Tue, 9 February 2010
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Browsing through the Forbes 200 Richest list - wondering idly how long the list would have to be before it got to me - it was interesting to see the first people to break a United States monopoly on the top five are two German brothers. 
If you have been in Germany for any length of time you are likely to have contributed to the USD 25 billion that Theo and Karl Albrecht have squirreled away.
The Albrecht name may not be familiar but the trade name of Aldi's is.
Aldi's supermarkets are part of the retail landscape across Germany - and can now be found from Ireland to Australia.
Aldi's has been celebrated in this column before for lowering the already subterranean standards of German supermarkets.
Aldi's stores are laid out with the care and flair of a warehouse. Staff are virtually non-existent and the only assistance they offer customers is an occasional snappy demand to hurry up.
Everything is obnoxious about Aldi's, except the prices.
The brothers Albrecht developed their retailing formula from a single family store which they took over in the smoking ruins of the Rhur valley in 1945.
They worked hard and built some success, but their breakthrough came in the early 1960's when they hit on their formula of 'hard discount.'
The formula involved selling a small range of goods, very cheaply. Most are sold as 'home brands' and the brothers Albrecht drove unprecedentedly hard bargains with brand name suppliers.
Not long ago they were the first retailers to force the breakfast food giant Kellogg's to supply their trusty Corn Flakes and other cereals for sale under an Aldi's label.
The brothers, Theo and Karl, built their empires separately but in co-operation. They initially split Germany, Theo took the north and Karl the south. Later they divvied up the world.
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