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🠈  Trader Joe's  🠊

Trader Joe's

Trader Joe's is an expanding chain of grocery stores headquartered in Monrovia, Ca.

The company was founded in 1958 as Pronto Markets by Joe Coulombe as a chain of convenience stores. In 1967, the stores took on a South Seas theme and changed its name to Trader Joe's to differentiate itself in the market.

Theo Albrecht (1922 – 2010), the owner of Aldi Nord, purchased the chain in 1978. The Albrecth's organized the chain as a cross between a discount store and themed store and accelerated the store's expansion. There were 160 stores as of 2002 in 15 states and 367 stores in 30 states as of 2012. They had 474 stores in 2017. The stores are primarily in the Western US.

Aldi was founded in 1913 by Anna Albrecht (née Siepmann) as a small store in Essen which is German state of Westphalia. Her husband, Karl Albrecht, was miner.

Their son's Karl and Theo grew up running the store. Karl fought for the Germans in WWII. After the war, the family developed their discount strategy in post war Germany.

The two sons had a dispute on the issue of selling cigarettes in 1960. They chose the name ALDI in 1961 which is short for Albrecht Diskont and agreed to expand into different regions. Karl's chain was called Aldi Süd and Theo's chain was called Aldi Nord. Aldi Süd had 1752 US stores in 2017. They are primarily in the Eastern US.

The video talks about secrets at Trader Joe's. For example there is supposed to be a plastic lobster in each store.

Sources: Funding Universe, Wikipedia and Trader Joe's Timeline.

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