Michael Otto (1944-) is the head of Otto GmbH, the world's largest mail-order company. Internet sales is also an important commerce channel, Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com.
They were the former owners Spiegel, Inc., (the parent company of Eddie Bauer and former owner of Spiegel catalog), which filed for bankruptcy on March 17, 2003. On May 25, 2005, Spiegel, Inc., emerged from bankruptcy renamed Eddie Bauer Holdings and is now owned primarily by Commerzbank. The Otto Group no long has any stake in the company.
Otto and his family own extensive real estate in Canada and the U.S., shopping centers in Germany and part of home-furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.
$8.3 billion as of 2005.
$8.0 billion as of 2004.