undefined, we talked about the challenge of damaged returns, and how we give half of these items a second chance on our platform through repairs. Unburdening our Fashion Brand Partners to maximise margins while preventing these pieces from going to waste.  The other half of these items cannot be restored to perfect condition. We provide a few alternative routes to repurpose these items. Our Fashion Brand Partners get presented the options to either sell these to stock buyers or receive them back at their warehouse to repurpose in other ways. The last option is not ideal as this creates a double logistical movement: from the Otrium warehouse → to the partner’s warehouse → to the partner’s recycling  partner. Resulting in additional costs, and climate impact coming from packaging and logistics.  In May 2024, we teamed up with Fashion to Fiber and Frankenhuis (both part of Boer Groep) to offer local mechanic textile recycling as an alternative for sending these items back to the warehouses of our Fashion Brand Partners. The items are collected in reusable bags and moved from our warehouse to Frankenhuis, which is across the street. 

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

At Otrium, we're thrilled to share the progress we've made in 2023 and to reaffirm our commitment to creating a positive impact in the fashion world. This year, we assessed the development across four priorities of our impact strategy: extending the life cycle of fashion, climate & nature, inspiring better choices, and responsible leadership. While these achievements are a source of pride, we’re even more excited about our plans for continuous improvement.Curious about our success, ongoing efforts, challenges, and plans for the future? Read undefined!Here’s a summary of the must-know insights:undefined Otrium’s main goal is to fight textile waste by finding new homes for unsold fashion items. In 2023, we made great strides: - We resold 3,5 million past-season clothing items through our undefined and rerouted an additional 1,145,922 goods using the undefined.- We undefined 7,074 garments to local communities.- About 50% of the damaged items were repaired using the undefined.- We undefined 200,571 best-selling items for outlets, basing our decisions on data and using excess fabrics for smaller collections - though this reproduction is a small part of our business compared to the industry average (5.5% versus 25-60%). All in all, we exceeded our goal of expanding our services to save 25,000 pieces. While we chose to postpone the launch of the Environmental Recovery Value B2B platform, we did create an internal dashboard that showcases carbon emissions avoided and waste saved per item, as well as conducted our most extensive research on impacts with findings set for release in 2024.