Otto Aims to Become Market Leader in Brazil, Abendblatt Reports

Otto Group sees “significant potential” to grow in Brazil and aims to become the market leader in the country’s online fashion trade within five years by raising sales to $500 million, Hamburger Abendblatt reported today, citing Chief Executive Officer Hans-Otto Schrader.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net