Michael Otto & family – Retail & Mail Order – Germany

 

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Michael Otto & family – Retail & Mail Order – Germany

 

Main Page: Top 100 Billionaires 2006

 

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Michael Otto & family

 

Industry - Retail & Mail Order

Citizenship - Germany

Age - 62

Net worth (US $ billion) - 10.4

Country of Residence - Germany 

 

Content derived from Wikipedia article on Michael Otto

 

Michael Otto

From Wikipedia, the free encyclopedia

 

Michael Otto (April 12, 1943, in Kulm) is the head of Otto GmbH, the world's largest mail order company, with $24 billion in sales last year. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com.

 

They were the former owners of Spiegel, Inc., (the parent company of Eddie Bauer and former owners of Spiegel catalog), which filed for bankruptcy on March 17, 2003. On May 25, 2005, Spiegel, Inc., emerged from bankruptcy renamed Eddie Bauer Holdings and is now owned primarily by Commerzbank. The Otto Group no long has any stake in the company.

 

Otto and his family own extensive real estate in Canada and in the United States, shopping centers in Germany and part of home-furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.

 

 

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Credits & Copyright: This page is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article Michael Otto 

 

 

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