Hans-Otto Schrader, the chief executive of Otto, Germany’s leading catalogue retailer, believes the days of double-digit growth for online fashion sales are over. Competition is tougher on Germany’s €8 billion market – and Mr. Schrader is settling in for a long hard fight against competitors Zalando and Amazon. The only question for Otto: Is it too late?
Handelsblatt: Do you own any shares in Zalando?
Mr. Schrader: No, why do you ask?
You said you wanted to buy some so you could ask about the package return rate at Zalando’s shareholder meeting.
Well, I was only kidding, maybe I wasn’t clear enough. I wouldn’t invest in Zalando shares for my personal investment account.