Company type | Private |
---|---|
Industry | retail |
Genre | Mail order |
Predecessor | Otto Versand |
Founder | Werner Otto |
Headquarters | Hamburg , Germany |
Key people | Michael Otto |
Revenue | 14.3 Billion EUR (2019/2020)[1] |
Owner | Michael Otto |
Number of employees | 51′982 (2019/2020)[1] |
Subsidiaries | Crate & Barrel, bonprix, About You, 3 Suisses |
Website | www |
Otto GmbH & Co KG (doing business as Otto Group, stylized as otto group, formerly Otto Versand) is a German mail order company and one of the world's biggest e-commerce companies. Based in Hamburg, it 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]
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]
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 former owners of the Spiegel catalogue). Spiegel, Inc. 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.
Individual companies of the Otto Group: