Founded in Amsterdam by a former Nike executive, the Otrium 120m Series is a digital fashion marketplace that helps brands make data-based merchandising and design decisions. It also allows brands to open an outlet store on the platform, and caters to more than 20 markets in Europe and the US. In the last four years, the company’s revenue has tripled.
1.2 million garments produced every year don’t get worn
Using data from the European Union’s frugally minded FED, the Dutch startup dubbed Otrium is betting a lot of cash that its online marketplace is the next big thing. The company has a baffling smorgasbord of 160 employees, with plans to hire another 100 over the course of the next 12 months. Its most laudable claim is that it was the first to sell a reimagined version of the elusive XXL clothing line. While the brand is still new, the company has already signed a deal with US retail powerhouse Forever 21, which entitles it to some exclusivity. Otrium has also signed up with UK retailer and lifestyle brand L’Occitane for a slew of products in the pipeline.
While the new company’s wares are a tad more pedestrian than those of a grizzled vet, the competition isn’t all that bad. The biggest challenge will be sizing up the market, as well as ensuring that the company’s wares are the sexiest in the land.
Digital business model has seen revenue triple in last four years
Founded in Amsterdam, Otrium offers a digital solution to help fashion brands sell their end of season inventory. Through their platform, fashion houses can sell their excess inventory, and customers can purchase them at discounted prices. They have over 300 fashion stores on their app, including brands like Karl Lagerfeld, Reiss, Belstaff, and ASICS.
Otrium’s mission is to provide fashion brands with tools to make their lines successful, while at the same time maximizing the sale of their unsold inventory. They help brands with merchandising, order handling, and sales insights. They also have a full logistics service. They work with fashion giants like Vans, Guess, and Puma. Otrium also works with local and small labels.
Otrium has an extensive network of over three million registered members. It manages over 300 fashion stores, and has three logistics hubs. It ships products from a 50,000 square meter warehouse near the German border. Otrium sets prices based on a variety of criteria, such as size, style, and number of units available. It also has analytics functionality to help fashion houses determine which items have staying power.
Otrium has grown rapidly, with revenue increasing by over a hundred percent in the last four years. The company plans to expand its reach into the U.S. and hire additional staff. This newly-raised capital will help Otrium continue to develop its technology platform. It will also help Otrium to accelerate its US expansion.
Otrium’s technology allows fashion houses to retain full control over their pricing. By offering dynamic pricing, designers can make more accurate decisions. They can also sell past season inventory more quickly. Otrium has recently rolled out expanded analytics functionality. These analytics allow fashion houses to analyze past demand and understand which items have staying power.
Company’s logistical hubs help it cater to more than 20 markets throughout Europe and the US
Founded by childhood friends Milan Daniels and Max Klijnstra, Otrium is an online marketplace that offers an end-to-end fashion experience. A company with offices in Amsterdam, London, New York and Dubai, it has a marketplace of more than 300 brands and is able to serve 20 markets across the US and Europe. Its most recent round of funding was a $120 million Series C led by Index Ventures and Eight Roads Ventures.
Otrium’s spiel is that it gives brands the power to set up a retail outlet online without having to deal with the nitty gritty of inventory management. The company’s proprietary technology enables brands of all sizes to quickly and efficiently set up an outlet store. It also helps fashion houses reduce the amount of time and money wasted in the traditional retail model.
Otrium has an impressive suite of features, from a royal catalog of designer items to an analytics platform that provides real time data. It also provides fashion houses with a smarter solution to the overstocked fashion dilemma. Otrium’s proprietary technology allows fashion houses to reduce the amount of money they spend on inventory by automating processes such as returns, inventory management and fulfillment.
Among its other achievements is the fact that it has over three million registered members. It also boasts the world’s largest database of end-of-season fashion items. The company also offers reductions of up to 75 percent off designer brands.
Otrium is also a pioneer in providing a solution to the multi-billion dollar problem of unsold inventory in the fashion industry. According to the company, 12 percent of clothing produced goes unsold and can end up in landfills. Otrium’s end-to-end solution gives fashion houses the tools to reduce their inventory and maximize their profits.
Brands can open an outlet store on the platform
Founded by Max Klinjstra and Milan Daniels, Otrium is an end-to-end platform for end-of-season fashion. It has partnered with over 300 fashion retailers and brands. The company’s patented technology allows brands of all sizes to set up an outlet store in minutes. Otrium has a network of outlets in twenty countries. It offers exclusive access to premium brands.
Otrium is an innovative solution to the multi-billion dollar problem of unsold inventory. Its proprietary technology gives brands the tools to create lines, figure prices, and sell unsold apparel.
Its platform is the first of its kind. It is built around a cloud-based business model. This allows Otrium to be more efficient and grow faster. The company’s main office is in the Netherlands. Otrium also has offices in New York and London. It employs 270 people at its hubs. Otrium has more than 3 million registered users.
The company has recently launched its US marketplace with brands including Reiss, Adam Lippes, and Belstaff. It has also introduced new features to help reduce unsold fashion. The company also plans to triple its income by 2020.
Otrium has recently raised a fresh round of funding, led by Index Ventures and BOND. The company plans to grow its business and reach more customers. It will also expand its technology platform.
Otrium’s new funding has helped the company reach new heights. It now has a team of 270 people at its hubs in New York and London. It plans to expand its US presence and hire more people.
With the recent funding, Otrium’s revenue has increased from $24 million in its series B round to $120 million in its series C round. Otrium plans to double its earnings over the next two years.
It helps brands make data-based merchandising and design decisions
Founded by childhood friends Milan Daniels and Max Klijnstra, Otrium is a fashion company that is solving the problem of excess inventory by creating an online marketplace for end of season clothing. Through a data-driven merchandising approach, Otrium offers a measurable alternative to unsold products. The company serves 20 markets globally, with 300 fashion brands currently listed on the Otrium platform.
The company’s mission is to ensure that every single piece of clothing is worn. Nearly three-fifths of all clothing produced is left unsold. Several luxury fashion labels have been found to be destroying unsold goods. This has led to the development of new technology that can help fashion companies identify items with staying power.
The Otrium store offers a visual representation of the performance of each item. It also includes in-depth sales information, such as inventory status and sell-through percentages. This data can be filtered by size, date, and style.
Otrium’s technology makes setting up an online store for your brand easy. It allows you to sell your products to consumers who want to buy them at a discounted price. In addition, Otrium provides rich data on the popularity of items. It also helps brands develop successful lines.
Otrium also helps brands fix unsold inventory. Approximately 12% of clothing produced sits in warehouses. In addition, Otrium’s dynamic pricing algorithm takes into account the popularity of each item and the demand for it. This allows designers to make more precise decisions about what products to sell and how to price them.
Currently, Otrium works with brands such as Belstaff, ASICS, Karl Lagerfeld, and Reiss. It plans to expand its offerings to the U.S. in the near future. The company is also expanding its analytics capabilities. This will allow its brand partners to analyze past demand and determine which items have lasting power.
