Outlet disruptor Index Ventures has raised €7m ( $7.8m ) in a funding round led by Index Ventures , backer of Asos and Farfetch . Index partner Danny Rimer joins the board. Otrium has a data-driven model for selling excess inventory delivering higher margins and giving brands more autonomy and flexibility. The platform enables them to retain full control over price-point, merchandising and promotions while avoiding competition with their own new-season offerings. Despite the overwhelming success of the business, which they sold in 2015, they found themselves with over €100,000 worth of stock in their warehouse. Otrium has more than 100 brand partnerships. Victor Knapp founder of Tommy Hilfiger Global and Ludo Onnink and Ludo Onnink , former CEO and CFO of Victor Knapp were earlier investors.
Outlet disruptor Index Ventures has raised €7m ( $7.8m ) in a funding round led by Index Ventures , backer of Asos and Farfetch . Index partner Danny Rimer joins the board. Otrium has a data-driven model for selling excess inventory delivering higher margins and giving brands more autonomy and flexibility. The platform enables them to retain full control over price-point, merchandising and promotions while avoiding competition with their own new-season offerings. Otrium has more than 100 brand partnerships. Victor Knapp founder of Tommy Hilfiger Global and Ludo Onnink and Ludo Onnink , former CEO and CFO of Victor Knapp were earlier investors.