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| '''Michael Otto''' (born ], ], in ], is the head of ], the world's largest ] company, with $24 billion in sales in fiscal year 2003. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind ]. | '''Michael Otto''' (born ], ], in ] in the Nazi occupied Poland), is the head of ], the world's largest ] company, with $24 billion in sales in fiscal year 2003. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind ]. | ||
| They were the former owners of Spiegel, Inc., (the parent company of ] and former owners of ]), 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 ]. The Otto Group no long has any stake in the company. | They were the former owners of Spiegel, Inc., (the parent company of ] and former owners of ]), 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 ]. The Otto Group no long has any stake in the company. | ||
Revision as of 14:13, 9 December 2007
Michael Otto (born April 12, 1943, in Chełmno (Kulm) in the Nazi occupied Poland), is the head of Otto Group, the world's largest mail order company, with $24 billion in sales in fiscal year 2003. 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.