Section-wise, About You also performed strongly, increasing revenue to €2 billion. However, Brand Concepts saw a 3.3 per cent revenue dip due to challenges in the US market, despite solid gains by Witt group and Crate and Barrel. The retailer segment declined by 4 per cent to down to €1.7 billion following strategic exits, while services grew by 12 per cent and financial services rose by 5.8 per cent, driven by the EOS group, Otto said in a press release.
“Despite the continuing and extremely tense geopolitical environment and the gloomy consumer sentiment we are still experiencing especially in Germany, our clear focus has enabled us to succeed not only in keeping revenues stable, but also in bringing the Otto Group clearly into the black at all earnings levels. We have faced up to the challenges of the market and coped with them very well. Of course, we are satisfied with what we have achieved over the past financial year. This has further 2 increased our financial stability and now allows us to look forward with a degree of optimism,” said Petra Scharner-Wolff, chairwoman of the executive board and chief executive officer (CEO) of Otto Group.
The Otto group has launched a new strategic agenda focused on customer needs, scaling core businesses like Otto, Crate & Barrel, and EOS, and expanding operations in Europe and North America. Aiming for greater financial freedom by 2030, the group is prioritising profitability, investment capacity, and technological competitiveness, especially through GenAI.
Significant IT and logistics investments have already enhanced efficiency. Mahbobeh Sabetnia joins the executive board to lead on technology and retail. Despite ongoing global uncertainties, the group targets stable revenue and increased profitability, maintaining its long-term, value-driven vision, added the release.
ALCHEMPro News Desk (SG)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
