Otrium is an online outlet platform from the Netherlands with a presence in Belgium and most other European countries as well. The platform recently received 7 million euros of growth capital from Index Ventures. The same fund also invested in Asos and Net-a-Porter.
Accelerated growth across the globe
Otrium started in 2016 as a full-service marketplace to help fashion brands sell their excess supplies at a good price. At first it only focused on women's clothing, but they now also deal in men's and children's fashion. The online outlet now claims to have over 600,000 members who can choose from a range of more than 100 brands, including G-Star, Puma, Vans, Pepe Jeans and Scotch & Soda.
The young company, which was founded by Milan Daniels and Max Klijnstra, recently received a capital injection of 7 million euros "to grow its international footprint and brand partnerships", says the press release. The online outlet is currently active in most European countries, but the extra capital will help it grow in those markets with the biggest potential: Germany, Britain, Denmark and Sweden, according to a spokesperson in an interview with Fashion United. "Furthermore, we keep our eyes open for new markets where we can launch."
The money comes from Index Ventures, an investment fund based in London and Chicago. Index Ventures previously invested in Dropbox, Deliveroo, Farfetch, Asos and Net-a-Porter. The fund's interest in Otrium doesn't come as a surprise: the outlet fashion market is the fastest-growing segment in all of retail, representing an annual turnover of 30 billion euros in Europe and 250 billion worldwide.