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Billionaire otto beisheim louis vuitton uk commits suicide after suffering from incurable disease

“He was suffering from an chick here incurable disease and departed this life due to the hopelessness of his health situation,”Said a statement from the otto beisheim group.

Mass circulation daily bild said he committed suicide.

Founder of metro group, which now comprises 2200 retail outlets in 32 countries in europe, asia and africa, mr beisheim amassed a fortune estimated by forbes in its 2012 billionaires list at $us3.3 billion($3.2 billion).

According to forbes, he Louis Vuitton Handbags Outlet was the 344th richest person in the world and the 22nd wealthiest person in germany.

Mr beisheim brought the concept of cash and carry wholesaling, where retailers pick up goods themselves and pay for them immediately, to germany in the 1960s after witnessing its success in the united states.

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He set up the first cash and carry shop in muelheim an der ruhr, in western germany, in 1964 and almost instantly enjoyed a roaring trade.

He exported the concept first in europe,then worldwide,establishing the”CashAndcarry”,”Media markt”And”Real”Chains in countries Cheap Michael Kors Bags from china to france.

“Otto beisheim was a pioneer and a legend in the german and international retail world.With innovation, courage and ambition, he founded one of the world’s leading retail firms,”Metro true religion fringe vest said in a statement.

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