Karl Wlaschek Retail billionaire. Date of Birth: 04.08.1917 Country: Austria

Biography of Karl Wlaschek

Karl Wlaschek, a billionaire in the retail industry, is one of the most prominent Austrian entrepreneurs. He was born on August 4, 1917, in Vienna, Austria. After the end of World War II, Wlaschek pursued a career as a pianist, playing in various nightclubs and prestigious hotels. At that time, he had no aspirations of becoming a businessman.

The idea of entering the business world arose after Wlaschek got married. His wife owned a shop, which they jointly transformed and laid the foundation for their business. Wlaschek always had his own perspective on retail trade. His fundamental principle was, and still is, based on the belief that retail trade only works if the prices of products are competitive, meaning lower than those of competing companies. This constructive concept proved successful and fulfilled Wlaschek's expectations, allowing him to significantly expand his own trading company.

Wlaschek's stores are called "Billa," which means "Cheap Store" in English. The name was given to the retail chain in 1960, seven years after the first store was established (initially, the chain was called WKW - Warenhandel Karl Wlaschek). Wlaschek's store chain grew rapidly, and soon the company's revenue reached billions of Austrian schillings.

In 1987, Wlaschek's company became one of the largest in the Austrian market. The turnover of the grocery and household goods stores reached 18 billion schillings annually during that period. By 2002, Wlaschek's company held 32.8% of the country's total market share. Currently, approximately 7,000 people work in Wlaschek's stores.

Wlaschek invests his income in real estate and is now one of the largest property owners in Austria. He owns the five-star Radisson Hotel in Salzburg, the Vienna Stock Exchange building (which is of historical value), and four Viennese palaces. Wlaschek is currently a widower with two children and enjoys spending his free time at the antique cafe, Cafe Central, which he personally restored.

Recently, Wlaschek published a memoir titled "Karl Wlaschek: A Success Story."