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| Otto Beisheim |
Berlin, March 18: Otto Beisheim, who revolutionised retailing in post-war Germany by introducing the concept of selling wholesale goods directly to customers and the builder of the country’s largest retailer, Metro, was found dead today at his home in Bavaria. He was 89.
Beisheim, who had been suffering from an incurable illness, committed suicide, his foundation, the Otto-Beisheim Group, said.
Beisheim, who was said to have amassed a fortune of $3.3 billion, was intensely private and rarely seen in the public eye. Even at his company’s shareholders’ meetings, he was reported to have shown up on occasion masquerading under the name Müller.
Beisheim founded Metro in 1964 and continued to hold a 10 per cent stake. It is now the third-largest retailer in Europe, behind Carrefour of France and Tesco of Britain. Like Sam’s Clubs and Costco in the US, Metro stores sell only to members. The son of a caretaker, Beisheim was born on January 3, 1924, near Essen, Germany. His family was too poor to pay for him to attend high school, so he became a leather tradesman.
As a wealthy man, he later donated widely to schools.
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