Otto Versand bucks trends, boosts sales 15 percent

Article Abstract:

Otto Versand, the largest mail order house in the world, has increased global sales by 15%, to DM29.7 billion, or $16.5 billion, in 1997-98 period. The company earned 48.5% in 19 countries in Europe, Asia and the US. Otto Versand's report shows that sales in France, the UK and Japan performed better than the previous year, with the 3 Suisses Group raised turnover by 7.3%, to F12.8 billion; Grattan in the UK rose by 4%, to DM603 million; and Otto-Sumisho Group in Japan rose by 12.7%, to 39.8 billion yen. Generally, sales outside Germany showed strong growth except for Italy and the US. In Germany, Otto Versand raised domestic sales to DM15.3 billion, or $8.5 billion, from DM14.1 billion in 1996-97 period.

Sales, profits & dividends

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Otto buys 25 German Amex Travel agencies

Article Abstract:

Otto Versand, touted as the world's largest mail order house, has acquired American Express' 25 travel agency offices in Germany for an undisclosed term. The deal, which took effect on June 1, 1998, marks not a decrease of American Express' travel activities in the German market but more of an expansion. Otto has integrated the 25 Amex offices together with over 20 of its own travel agencies in an American Express franchise group. The group will continue to be called the Reisland American Express and carry the old "Blue Box" logo. The combined operation will continue providing cardholder services, including replacement of lost cards and sale of Amex checks.

Travel Agents, Travel Agencies, Licensing/Sales Agreements, American Express Co., Otto Versand Gesellschaft mit beschraenkter Haftung und Co.

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Otto Versand buys freemans catalog

Article Abstract:

Germany's Otto Versand, the world's biggest mail-order house, has acquired Freemans PLC, the UK's third biggest mail-order house, from Sears for an estimated GBP155 million to GBP170 million ($248 million to $277 million). The purchase boosts Otto's market share to 15% from 8%, making Otto the UK's second biggest cataloger behind Great Universal Stores. The acquisition is also expected to increase Otto's UK sales to over GBP1 billion ($1.6 billion).

United Kingdom, Freemans PLC

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