OTTO is the second biggest online retail destination in Germany and claims to be the biggest online retailer there for fashion and lifestyle products.
Otto marketplace sees online revenue soar up to €7.7 billion
Otto marketplace today announced full-year results which saw online revenue increase to €7.7 billion. That’s up 4.5% on the year-on-year (YoY) basis. The results for the financial year of 2018/19 are measured until the 28th of February 2019.
The marketplace puts down the growth to focus on “high investments in OTTO’s online platform and logistics infrastructure.”
The most revenue boost came from German sellers. The market revenue saw a boost to €5.3 billion. That’s 5.2% on the YoY rate.
“The new financial year has started in line with our expectations. We are planning on higher revenue growth than last year and a slight improvement in our operating result. Within this, we will be continuing our future-orientated investment programme and continuing to drive the digitalisation of our business models on all levels. We are confident that thanks to our strong value orientation, the Otto Group represents a genuine European alternative in global online commerce – and that our customers, employees and business partners will continue to reward this.”
– Alexander Birken, chief executive officer, Otto
Otto say that this year they’re focusing to make the platform an “ecosystem to external brands and retailers” by proving an attractive, fair and personal alternative to existing platforms, with a focus on home and living products.
Can you run a article on http://www.market.co.uk