Amsterdambased Otrium 120m Series C Funding
Otrium, an Amsterdam-based startup that helps retailers and brands sell unsold inventory, amsterdambased otrium 120m series C funding. The company raised the funding from Index Ventures, BOND, and Eight Roads Ventures. Here are some of the reasons why it is so successful. Below, we’ll examine the Brands that use it and the revenues it generates. Ultimately, you’ll have a better understanding of how the startup can benefit your business.
Amsterdambased Otrium 120m series
Otrium, an Amsterdam-based fashion tech startup, has just raised $120 million in a series C round of funding led by Index Ventures. The new capital will be used to ramp up its unsold fashion capabilities, hire additional staff, and expand into the US market. Otrium is a platform that connects brands with consumers to maximize the sale of their unsold inventory. The company says that around 12% of clothing is never sold.
amsterdambased otrium 120m series is an end-to-end platform for end-of-season fashion. The company recently announced the launch of its app in the US, and the company is also introducing new capabilities to help reduce the amount of unsold fashion. The company expects to triple its revenue by 2020, with its app currently having over 300 brands on board. Partners include ASICS, Belstaff, and Joseph. It has also partnered with global fashion brands like Karl Lagerfeld.
The new funding round was led by Index Ventures and Bond, which have previously invested in Otrium. Index Ventures, which previously led Otrium’s EUR24 million Series B round, has also increased its stake. In the past, Index Ventures has invested in Asos, Farfetch, Glossier, and FastCompany. Eight Road Ventures also participated in the round.
Brands that use it
According to the Amsterdam-based startup Otrium, 12% of clothes produced don’t get worn and end up in warehouses or landfill sites. Rather than being discarded, the unused clothing ends up being sold through an ecommerce marketplace. The company raised $28 million last May to further its mission of making sure every single clothing product is worn. Brands can sell their unsold clothes through Otrium, and a portion of the proceeds goes towards helping the environment.
Otrium is well positioned to address the inventory challenges of the apparel industry, with its focus on digital solutions and its ability to serve as an extension of its partner network. It is an innovation that many of the sustainable fashion industry’s leading companies have embraced. In the past, only a few major global fashion brands used this technology, but now, it’s available to every fashion brand to help them build their iconic portfolio.
Founded in 2016, Otrium was created by Milan Daniels and Max Klijnstra to solve a problem in the fashion industry – excess inventory. They met in primary school and had previously co-founded an internet meme-based clothing brand called Breaking Rocks. Now, Otrium provides an outlet store for brands and manages its inventory, order handling, and merchandising. In addition to the sale of goods, Otrium offers users access to sales insights.
Otrium also offers a digital solution for end-of-season selling, including dynamic pricing. With this, designers can make more informed decisions and sell their past-season inventory faster. The Otrium platform sets the price for products based on a variety of criteria, including size, number of units available and interest from the Otrium community. Then, these brands can immediately sell the items, avoiding the hassle of having to store them in multiple locations
The Amsterdam-based otrium series recently updated!
Childhood friends Milan Daniels and Max Klijnstra, who originally collaborated on a designer clothing start-up at the end of season, decided to tackle the problem of excess inventory. They discovered that 12% of all clothes produced never sell, are shipped off to stock buyers, flash sales or outlets and end up as landfill items. Through their research they learned that these unsold garments add up over time – leading them to create the otrium series with zero landfill impact
The Otrium platform enables fashion houses to slash prices on excess inventory without diluting brand identity. This gives them full control over pricing, merchandising, and visibility over unsold stock.
Otrium assists brands in creating lines they know will sell by providing them with updated descriptions and improved photography, along with AI-driven insights into buyer preferences. These tools enable them to develop new collections, reduce overstock fabric inventory, and reproduce popular items.
As a 100% cloud-based enterprise, Otrium must protect its globally distributed workforce from malicious actors. To do this, they use Cloudflare Zero Trust for secure authentication of internally hosted applications and SaaS applications like Google Workspace with identity-aware granular policies.
Cloudflare Zero Trust provides protection to Otrium’s team, global partners, and vendors across 4 continents from threats in their workspaces. This includes a remote-first workforce spanning Western and Eastern Europe, the US/UK, Asia, and South Africa.
Otrium needs to automatically direct its growing community to location- and language-specific websites and payment gateways from its root domain. Furthermore, they must deliver a highly visual product catalog for consumers who are browsing from multiple devices.
Otrium uses Cloudflare to securely and efficiently serve their extensive product library of images across desktop and mobile platforms. Furthermore, they take advantage of Cloudflare’s image optimization features which guarantee all images on their website are optimized for each device being viewed.
As a result, they can quickly offer consumers an effortless shopping experience. Furthermore, the Otrium platform provides partners with analytics so that they can analyze past demand and determine which items have staying power.
Otrium’s Data-Made Fashion concept is another way it strives to promote sustainability within the fashion industry. Through this initiative, they use data from partners to determine which items have staying power, should be recycled, and which can be replicated for resale.
Otrium’s analytics tool also gives them the capacity to predict which items will be trending in the future and when, allowing them to make better decisions regarding their business strategy and marketing plans.
In an effort to reduce its environmental footprint, Otrium launched the Green Collection–a collection dedicated to eco-friendly fashion. This selection can be found within the Otrium app and showcases products from brands who promote sustainable practices.
At present, the Otrium Green Collection is available in 20 markets around the world. This presents brands with an excellent opportunity to demonstrate their sustainable values and attract new customers to their stores.
Revenues it generates
One of the most common ways to determine the profitability of a business is to look at its revenue streams. Revenues from advertising fees are one of the most common, and they are crucial to many industries, including media, software, and services. Listed below are some common sources of revenue for a business. But there are many more, and each one is important. Consider these tips to maximize your revenue streams and minimize your company’s risk.
Revenues are a company’s total sales, and profit is the money it earns after expenses. Profit, on the other hand, is the net proceeds from a business. For a business to make a profit, it must generate enough revenue to cover its expenses. This is also referred to as the top line, sales, or turnover. But what is the difference between these terms? There are some key differences between the two.
When analyzing a business’ revenue streams, it is important to understand the difference between operating revenue and non-operating revenue. Non-operating revenue is the amount of money the company makes from activities that are not directly related to its core business operations. Examples of non-operating revenue include selling assets and collecting interest. Revenue is the sum of the company’s sales minus any discounts, allowances, and returns. For example, a bakery selling 100 loaves of bread at $5 each would earn $500 of revenue. Revenues are also called the “top line” of a business, as it usually appears at the top of an income statement.
Investors it has attracted
Otrium is an online marketplace that helps designers and brands sell their end-of-season items. The company expects revenues to double by 2020, thanks to an increase in consumer awareness of sustainable fashion. The company has already attracted some big name brands, including Joseph, Karl Lagerfeld, and Anine Bing. In addition to its own brands, it also partners with fashion companies, including Belstaff, ASICS, and Reiss. Otrium is co-founded and run by Milan Daniels, who is a former Google employee and a former executive at Google Ventures.
Earlier this year, Amsterdambased Otrium 120m Series C Funding raised EUR200 million, making its total funding to date EUR800m. The investment has also brought on board a major influencer in the fashion industry. Otrium will use the funds to accelerate growth and expand its reach. The company is also planning to hire more employees as the investment is expected to help the startup expand its operations in the US and grow more quickly. BOND is among the investors that have supported the company so far, and Juliet de Baubigny, general partner at BOND, will join Otrium’s board.
Otrium has a digital business model that has seen the startup’s revenue triple in the last four years. The company boasts over three million registered members and works with more than 300 fashion brands. The company partners with leading fashion labels including Reiss, ASICS, and Karl Lagerfeld. Its recent expansion has helped fashion brands determine which items will last and which will not.
Besides bringing in new customers, Otrium also helps brands make better decisions about the design of their products. During the pandemic, the company’s unsold inventory doubled, and the resulting unsold inventory increased by two-thirds. The company’s data-based merchandising and design decisions are the key to a successful future for both brands and investors.