In 2013, Netherlands-natives and recent grads Milan Daniels and Max Klijnstra launched a somewhat successful sweater brand in Amsterdam. The two were selling thousands of sweaters in over 20 countries, and doing 4-6 collections per year. What they eventually noticed, however, was that their warehouse was filled with a vast amount of items from previous collections, even after they’d already done their sale.Daniels and Klijnstra decided to look into solutions for these end-of-season clothes, so they talked to stock buyers, e-commerce sites that offered flash sales, physical outlet centers, and large outlet malls.They eventually  learned that every brand had the problem of unsold inventory, that stock buyers and flash sales took very high margins, and that it was difficult for many brands to break the barrier to market entry at physical outlets.  So, in 2015 they launched undefined, an online marketplace for end-of-season clothes that allows brands to sell their unsold inventory at cheaper prices.In late May of 2020, Otrium announced that it had raised €24 million in Series B funding, in a round led by Eight Roads Ventures, with existing investors Index Ventures and Hans Veldhuizen participating.“We are trying to change the perception that clothing that is usually 3 months or 6 months at full price and after it’s seen as worthless” Milan Daniels, cofounder and co-CEO says. “We wanted to build a platform where these items get a chance at being bought at a price that is cheaper but still values all the resources that went to the product.” 

Washington will lead global expansion of the brand into the U.S. Andrew Robb, the Farfetch’s former COO, to join boardAmsterdam, 15 June, 2021 - Otrium, the premier online outlet shopping experience, today announces the appointment of Zuhairah Scott Washington as President. Joining from Expedia Group, she brings her experience in navigating digital transformation and business model disruption to Otrium’s rapidly expanding end-to-end marketplace for fashion.

Otrium, the premier online outlet shopping experience, has appointed Andrew Robb, formerly Chief Operating Officer at Farfetch, to its board in the role of Non-Executive Director. Having scaled Farfetch during his 10 years as COO, Robb will bring his expertise to bear in scaling Otrium into a global ecommerce leader.Otrium is a fashion marketplace that solves the enormous multi-billion dollar industry challenge of unsold inventory. Currently, around 12% of clothing produced stays unsold. Using proprietary technology, Otrium works with fashion brands to help find a buyer for every item of clothing produced. It offers brands an easy way to set up an online outlet store, leveraging its in-depth analytics to ensure brands maximize their revenues and ensuring customers get the best fashion brands at exceptional prices, all with premium service.Otrium partners with leading fashion brands, including Karl Lagerfeld, Joseph, Anine Bing, Belstaff and Reiss. In 2020, Otrium saw revenues triple, with registered members surpassing 3 million and over 300 fashion stores now on its app. It serves over 20 markets across Europe and the US from 3 logistics hubs. Says co-founder and CEO, Milan Daniels, “We’ve strengthened our board team with Andrew Robb, who brings a huge amount of passion and experience in rapidly-scaling technology-led businesses, from early stage through to hyper-growth.”Says Robb, “I’m interested in businesses that can change the world. Having helped scale Farfetch from an early stage through to becoming a global leader in luxury fashion ecommerce, I can see the global potential in Otrium. I’m excited to be joining the board to see it through this scaling phase of its journey – there’s no better time to be a part of what Otrium is bringing to the fashion world.”