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.[2] 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.[3]

Otto GmbH & Co KG
Private
GenreMail order
PredecessorOtto Versand
FounderWerner Otto
Headquarters
Hamburg
,
Germany
Key people
Michael Otto
Revenue14.3 Billion EUR (2019/2020) [1]
OwnerMichael Otto
Number of employees
51′982 (2019/2020) [1]
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.[4]

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.[5] 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.[6]

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:

gollark: It's "lazor". People just can't spell these days!
gollark: Which is probably good because of all the UTTER dodecahedra just randomly trying to ping everyone for "important" announcements they found.
gollark: Not for normal users, no.
gollark: > certified hacker
gollark: Very shiny.

References
  1. "Annual Report 2019/20" (PDF). Retrieved 13 July 2020.
  2. Manning, C. J. "Catalog Shopping". HowToGermany.com. Retrieved 2010-07-24.
  3. "Otto & Family". Forbes. Retrieved August 8, 2016.
  4. News, Ecommerce. "Otto wants to buy e-commerce assets of 3SI". Ecommercenews.eu. Retrieved 2013-07-08.
  5. "Information about Otto GmbH". Meingutscheinecode. 7 September 2016. Retrieved 2016-09-07.
  6. http://www.theolympian.com/2011/12/27/1926895/german-industry-mogul-werner-otto.html%5B%5D


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