Joe Coulombe
Encyclopedia
Joe Coulombe is an American entrepreneur. He is a graduate of Stanford University
and is a member of Alpha Kappa Lambda
. He founded the grocery store chain Trader Joe's
in 1967.
After earning his MBA in 1954, he joined Rexall
and was asked to test the launch of a store brand to compete against 7-eleven
, Pronto Markets. After running six Pronto Markets in the Los Angeles
area, Rexall asked Coulombe to close them down. The young entrepreneur decided to buy them out instead.
After a decade of refining his strategy in a competitive environment, Coulombe created Trader Joe's in Pasadena
in 1967. He led the chain to success and sold it to German billionaire Theo Albrecht
in 1979. Coulombe continued with Trader Joe's as chief executive until retiring in 1988.
Since then, he has served on boards of various companies, most recently Cost Plus and True Religion Apparel. In 2000 Los Angeles magazine named him one of 10 almost famous Angelenos who helped shape the city’s culture.
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
and is a member of Alpha Kappa Lambda
Alpha Kappa Lambda
Alpha Kappa Lambda is an American collegiate social fraternity for men founded at the University of California, Berkeley, in 1914...
. He founded the grocery store chain Trader Joe's
Trader Joe's
Trader Joe's is a privately held chain of specialty grocery stores headquartered in Monrovia, California. , Trader Joe's had a total of 365 stores. Approximately half of its stores are in California, with the heaviest concentration in Southern California, but the company also has locations in 30...
in 1967.
After earning his MBA in 1954, he joined Rexall
Rexall
Rexall was a chain of North American drugstores, and the name of their store-branded products. The stores, having roots in the federation of United Drug Stores starting in 1902, licensed the Rexall brand name to as many as 12,000 drug stores across the United States from 1920 to 1977...
and was asked to test the launch of a store brand to compete against 7-eleven
7-Eleven
7-Eleven is part of an international chain of convenience stores, operating under Seven-Eleven Japan Co. Ltd, which in turn is owned by Seven & I Holdings Co...
, Pronto Markets. After running six Pronto Markets in the Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
area, Rexall asked Coulombe to close them down. The young entrepreneur decided to buy them out instead.
After a decade of refining his strategy in a competitive environment, Coulombe created Trader Joe's in Pasadena
Pasadena, California
Pasadena is a city in Los Angeles County, California, United States. Although famous for hosting the annual Rose Bowl football game and Tournament of Roses Parade, Pasadena is the home to many scientific and cultural institutions, including the California Institute of Technology , the Jet...
in 1967. He led the chain to success and sold it to German billionaire Theo Albrecht
Theo Albrecht
Theodor Paul Albrecht , generally known as Theo Albrecht, was a German entrepreneur, who in 2010 was ranked by Forbes as the 31st richest person in the world, with a net worth of $16.7 billion. He owned and was the CEO of the Aldi Nord discount supermarket chain. In the US he owned the Trader Joe's...
in 1979. Coulombe continued with Trader Joe's as chief executive until retiring in 1988.
Since then, he has served on boards of various companies, most recently Cost Plus and True Religion Apparel. In 2000 Los Angeles magazine named him one of 10 almost famous Angelenos who helped shape the city’s culture.