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Otto Group Expands in Russia

Files under: News
Posted by: Quintura @ 07:11 [14. 12. 09]

The Otto Group, the world’s largest mail order business group and second largest in B2C e-commerce, has acquired the remaining 30 percent shares in mail order fashion retail joint-venture Direct Catalog Service and remaining 10 percent shares in mail order business Na Dom, according to Vedomosti.ru. The shares were acquired from Direct Group, which set up the joint-venture in 2006. Last month, Germany’s Otto Group strengthened its leading position in distant selling and mail order business in Russia by buying out the Russian business of Quelle of Germany. Otto Group operates online shopping brands Otto, Bonprix, and others.

Founded in 1996, Direct Group is headed by Pascal Clement and is a leader in market expansion services in Russia. Direct Group has founded the leading Russian women-centric site WomanJournal.ru. It also invested in leading Russian online shopping club KupiVIP.ru.

In November 2009, Otto Group paid EUR 65 Million to take over the Russian mail order business of Quelle of Germany, Mail Order Service, with annual revenues of EUR 170 million. Otto Group reported annual revenues of some EUR 200 million in Russia.

Last month, the German publisher Axel Springer took over the Russian publishing business of Gruner+Jahr (G+J) of Germany.

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