Otto Group’s online revenue grows 10% to €7 billion
Otto Group saw its revenue increase by 5 percent and once again ecommerce was the growth driver for the international retail and services group. Online sales increased by just under 10 percent and was worth almost 7 billion euros last year.
Otto Group shared the preliminary figures for the 2016/2017 financial year and things are looking well for the German company. Revenues from its over 100 online shops increased by around 10 percent compared to the year before. Its online retail branch was worth 6.3 billion euros in 2015, but it now worth almost 7 billion euros.
Otto’s online shops reach half of German households
“This means we were able to consolidate our position as the number two in Germany and one of the leading players in international e-commerce retail”, the company commented. In its home country, Otto Group saw the number of active customers reach 18.5 million, about 1 million more than the year before. “This means that the Group’s retailers are reaching almost half of all households in Germany.”
Online retailer Otto (not the Group) saw its revenue increase by 6 percent to 2.7 billion euros, mostly thanks to the fast-growing furniture and furnishings assortment. Fashion shop Bonprix also grew 6 percent and achieved an income of 1.5 billion euros last year. Parcel delivery company Hermes Group benefitted from growth in the ecommerce industry, raising revenue by around 5 percent to almost 1.6 billion euros.
In 2016, Otto Group decided to sell the ecommerce activities of 3SI Group. The French company has now successfully completed this announced sale.