Otto Group - statistics & facts
The German economy faced a tough year in 2023, and so the question remains how did companies fair? The Otto Group, with headquarters in Hamburg, is an internationally operating trade and service group, with around 100 companies established in over 30 countries. Despite being one of the most successful German e-commerce companies it also faced difficulties, making the largest loss since 2006/07 at 413 million euros. This could be attributed to the fact that many consumers have had to tighten their purse strings and therefore cut back on online shopping. The company’s overall revenue, however, did increase slightly compared with the fiscal year 2021/22.
