Otto GmbH

The Otto Group, or Otto GmbH & Co KG (formerly Otto Versand), is a German mail order company and currently one of the world's biggest e-commerce companies. It is based in Hamburg, and operates in more than twenty countries.[1] Otto is primarily a retail e-commerce company, and as a shareholder, it also operates in e commerce services. The Otto group has expanded into real estate and financial services.[2]

Otto GmbH & Co KG
Private
GenreMail order
PredecessorOtto Versand
Headquarters
Hamburg
,
Germany
Key people
Michael Otto
Revenue500,000 euro (2016) 
OwnerMichael Otto
Number of employees
49,787 (2016) 
SubsidiariesCrate & Barrel, bonprix, About You, 3 Suisses
Websitewww.ottogroup.com

In France, Otto claims to be the leading e-commerce business through 3 Suisses. In June 2013, Otto executed a full takeover to become its only shareholder.[3]

Otto Group, a family business

The family of executive board chairman Michael Otto owns the majority of the company. The company is based in Hamburg, Germany. It was founded by Werner Otto in 1949.[4] The first catalogue was hand produced offering twenty eight styles of shoes. During the 1950s, the product range business volume expanded. Otto introduced telephone orders in 1963, and launched an online shopping website in 1995.[5]

Michael Otto was the former owner of Spiegel, Inc., (the parent company of Eddie Bauer and the former owners of the catalogue Spiegel). It filed for bankruptcy on 17 March 2003. On 25 May 2005, Spiegel, Inc., emerged from bankruptcy renamed Eddie Bauer Holdings, and was primarily owned by Commerzbank.

Subsidiaries

Individual companies of the Otto Group:

References
  1. Manning, C. J. "Catalog Shopping". HowToGermany.com. Retrieved 2010-07-24.
  2. "Otto & Family". Forbes. Retrieved August 8, 2016.
  3. News, Ecommerce. "Otto wants to buy e-commerce assets of 3SI". Ecommercenews.eu. Retrieved 2013-07-08.
  4. "Information about Otto GmbH". Meingutscheinecode. 7 September 2016. Retrieved 2016-09-07.
  5. http://www.theolympian.com/2011/12/27/1926895/german-industry-mogul-werner-otto.html%5B%5D


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.