Germany’s Otto, Europe’s second biggest e-commerce player, emphasized on Wednesday to its commitment to ethical standards as it tries to face off stiff competition from Amazon and other online rivals. The Otto Group, a family-owned mail order firm founded in 1949 which shifted into e-commerce in the 1990s and now runs dozens of websites worldwide, said executive pay would be tied to the achievement of sustainability goals. “Values are something that sets Otto apart from many other companies,” Chief Executive Hans-Otto Schrader told a news conference, adding customers, employees and other partners increasingly demanded that Otto act responsibly. Online sales grew 6.4 percent to 6.063 billion euros, including a 7.2 percent rise in Germany to 3.96 billion euros, albeit at a slower pace than 12 percent growth rate reported for total e-commerce by the German Retail Federation (HDE).
Germany’s Otto seeks advantage from ethical credentials
21
May
2014
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