Another well-known retailer left Russia
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Retailer Otto sold all its assets in Russia
German online retailer Otto has sold all its assets in Russia. This is reported “Kommersant”.
According to the source, Multicold became the buyer of the retailer’s warehouses. The amount of the transaction, according to experts, could be about 2.3 billion rubles. At the same time, the discount from the market price in the current conditions could be at least 50%.
Recall that the Otto online store stopped accepting orders in the Russian Federation in 2018. Then the CEO of Otto Group Russia Martin Shearer admitted that this is being done “in accordance with the global strategy of Otto Group.” At the same time, the last Otto Group store left Russia only in July 2022.
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