Aldo Bensadoun

Early life

Aldo Bensadoun was born in 1939 in Morocco into a lineage of shoe merchants. His father owned a shoe store while his grandfather was a cobbler in Algeria. He moved to the United States for his education, where he earned a degree in economics from Cornell University in 1961. Bensadoun moved to Montreal, Canada, after his graduation, where he further explored his passion for fashion and his family’s history in shoe retailing.

Aldo Bensadoun has been married twice in his lifetime. His first marriage was to a Scottish Protestant woman, with whom he shares two sons, David (born in 1970) and Douglas (born in 1973). His second union is with Dianne Bibeau, and together, they are parents to their daughter, Daniela, born in 1991. David, Aldo’s firstborn, is presently the CEO of the Aldo Group and is married to Isabelle Poirier.

In a notable achievement, Aldo’s son David, teamed up with Patrick Beaule in 2012, made history as the first Canadian four-wheel team to successfully complete the challenging Dakar Rally.

Career

In Montreal, Aldo Bensadoun began his career in the shoe business by working at Yellow Shoes, a local shoe company, to understand the intricacies of the trade. After gaining sufficient experience, he went on to found the ALDO Group in 1972. Initially, the ALDO Group was a concession within Le Chateau stores. But in 1978, Aldo separated from Le Chateau and opened the first independent ALDO store in Montreal.

After wrapping up his mandatory French military service and taking on a short gig as an economics professor, Bensadoun found himself drawn back to the place he loved the most – Montreal. This was when he launched Aldo, starting out as a shoe stand within Le Chateau, a popular department store.

Fast forward to 1993, and Aldo had successfully broken into the American market, a notoriously challenging feat for Canadian businesses. By the time Aldo was celebrating its 40th birthday in 2012, the brand was raking in an impressive estimated revenue of $1.8 billion.

What sets Aldo apart is its approach to design, production, and delivery. The brand takes only a few weeks to complete this cycle, ensuring customers always have access to the most fashionable styles at pocket-friendly prices. It operates on a vertically integrated model, meaning it handles everything from design to distribution and manufacturing.

This lets Aldo bring the freshest designs to the market faster and bypass middlemen in distribution and production. Today, Aldo’s business empire includes multiple brands and a white-label operation that creates footwear for big-name department stores like Kohl’s and JCPenney.

Aldo does more than shoes – they also create handbags and accessories. They have a unique standout design and on-trend development that keeps them at the top of the industry and in keeping with the times.

Their values are a huge part of their brand. The company is dedicated to making a significant impact, not just in the realm of fashion but in the wider world. They commit to doing good, not just creating goods that look appealing. They foster an environment of acceptance, celebration, and love for all individuals, irrespective of their backgrounds.

The company holds a steadfast belief in endorsing diversity, equity, and inclusion throughout its operations. It takes pride in acknowledging and celebrating the social, cultural, and political accomplishments of all communities.

The guiding values of Aldo Group – Love, Respect, and Integrity – are clearly evident in their endeavors and team efforts. They strive to make these values resonate through their work, fostering a more inclusive, equitable, and respectful world. The building blocks were started by Aldo himself, and his vision for his company is still shining through today.

The ALDO Group, under Bensadoun’s visionary leadership, quickly gained a reputation for its high-quality, fashionable footwear and exceptional customer service. This led to significant growth, with ALDO stores opening across Canada and eventually expanding into the international market. As of 2021, ALDO Group operates over 3,000 stores in 100 countries worldwide.

Aldo Bensadoun stepped down as CEO of the ALDO Group in 2017, passing the reins to his son, David Bensadoun. However, he remains involved in the company as a member of the board.

The Aldo Group remains a private company, with Bensadoun continuing as its owner.

Net Worth

As of 2023, Bensadoun’s net worth is estimated to be around $1.2 billion. This wealth is primarily derived from the success of the ALDO Group, which has grown into a global leader in footwear and accessories retail.

Achievement

Aldo Bensadoun’s success story in the retail industry has earned him several awards and recognitions. Some of his notable achievements include being inducted into the Canadian Footwear Industry Hall of Fame in 1995 and the Retail Council of Canada Hall of Fame in 2003.

He also received the Humanitarian Award from the Two Ten Footwear Foundation in 2002 for his philanthropic efforts and support for numerous charities and community projects. In 2017, McGill University established the Bensadoun School of Retail Management in recognition of a significant donation from Bensadoun to enhance education and research in the retail industry.

Honours include:

Recipient of the Order of Canada

Recipient of the National Order of Quebec

Recipient of the Ordre de Montréal