Otto Group’s online revenues €8.1 billion in 2019
The Otto Group saw its global online revenues increase to 8.1 billion euros in the 2019/2020 financial year. This is an increase of over 5 percent compared to the situation one year before.
In 2018, the Otto Group saw its ecommerce sales be worth 7.7 billion euros. Now, it has increased again. Also in its home market Germany, where revenues were worth approximately 5.6 billion euros (5.3 billion in 2018).
Targeted investments in focus companies
According to the company, it’s especially the so-called focus companies within the Otto Group that perform well. “The Otto Group is making targeted investments in selected own businesses – called focus companies – with particularly promising growth and earnings potential”, its says in the press release.
In the multichannel retail segment of the Otto Group these focus companies include Otto, Crate&Barrel, Bonprix, the Witt Group, About You and the Mytoys Group. In this segment, online revenues grew 11 percent.
Online revenue growth:
|The Otto Group (global)||5.5%|
|The Otto Group (Germany)||6%|
|The Witt Group||13%|
“This very healthy ecommerce growth at our focus companies shows we are on the right track and that our efforts are paying off”, says Sebastian Klauke, member of the Otto Group executive board. “The technological challenges and demands on us as a retailer are major – and will stay that way. Considering this, our sustained growth in the face of fierce competition makes me optimistic about our future.”
This very healthy ecommerce growth shows we are on the right track.