Sven Seidel to become Executive Board Member Multichannel Retail at the Otto Group

Hamburg, Germany, 2017-Nov-16 — /EPR Retail News/ — With effect from 01 April 2018 the top manager from the Schwarz Group is to become Executive Board Member Multichannel Retail at the Otto Group. The 43 year-old succeeds Neela Montgomery, who has taken over as CEO at the Otto Group company Crate and Barrel at her own wish.

In Sven Seidel the Otto Group has gained one of Europe’s most renowned retail managers to lead its retail business. Following several consultancy positions, he has held leading executive positions in the globally active Schwarz Group, based in Neckarsulm, Germany. Over the last three years Sven Seidel has led the strategic, digital and cultural further development of retail giant Lidl; during his time in office the company has laid the groundwork for a successful expansion into further new markets such as the USA, and has begun to structure a viable digital structure for the future.

Sven Seidel is to head the Otto Group’s Multichannel Retail Business on the Executive Board. His responsibilities will comprise company groups such as Crate and Barrel, SportScheck, Manufactum and Frankonia, as well as providing strategic consultancy on the varied retail activities of the Otto Group’s major omnichannel providers, from Bonprix to the Witt Group. Furthermore, Sven Seidel will be responsible for all the Otto Group’s import activities, which are bundled within the Group company Hermes Otto International (HOI).

“I have come to know Mr Seidel as an outstandingly agile, highly experienced and very successful manager who will provide key new stimuli for the Otto Group’s omnichannel retail activities”, emphasizes Dr Michael Otto, Chairman of the Otto Group Supervisory Board. “His personality and leadership mentality are an excellent match for our group of companies.”

“The Otto Group is an internationally successful and digitally very well positioned company, with a unique corporate culture. In these times of massive change in retail I am delighted to be able to make a contribution to the Otto Group’s further development”, says Sven Seidel.

The 43 year-old is to succeed Neela Montgomery, who took over as CEO at the furniture and lifestyle specialist Crate and Barrel, based in Northbrook near Chicago, on 01 August 2017 at her own wish.

Mr Seidel’s appointment is pending approval by the Otto Group Supervisory Board.

Über die Otto Group
Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 49,750 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 2016/17 financial year (to 28 February), the Otto Group generated turnover of 12.5 billion euros. It is one of the world’s largest online retailer. E-commerce, catalogue sales and over-the-counter retail form the three pillars of the Otto Group’s Multichannel Retail strategy. Its worldwide corporate activities, numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer knowhow and leverage areas of synergy potential. Group companies operate largely independently, guaranteeing flexibility, customer proximity and optimum target-group appeal in their respective national markets.

Media Contact:
Thomas Voigt
Tel.: +49 40 6461 4010
Email: thomas.voigt@ottogroup.com

Source: Otto Group

Majid Al Futtaim Fashion to debut American homeware and furniture brand Crate and Barrel in Doha Festival City

Majid Al Futtaim Fashion to debut American homeware and furniture brand Crate and Barrel in Doha Festival City

 

Dubai, UAE, 2017-Apr-04 — /EPR Retail News/ — Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa and Asia, today announced the signing of an agreement with Crate and Barrel to operate their stores and showrooms in Qatar from the beginning of April 2017. The agreement covers a five-year term with an exclusive license for stores in Qatar and plans to expand into other areas of the GCC.

This marks Majid Al Futtaim Fashion’s first entry into the home fashion and furniture market, and the announcement comes as the leadership of both businesses convene at the World Retail Congress taking place between 4th-6th April in Dubai.

Founded in Chicago in 1962, Crate and Barrel is a leading American homeware and furniture brand with more than 50 years of celebrated history in the market. Spanning over 100 stores globally, the Crate and Barrel brand creates store experiences intended to inspire customers who seek well-designed, high-quality home furnishings that bring creativity and beauty into their homes.

Majid Al Futtaim Fashion is pleased to announce that it will debut the brand with a 1,500 sqm Qatar store located in Doha Festival City. The location will showcase Crate and Barrel’s signature collection of housewares, seasonal accessories and complete line of indoor and outdoor furniture, as well as the unparalleled Crate and Barrel gift registry experience. In its product portfolio, Crate and Barrel includes housewares for the kitchen, dining room, bedrooms, bathrooms as well as for entertainment, decoration, lighting, organization and exterior furniture. The much anticipated first store is set to open in Q4 2017.

Rajiv Suri, Chief Executive Officer at Majid Al Futtaim Fashion commented: “This is an important step for Majid Al Futtaim Fashion as we expand into a new line, home fashion and furnishings. Crate and Barrel is an incredible brand with a strong presence in the UAE, so we are excited to continue to extend the company’s presence further across the GCC.”

Real estate development is thriving as the demand for residential property continues to grow in the Middle East.  In particular, the GCC real estate market has emerged as one of the fastest growing sectors across the globe, with Doha (Qatar) among the cities topping the regional list. Qatar has witnessed rapid economic development and has seen a rise in per capita income, fuelling the demand for residential units in the country. The growing property market is complemented by an increasingly sophisticated and international customer-base, looking for on-trend and high-quality home furnishings with impeccable craftsmanship and value. Building on its success in the UAE, Crate and Barrel has a strong appeal to visiting GCC-shoppers. Therefore, the brand has now partnered with Majid Al Futtaim Fashion to introduce it to other GCC markets.

“We are excited about this new relationship and what it means for the Crate and Barrel brand,” said Neela Montgomery, Executive Chair, Crate & Barrel. “The aggressive growth orientation of Majid Al Futtaim aligns squarely with our business strategy in the region.”

Today, Crate and Barrel is a privately held company owned by the Otto Group of Hamburg, Germany, the second largest online retailer worldwide.

Source: Majid Al Futtaim

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