Otto has revealed sales of ÂŁ23 million for its fashion brand Oli in its first full year of trading, as a new chief executive takes the helm of the UK arm.

Oli brand marketing co-ordinator Karen Hazeldine said the first year results to July 2 had been mixed in terms of its internal targets and were “a learning curve” for the business.

During the year, Oli pulled its catalogue to concentrate on a smaller magazine-style publi-cation because 83 per cent of its sales come from online. The retailer’s designer ranges, which include collections from models Jodie Kidd and Jasmine Guinness, was an area that exceeded expectations according to Hazeldine, generating sales of£2 million.

Otto has hired Koert Tulleners as chief executive of the UK operation to take over from Mike Hancox, who resigned in June and will leave next month. Tulleners joins from Otto International in Asia and has been with the home shopping group since 1994.

Otto invested£25 million in Oli originally, which took 17 months to set up and at its launch was touted as a challenge to Next’s Directory operation.

This week, Oli updated its web site with a refreshed look and extra features to give it a more “editorial feel”. These include Oli TV, which allows customers to see collections live on the catwalk from London Fashion Week, and new fashion blogs.

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