The corporate Group Otto Group invests €50M in logistics network

The corporate group Otto Group, a leader of Russian market on online ware and shoes trading, announced about its intend to increase earnings of Russian business in the near few years up to €1B. For this purpose the Company will invest €50M in its logistics infrastructure development.

At the moment about half of the German Otto Group business is a share of online trading, and in future this segment will become priority for the group in Russia, stated at the meeting with journalists a Chief of Otto Group supervisory council Michael Otto. According to the Company itself, the amount of users in Internet in Russia has already reached 60 million people, including 26 million online customers.

Herewith the Company wants to increase the amount of business of Russian subdivision up to €1B (in 2012-2013 financing year the earnings in the Group in Russia increased 12% up to €547M; amount of the whole corporate group is €11,8B, the forecast for the current year is €600M). Storage areas for this purpose will be increased twice, and the same way will be developed regional network of ordering Parcel Shop-Network. By the year 2015 the Company plans to be widened up to 1 thousand in 150 cities.