Fashion for Good launches partnership with Otto Group, OTTO and bonprix
29 November 2018
AMSTERDAM- Today Fashion for Good and Otto Group with its companies OTTO and bonprix announce their partnership. Both partners emphasise their commitment to a good fashion industry in their shared agenda, which drive the call for international and collaborative innovation within the circular apparel industry.
Katrin Ley, Managing Director of Fashion for Good, on the new partnership: “We are very pleased to welcome Otto Group and its companies Otto and bonprix to the Fashion for Good Innovation Platform. Fashion for Good pioneers pre-competitive collaboration for innovation. And we now come to a large group of corporate partners across a broad range of market segments, all deeply committed to drive the scale up of innovative technologies together.”
With the addition of Otto Group, OTTO and bonprix to its network, Fashion for Good gains committed partners and an experienced retail and services group. The Group includes 123 major companies and is present in over 30 countries in Europe, North and South America and Asia. Otto Group, OTTO and bonprix will be part of Fashion for Good’s selection process with innovators, defining focus areas and providing expertise and mentorship to the start-ups. They will gain specialized scouting and screening support, as well as preferential access to market-ready innovations through Fashion for Good’s extensive network.
“In the age of digitisation, we are convinced that an innovation-driven sustainability approach in particular will help us to solve the major environmental and social problems of our time,” emphasises Alexander Birken, Chairman of the Otto Group Executive Board. “By becoming a partner of Fashion for Good, we want to work towards this goal together with others and search for solutions. One thing is very important here: the implementation, which means getting started,” Birken says.”We want to continue to push the limits in the field of sustainability, because responsible action has been an integral part of our DNA for decades.”
Sustainable management has been a fundamental principle of the Otto Group and its companies for more than 30 years. With its Sustainability Strategy 2020, the Group focuses on conserving resources when extracting and processing raw materials like cotton, ensuring compliance with social standards at suppliers and improving its carbon footprint. Looking beyond 2020, the Otto Group is working on new ambitious goals, in which the United Nations’ global sustainability goals, the Sustainable Development Goals (SDGs), will play an important role.
About Otto Group, OTTO and bonprix
Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 51,800 employees. The Group includes 123 major companies and is present in over 30 countries in Europe, North and South America and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services and Service. In the 2017/18 financial year (to 28 February), the Otto Group generated turnover of 13.7 billion euros. With online revenues of approximately 7.9 billion euros, the Otto Group is one of the world’s largest online retailer.
OTTO, as part of the Otto Group, is the largest online trader for fashion and lifestyle in Germany and the second largest online trader (B2C) overall. Over 95 percent of total turnover is generated through otto.de with its assortment of more than 2.8 million products.
As an internationally successful fashion retailer, bonprix is currently represented in 30 countries. As a company of the Otto Group it offers a range of women’s, men’s and children’s fashion, accessories as well as home textiles and home furnishings on all channels – online, by catalogue or at one of its fashion stores. E-commerce accounts for the lion’s share of sales, with approximately 80 percent, and the online shop is one of the ten strongest in terms of sales in Germany*.
*Source: Study “E-Commerce-Markt Deutschland 2018” by EHI Retail Institute / Statisa
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