Otto GmbH & Co. KG on the path to growth: The online trader is forecasting a rise in turnover of 8 per cent to around EUR 3.2 billion for the 2018/19 fiscal year. The long-established Hamburg-based company plans to invest around EUR 100 million in developing its platform in the new financial year. The company has also announced plans to establish a new company head office on the Otto Campus in Hamburg Bramfeld by 2022. The open plan design will do away with separate offices for management and executives.
Management and executive board members without separate offices
A new Otto headquarters is to be created on the campus in Bramfeld by summer 2022. Otto plans to invest EUR 100 million in refurbishing an old warehouse for this purpose. The new head office will be based on a multi space design and will cover nine floors in total – with space for 1,800 staff. An unusual factor is that Otto executives are to surrender their own individual offices. Katy Roewer, Otto executive for Service & Personnel, explains: “With the intention of leading by example and showing that we are taking our Future Work Initiative seriously, not only an increasing number of management staff are giving up their offices, but also we executive board members.” In line with New Work, there will be open-plan office landscapes in which Management and Executives will also have their workplaces.
With a view to adapting to the new worlds of work, the Otto sole proprietorship launched its own Future Work Initiative at the start of November 2017. The cross functional team under Irene Oksinoglu has taken on the task of structuring the development process of the new way of working to take the company along as a unit. On one hand, this comprises staff who currently have other requirements in working space, environment and technology, as well as on the other management, whose demands and expectations are changing.
Platform continues to grow
In addition, the longstanding Hamburg-based business has since 2017 been evolving from a classical mail order trader into a platform – and thus towards opening up to new partners and brands. Otto has already brought in 400 providers, it said and by 2020 there should be up to 3,000 partners, according to Otto executive board member Marc Opelt. The self-service portal Brand Connect and Otto Market, as points of contact for market place partners, are major components of this initiative. In addition, Otto aims to position itself in the area of smart household appliances: “In future, household appliances lacking internet access will become obsolete. For this reason, we are making appliances and platforms capable of linking up with Otto under the label 'Otto ready’, Opelt explains. To this end, the company is acquiring the Hamburg-based internet of things startup OrderThis-