Aldi Stores Ireland Pays Tribute To Karl Albrecht
Published on Jul 22 2014 5:01 AM in Retail
Aldi Stores Ireland has paid tribute to the founder of the Aldi organisation, Karl Albrecht, who has passed away at the age of 94.
In a statement, the retailer said that the Irish arm of the discount retailer "continues to embody the founding principles on which Karl Albrecht built a business focused on meeting the needs of customers. Aldi Stores (Ireland) joins the rest of the Aldi South Group in paying respects to Karl Albrecht and extending their sympathies to his family."
Albrecht, who died on 16 July, is credited with establishing Aldi "as the leading, global company it is today." From 1948 onwards, the stores that he created alongside his brother Theo (who died in 2010) "became the epitome of discount retailing in Germany and set new standards for an entire distribution system."
The statement added: "As far back as 1973, Karl Albrecht ensured the continued existence of the group after his death: the Aldi South group's assets are controlled by two foundations which ensure the successful continuation of his life’s work. As a result of its solid financial position, the group has maintained its independence, which will be preserved into the future."