Online outlet store for fashion brands, Otrium, has recently announced that it has secured $120 million in funding ahead of its launch in the United States. This investment will be used to further develop the platform and expand its offering of unsold items at the end of the season. Otrium has experienced significant growth, with its revenues tripling in 2020 and more than 3 million registered members. The platform currently partners with over 300 fashion stores, including well-known brands like Karl Lagerfeld, Joseph, Anine Bing, Belstaff, Reiss, and ASICS.

CEO and co-founder of Otrium, Milan Daniels, stated, “Our goal is to get as close as possible to eradicating unsold seasonal inventory.” With this latest funding round led by BOND and Index Ventures, and with continued support from Eight Roads Ventures, Otrium hopes to not only expand but also solidify its position as a major player in the online fashion industry.

Otrium’s concept is simple yet effective. It offers fashion brands the opportunity to reduce waste and boost revenue by selling their unsold inventory on its platform. This benefits both the brands and the consumers, as shoppers can access premium fashion items at discounted prices. The success of Otrium can be attributed to its user-friendly experience, strong brand partnerships, and commitment to sustainability.

The COVID-19 pandemic has had a significant impact on the fashion industry, leading to an excess of unsold inventory. Otrium’s platform has become increasingly sought after by brands seeking alternative solutions for offloading their excess stock. By providing a seamless process for selling and purchasing fashion items, Otrium has tapped into a growing market demand.

Expanding into the United States is a major milestone for Otrium, as it represents one of the largest fashion markets worldwide. This move offers immense growth opportunities for the platform. With its innovative approach to online outlet shopping, Otrium is well-positioned to capture a significant share of the American market.

Otrium’s success story showcases the power of innovation and adaptability within the fashion industry. By embracing technology and sustainability, the company has established itself as a leader in the online fashion outlet space. With its recent funding and expansion plans, Otrium is poised to revolutionize the way consumers shop for fashion while driving positive change in the industry.

For more information on Otrium, visit their website: https://www.otrium.com.

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