Otto Group, the parent company behind popular retail and logistics brands like Freemans, Grattan, Bonprix, and Quelle, has shown impressive growth in its most recent financial year despite the challenges posed by the ongoing pandemic. The company reported a 17.2% increase in comparable revenues, reaching €15.6 billion. Notably, its e-commerce revenue soared by 25.6% to €9.9 billion.

In Germany, Otto Group’s revenues reached €7 billion, with online revenues experiencing a remarkable growth rate of 24.1%, surpassing the country’s overall growth rate. The company’s success can be attributed to its ability to adapt quickly to the changing circumstances and capitalize on emerging opportunities. CEO Alexander Birken credited the company’s resilience and agility as crucial factors in its positive performance.

One of Otto Group’s core businesses, Otto, saw positive growth despite fluctuations in demand at the start of the financial year. The number of active customers exceeded 10 million, and revenues increased by 30.2% to €4.54 billion. Bonprix, a prominent fashion retailer operating in 30 countries, managed to maintain its revenues, while the Witt Group achieved a significant milestone by surpassing €1 billion in revenue for the first time. About You, a fashion and technology company, experienced rapid growth, with sales increasing by 56.9% to €1.17 billion.

Looking towards the future, Otto Group has set ambitious targets for the coming years. It aims to achieve substantial revenue growth, increase its earnings potential, and allocate higher investment volumes while maintaining a solid capital structure. Key areas for investment include technology and logistics efficiency within its existing strategic business sectors. Additionally, the company will focus on mergers and acquisitions as a central part of its growth strategy.

Sustainability is also a critical focus for Otto Group. The company has set a target for 65% of the fibers used in its products to come from sustainable sources by 2025. Furthermore, it plans to implement sustainable packaging and introduce labeling to identify sustainable products across all its group companies by 2022.

Although the ongoing pandemic will still impact Otto Group’s performance in the upcoming 2021/22 financial year, the company remains optimistic about the future. With vaccination campaigns progressing and pandemic-related restrictions easing, it anticipates a return to normal consumer behavior. Particularly, it expects sustained dynamic growth in e-commerce, especially in the clothing segment.

For more information on Otto Group and its portfolio of brands, please visit their official website here.

To learn more about the sustainability efforts of Otto Group, you can visit this link here.