Market value reaches 1 billion US dollars, with over 3 million members! Otrium is aggressively digging into the US market

Foreign media reported that Dutch online fashion resale platform Otrium raised $120 million in funding just one year after raising $ 26 million in Series B financing , and plans to use the funds to expand its market in the United States.

BOND and returning investor Index Ventures led the round. Existing investor Eight Roads Ventures also participated.

Otrium has more than 3 million members and a market value of $1 billion

Amsterdam-based Otrium said its revenue tripled in 2020, with more than 300 fashion stores on its app, and that its partners include Karl Lagerfeld , Joseph , Anine Bing , Belstaff , Reiss and ASICS .

It is reported that Otrium's market value has reached 1 billion US dollars. Since its establishment in 2016, its development speed is quite amazing. In just a few years, it has expanded to many European countries and is active in the European online fashion field.

Otrium has launched services and operations not only in the UK, France, Germany and Spain, but will also be operating in the US.

“We are giving many brands the opportunity to transform their inventory,” said Milan Daniels, CEO of Otrium. “Brands will no longer be dependent on new seasonal releases and Otrium will help the fashion industry sell more goods.”

Otrium's unique operating concept: reselling brand end-of-season inventory

Otrium is actually a fashion resale platform that helps companies and brands digest their accumulated inventory.

Otrium's operating concept is very simple. When products reach end-of-season status, brands can list these products on Otrium and continue to sell them.

With Otrium, brands can add another sales channel for these specific items. Instead of having to manage end-of-season inventory in multiple stores, these brands can have one online inventory.

Currently, many brands have their own end-of-season sales, and Otrium's model is very promising, but it also has some limitations. Because some luxury fashion brands don't necessarily want to reduce the price of goods, some companies are usually unable to sell all their inventory in this way.

“Our goal is to eliminate as much unsold seasonal inventory as possible,” said Milan Daniels, CEO and co-founder of Otrium.

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