Hugo Mann

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Hugo Mann
Born(1913-11-17)November 17, 1913
Laupheim, Germany
DiedDecember 20, 2008(2008-12-20) (aged 95)
Baden-Baden, Germany
ResidenceKarlsruhe, Germany, Europe & Russia
CitizenshipGermany
Net worth2.6 Billion
 
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Hugo Mann
Born(1913-11-17)November 17, 1913
Laupheim, Germany
DiedDecember 20, 2008(2008-12-20) (aged 95)
Baden-Baden, Germany
ResidenceKarlsruhe, Germany, Europe & Russia
CitizenshipGermany
Net worth2.6 Billion

Hugo Mann (November 17, 1913 – December 20, 2008) was a German businessman.

He was born in Laupheim. As a youth, Hugo Mann worked at his grandfather's shop in Karlsruhe where he started his own furniture business in 1938.

In 1950, Mann opened a larger store that turned out to be the key to his success. During the sixties, chain stores sprouted up across Germany. The brand Mann Mobilia for discount quality furniture was established in 1970.

Mann had started another business in 1958, the Wertkauf food store chains. Mann bought two-thirds of FedMart, a highly successful chain of department stores in the United States, in 1975. He subsequently fired founder Sol Price from FedMart and the store chain failed within seven years.[1] In 1989, Hugo Mann retired and handed the Wertkauf business over to his son Johannes. Wertkauf was sold to Wal-Mart in 1997. The Austrian Lutz group bought Mann Mobilia in 2005.

Notes

  1. ^ Markowitz, Arthur, "Discounting Hall of Fame: Sol Price: his deeds speak louder than words - founder of Price Club," Discount Store News, August 22, 1988, online at CBS bnet.