Name
Torsten Toeller
Torsten Toeller
Krefeld, Germany
Germany
pet food, Self Made
$1,200,000,000
1818
#1818 Billionaires 2019
Visiting the U.S. in the late 1980s, Torsten Toeller encountered pet supply superstores and decided the concept deserved a try in his native Germany.When he opened his first Fressnapf store in 1990, in Erkelenz, customers were, initially, unimpressed with his selection and prices.Toeller doubled down by selling his car to raise cash, invested in more inventory and went for broke with aggressive discounts. The gamble paid off, and in 1992 Fressnapf Tiernahrungs GmbH began opening franchise stores, paving the way for rapid growth.Today, with over 10,000 people working in approximately 1,400 stores in 12 countries, it's Europe's largest pet speciality chain.
Toeller has invested in an office building project called Mercator One in Duisburg, close to the company's headquarters in Krefeld. He is a car fanatic and former sailor.
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