The Otto Group remains number one in the German fashion trade.
In 2023, the company achieved an estimated turnover of 4.5 billion euros by selling clothing, shoes and accessories in this country, more than any other retailer. This is reported by the magazine ‘Textilwirtschaft’. Otto recorded a decrease of a good 2 percent compared to the previous year, but still leads the ranking by a large margin.
The new second place among the largest fashion retailers is H&M with sales of 3.07 billion euros. The Swedish fashion chain has overtaken Zalando in Germany and pushed it into third place. According to ‘Textilwirtschaft’, the online fashion retailer from Berlin had sales of 3 billion euros in 2023, almost 7 percent less than in the previous year.
There was movement behind it too. The shoe retailer Deichmann, which recorded an increase of 9.5 percent, moved past the fashion company C&A into fourth place. The shopping portal Shein has seen the strongest growth in the top group. The Asian company increased its revenues in Germany by 49 percent to around 2 billion euros and climbed from 11th to 7th place. (dpa)