Well-known German mail-order and e-commerce company is expanding its partner network in the region.
At the meeting with Croatian furniture manufacturers in Zagreb, Otto Group has announced that they will expand the list of their partners from Croatia and the region. Croatian furniture producers will get access to the market that covers four continents and includes over 40 countries, reports Poslovni.hr on April 30, 2016.
“Croatia has fantastic factories and furniture. In your country and in the region, because of the exceptional natural resources, there is a great potential and a great space for growth”, said Michael Otto, the Otto Group owner. They have been cooperating with Croatian manufacturers for more than two years, and becoming a part of the retail and distribution network of the Otto Group has brought about a business renaissance and expansion of exports to most of them. Germany is their most important market, followed by the rest of Europe, the United States, Russia and the Asian market, which is showing increasing potential.
The financial period that ended in February 2016 was remarkably successful for the Otto Group, with the turnover increase of more than 500 million euros, to 12.6 billion euros. The highest income growth has been recorded in Germany (5.5 percent) and the main engine of the overall growth were the online sales. They expect the income growth of four percent in the next 12 months. Although catalogue furniture sales did feel a drop in the purchasing power, and some of the most famous catalogue sellers closed down, Otto was successful in this segment as well.
Meanwhile, Croatia’s Prima Group announced that Michael Otto visited them on 28 April. They added that they were proud to be selected as a strategic partner and a supplier of the Otto Group in the region. With the cooperation with this prestigious partner, Prima will become available in the markets of about 40 countries in Europe, North America and Asia.
“Otto has seen first-hand the quality and innovative design of the newest models of the furniture from Prima’s export range of products”, they said, adding that this was an opportunity to present their guests with an insight into the possibilities for broadening an already successful cooperation.
