A 4,000-square-meter hypermarket established the foundation for Cencosud, the holding company that Horst Paulmann Kemna built into the third-largest retail chain in Latin America. Throughout his tenure, he expanded his commercial influence from a single restaurant in Temuco to a multinational operation employing over 150,000 people across several countries.
Early Life and Migration
Born in 1935 in Germany, Paulmann was the son of Werner Paulmann, an SS-Obersturmbannführer, and Hilde Kemna. Following World War II, the family fled Germany in 1946, traveling through Italy before reaching Argentina in 1948. By 1950, they had settled in Chile. During his youth in Buenos Aires, Paulmann worked as a telephone operator and toy maker before the family purchased the Las Brisas restaurant in Temuco, which they converted into a supermarket.
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On 10 November 1978, Paulmann founded Cencosud, serving as chairman and CEO. The enterprise grew to include diverse holdings such as Jumbo, Santa Isabel, Disco, and Wong, alongside department stores like París and home improvement outlets like Easy. The firm eventually issued over 4.3 million credit cards and began trading on the Santiago Stock Exchange in 2004, followed by the NYSE in 2011. A primary architectural project associated with the company is the Costanera Center in Santiago, which features a 300-meter tower.
Controversies and Public Standing
Paulmann faced scrutiny regarding his father's historical associations and his own ties to the Colonia Dignidad settlement, where his stores once marketed goods produced on-site. Critics also noted his alleged support for Augusto Pinochet. Within his own companies, Cencosud encountered pushback regarding labor practices, specifically the maintenance of minimum wages, reports of workplace surveillance, and policies involving the aggressive prosecution of employee misconduct.
Professional Recognition and Succession
Over his career, Paulmann received numerous accolades, including the 2012 Ernst & Young World Entrepreneur of the Year award and the 2005 ICARE Entrepreneur of the Year. He also served as a director for various commercial chambers, including the Chilean–German Chamber of Commerce. Following his death in Germany on 11 March 2025, leadership interests transitioned to his children Manfred, Peter, and Heike, who represent the family as major shareholders.
Fast facts
- Born: 1935, Germany
- Died: 11 March 2025, Germany
- Net worth: US$2.3 billion (July 2022 estimate)
- Primary holding: Cencosud
- Citizenship: Chile
- Age at death: 89
Questions readers ask
Which countries does Cencosud operate in?
The company operates in Chile, Argentina, Colombia, Brazil, and Peru.
Who are the heirs to the business?
Manfred, Peter, and Heike Paulmann Koepfer represent the family in the board of directors agreement for succession.
