolution and disruption ...
  5. European Sovereign Debt Crisis

    The European debt crisis refers to the struggle faced by eurozone ...
  6. Forbes 500

    The Forbes 500 was an annual list of the top 500 U.S. companies ...
Related Articles
  1. Insights

    Who Are Tesco's Main Competitors?

    Find out which companies compete with Tesco. Learn about each company's competitive strategy, and understand how the U.K. grocery market is changing.
  2. Investing

    Wal-Mart ‘Under Siege’ by Amazon, Aldi: Cowen

    Head of Cowen & Co.'s equity sales trading indicates that WMT is expensive at current levels.
  3. Insights

    Dollar Stores Are Hit By Wal-Mart's New Strategy

    Dollar General and Dollar Tree are feeling the effects of Wal-Mart's push into their discount territory, which does not bode well for the future.
  4. Investing

    Kroger Takes on Lidl Over Trademark Infringement

    Kroger sues Germany's Lidl for too-similar product names just weeks after it arrived in U.S.
  5. Investing

    5 Retailers Set to Close More Stores in 2016 (FINL, GPS)

    Discover retail stores that have already announced plans to close stores in 2016. Some expect a new economic downturn, which may lead more stores to close.
  6. Investing

    99 Cents Only Stores Profits Edge Up

    Dollar retailer 99 Cents Only increased revenue and profits despite product-cost increases.
  7. Investing

    Top 5 Grocery Stocks of 2016 (KR, WFM)

    Learn why grocery stocks are often overlooked by investors. Explore five grocery companies that may be suitable defensive plays for an investor’s portfolio.
  8. Investing

    Dollar General to Add a New Distribution Center

    Dollar General (NYSE: DG) has been one of the major success stories during a challenging period for many retailers. While a significant number of other chains are getting smaller or closing up ...
  9. Insights

    19 Retailers Are Shedding Stores So Far in 2017

    As consumers increasingly spend money on restaurants and travel, mall-based retailers feel the pinch.
  10. Investing

    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 ...
RELATED FAQS
  1. Who are Whole Foods' main competitors?

    Whole Foods' main competitors are Sprouts Farmers Markets and Trader Joe's. However, the recent acquisition by Amazon may ... Read Answer >>
  2. Who are Target's (TGT) main competitors?

    Take a look at the battle of discount retailers. How Target is different from its competitors such as Walmart and Costco. Read Answer >>
  3. Value chain analysis: What are the advantages and disadvantages?

    Learn about the five activities that make up a generic value chain, and understand the advantages and disadvantages of value ... Read Answer >>
  4. What risks does an entrepreneur face?

    Entrepreneurs have the privilege of building companies they believe in while reaping the fruits of their labor, which can ... Read Answer >>
  5. Who coined the term "entrepreneur"?

    Entrepreneur is a French word coined by an economist, Jean-Baptiste Say, and usually is translated as "adventurer." Read Answer >>
  6. How do central banks impact interest rates in the economy?

    Learn how central banks such as the Federal Reserve influence monetary policy in the economy by increasing or decreasing ... Read Answer >>
Trading Center