Online fashion outlet Otrium receives €750k growth capital
Dutch online fashion outlet Otrium received a €750,000 investment from entrepreneurs Adriaan Mol (Mollie & Messagebird), Fred Gehring (former CEO Tommy Hilfiger) and Ludo Onnink (former CFO Tommy Hilfiger). With the investment the start-up aims to scale up the company abroad.
Otrium is currently only available in the Benelux and intends to target new markets in the coming months. In 2016 the company received €200,000 from investors Hans Veldhuizen (founder Nedstat and Albelli), Marque Joosten and Marijn Pijnenborg (founders Funda) and Victor Knaap (founder MediaMonks).
A few months later Otrium raised €600,000 growth capital in a venture round led by Dutch venture capital firm Keadyn. With the latest investment, Otrium raised a total of 1.4 million euros in growth capital within two years to further grow the online outlet marketplace.
Fred Gehring (former-CEO Tommy Hilfiger) said in a press release: “Otrium is the innovative challenger in the fashion outlet, one of the fastest growing sectors in the fashion industry. Founders Milan Daniels and Max Klijnstra have shown incredible results in recent years. Otrium is a modern addition to the outlet landscape.”
At Otrium members are able to get access to online outlet sales from both well- known and emerging brands. Otrium provides the technology as well as the logistics for the brands.
The online platform offers Dutch and international brands, including SuperTrash, Fabienne Chapot, Denham, Josh V, Puma and Pepe Jeans.
Otrium launched in 2015. The company aims to be the largest online fashion outlet in Europe by 2020.
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