B Corp Receiving B Corp status is a significant step, providing a clear framework for making further progress while being accountable to high social and environmental standards. Otrium was assessed on five pillars during the certification process, namely governance, the environment, employees, customers and community. A minimum of 80 points is required for a company to achieve B Corp status and the fact that Otrium scored 91.6 out of a possible 200 was a major milestone, especially for such a young company. These results serve as recognition of the impact of the work carried out in recent years, and the business operations in particular.To complete the certification process, companies must account for the impact of their decisions on all stakeholders in their governing documents. And certification is certainly not the end of the journey: companies are re-assessed every three years to ensure they still meet (the increasingly higher) standards for recertification. Together with key brand partners, supply chain partners and customers, Otrium strives for continuous improvement and works towards a future where all clothing produced is worn. For example, the company is actively working to further extend the lifecycle of fashion items, including by repairing damaged products. In addition to its core mission, Otrium is continuously improving its operational footprint by using less and recycled packaging materials and significantly enhancing last-mile delivery through DHL’s GoGreen Plus programme in the Netherlands. It remains committed to creating a better future for the fashion industry, by selling unsold inventory.Otrium reports annually on the impact of its business model—see the latest report here.Breaking even in Q4 2024At the end of 2023, Otrium announced its ambitious plans for 2024 and beyond, with a focus on breaking even by Q4 2024 and achieving profitable growth in 2025. CFO Frank van Valderen was appointed as CEO at the start of January 2024 to implement the new strategy, leveraging on his extensive relevant experience from previous leadership roles at well-known e-commerce retailers.Under Van Valderen’s management, Otrium in Europe has focused on selling more relevant and attractive brands such as Levi’s, New Balance, Axel Arigato, Rains, Moschino and The Kooples, all of which joined the Otrium range in 2024. In addition, Otrium has strong local brands such as Scotch & Soda, McGregor and Fabienne Chapot. Less relevant brands that were insufficiently appealing to consumers or resulted in losses have been phased out. Taken together, these measures have led to increased customer loyalty, a higher purchase frequency and improved margins per order.“We can clearly see that our customers appreciate the changes made,” says Van Valderen. “They are buying more designer and affordable luxury brands and we are offering the right brands at the right prices. We know that our customers welcome a good deal and our brands are pleased when we sell their products at a solid margin. In this case, 1 + 1 = 3 – happy brands and happy customers. We will be going much further in 2025.”At the end of 2023, Otrium’s United States operations were transferred to the Rue Gilt Groupe and sales activities in the United Kingdom were discontinued. The improved operational performance in Europe and the removal of losses in the US and UK significantly reduced Otrium’s burn rate in 2024 compared to the previous year. In Q4 2024, Otrium posted a profit for the first time in its history. The EBITDA loss for all of 2024 fell by approximately 70% compared to 2023. Van Valderen: “Achieving this turnaround wasn’t easy and the entire Otrium team worked incredibly hard. I am proud that we have accomplished such excellent results together and set a new springboard for profitable growth and the continued development of Otrium.”More and more brands believe in Otrium’s mission and are collaborating to build a new future for fashion. Otrium now offers over 300 fashion brands undefined. More information available below via the links:Custom-made packaging undefinedOtrium’s repair service undefinedeOtrium’s recycling service undefinedeFor more information and/or interview requests, please contact: Emelin Naudin ten Cate | PR Managerundefined or call +31 6 47 138 296About Otrium Founded in 2017, Otrium is a B Corp-certified fashion outlet with a clear mission: ‘all clothing should be worn’. The company provides a solution to a growing challenge within the fashion industry that while clothing production has doubled since 2000, one in six of these new items never even reach the consumer. Otrium’s mission is supported by increasing legislation related to sustainability in the fashion industry, such as the EU Ecodesign framework that includes a ban on destroying unsold clothing and shoes. Otrium is therefore an attractive solution not only for international fashion brands but also for consumers who benefit from the varied and high-quality offerings at attractive prices. Over 300 fashion brands are available at discounts of up to 75%.About B Lab B Lab transforms the economy to benefit all people, communities and the planet. As a leader in economic system change, its global network creates standards, policies and tools for businesses. It also certifies companies – known as B Corps – that are leading the way. To date, the global community includes over 9,400 B Corps spread across 92 countries and 161 industries, with more than 200,000 companies managing their impact using the B Impact Assessment.See also undefined

As part of Otrium’s journey to being part of a smarter fashion industry, end-of-season fashion platform is signing up to Science Based Targets initiative (SBTi) and backing its drive towards delivering ambitious corporate climate action. Otrium wants to have a net positive impact. This means making a positive impact through its business model while taking ownership of the greenhouse gas emissions Otrium’s own business creates.Working towards a future where all clothing is worn, Otrium, together with its brand partners, gives unsold items the best chance of finding an owner. Otrium helps brands do this by polishing and matching end-of-season fashion as well as moving away from excess by introducing Data-Made Fashion focusing on data and making use of excess fabrics.Otrium is the first stand-alone off-price fashion business committing to setting Science Based Targets. By that, Otrium will join a global movement of companies aiming to limit global warming to 1.5 degree maximum, in line with the Paris Agreement of 2015.Says Marlot Kiveron, Head of Sustainability at Otrium, “We’re ambitious to create a smarter fashion industry, and committed to do so without compromising our own operational impact as a company.”  “We’ve pledged to report within the SBTi framework, transparently and in line with science.” “We have conducted our first undefined that will function as a baseline to set targets. Next up is the process of setting our Science Based Targets, driving our carbon reduction roadmap and annual reporting on our progress.” Follow our journey undefined.

• Otrium to focus on European market amidst 40% revenue growth in 2023 to date • Targets Q4 2024 break-even with full-year profitability in 2025 • Company to transition US business to Rue Gilt Groupe • Additional €16.6 million equity investment from existing investors • European Otrium business with first break-even month in November 2023Otrium announces its plan to sharpen its focus on the European market and targets profitability for the fourth quarter 2024, with full-year profitability in 2025. Otrium will accelerate its path to profitability by transitioning its US business through a strategic arrangement to Rue Gilt Groupe, the leading premium and luxury off-price e-commerce company in the US.To further its mission of helping to ensure that all clothing produced is worn - thereby supporting fashion brands to recover value and minimize waste - Otrium has secured an additional €16.6 million in equity investment from existing investors. The recent funding was co-led by Index Ventures, BOND Capital, and Eight Roads, who also led the company’s Series C funding round.Milan Daniëls, co-founder of Otrium, states: “This year has been very promising: we have seen significant growth in Europe and achieved our first break-even month in November. This progress strengthens our path to profitability. The renewed commitment from our investors demonstrates their confidence and positions us strongly for the upcoming years.”Otrium’s growth in European markets in 2023 follows a financial year 2022 marked by macroeconomic uncertainty and inflation, alongside a consumer shift back to brick-and-mortar retail post-pandemic. In 2023, Otrium achieved a significant 40% year-on-year revenue growth in the EU.A key contributor to Otrium’s ongoing performance improvement has been significant investments in technology and logistics. Notably, the company introduced an advanced made-to-measure packaging machine, impacting cost efficiency and reducing CO2 emissions by over 50% per item shipped, and made significant improvements to its consumer-facing product, offering a scalable and more personalized mobile-first experience. These investments have been made predominantly over the course of 2022.To execute on its new strategy, the company appoints its current CFO, Frank van Valderen, as its new CEO, effective January 1, 2024. He will succeed Zuhairah Washington, who closes her tenure with full support after successfully overseeing the growth and transition of the US business to Rue Gilt Groupe. Van Valderen brings extensive experience from his previous leadership roles at Zalando and Philips, and his recent position as CFO at Dutch e-commerce retailer Wehkamp.The company remains focused on its goal to expand its market share in Europe, redefining how consumers perceive and shop for end-of-season and archived fashion. Otrium’s ambition for profitable growth is connected with its commitment to promoting practices and opportunities to help minimize fashion waste.For more information, please visit press.otrium.com or contact [email protected]