Online fashion outlet Otrium raises $120 mln ahead of U.S. launch

Reuters2021-03-31

BERLIN, March 31 (Reuters) - Otrium, an online outlet store for fashion brands, said on Wednesday it had raised $120 million from investors as it launches in the United States and develops its platform for trading items left unsold at the end of the season.

Amsterdam-based Otrium said that its revenues had tripled in 2020, while its registered members topped 3 million and it has over 300 fashion stores on its app. Its partners include Karl Lagerfeld, Joseph, Anine Bing, Belstaff, Reiss and ASICS.

"Our goal is to get as close as possible to eradicating unsold seasonal inventory," said Milan Daniels, CEO and co-founder of Otrium.

The Series C investment round was led by BOND and Index Ventures, with continued backing from existing investor Eight Roads Ventures, Otrium said in a statement.

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Comments

CrisJY
2021-03-31
CrisJY
Nice
Gogogolll
2021-03-31
Gogogolll
Wohoo
COYGrrr
2021-03-31
COYGrrr
Informative article
Ngansee
2021-03-31
Ngansee
Wow
hitithard
2021-03-31
hitithard
Come comment
- kino318:
  OK. thk
- MicroStrategist:
  yeah need a response for coins

Leave a comment

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