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Otrium launches HQ in the cloud

As a global company, we don’t want to limit ourselves to just one office or location. Read on to hear about our move to a digital HQ.

9 SEPTEMBER 2021
As a global company, we don’t want to limit ourselves to just one office or location. Read on to hear about our move to a digital HQ.
Otrium was dreamt up as a digital-first company and we’ll always be that way. That’s why we’ve launched our HQ in the cloud.. It gives our employees, the O-team, the freedom and flexibility to carry out their work however suits them best. It also reaffirms our global, inclusive mindset.
Beliefs We hold four important beliefs that were the foundations of creating a HQ in the cloud. Firstly, we have a high-performance culture – we trust our teams to always deliver the best work. We understand that output is more important than the hours put in or the location the work was carried out in.
Secondly, we already do everything in the cloud – our meetings, documents, daily communications (next to our communication in real life or in our hubs). It’s all online so it makes sense to cement this with an HQ in the cloud.
Thirdly, we see all our hubs around the globe as equally important. All Otrium employees should receive the same employee experience. Last but not least, we see our hubs as social places where we can collaborate, concentrate and create. And we don’t want this process to stop just because our teams are in different cities or timezones. And everyone gets to choose the work model that’s best for them – and can change their work model twice a year to reflect their lives and changing circumstances as required.
Working models The Otrium work models include: remote first, hub first and a hybrid version of the two (50/50). With remote first, employees are 90% remote and will mostly work from another location other than our hub (so not necessarily working from home). With hub first, you’ll work from a hub for 80% of your time. We ask our O-team to keep working remotely for 20% of their time, to stimulate our digital way of working, productivity and to decrease commuting. The third model is our hybrid model, meaning you work 50% remote and 50% in one of our hubs.
Freedom and flexibility Finally, along with our HQ in the cloud, Otrium gives our team the freedom and flexibility to work remotely for eight calendar weeks per calendar year from another country than where registered on the employee’s contract. This could include working from another Otrium hub or location of choice.
When dealing with different time zones, we make sure we document as much as possible. We use Notion as our source for company-wide info, our employee handbook, team pages and for all meeting notes, slides and recordings. Whether it’s 8am in Amsterdam or midnight in Auckland, all our information will always be there – in the cloud.
Milan adds: “The future of work is flexibility. We’re building a truly global and diverse team. To do that we’ve created a model that adapts to people’s lives, instead of a one-size-fits-all model, which doesn’t reflect the way people want to work now. We’re giving our people the choice – in when, how and where they work. With our HQ in the cloud, we’ve developed a truly flexible working model that works for everyone, wherever they are in the world and whatever their personal circumstances. Our HQ in the cloud is the future of flexible working.”

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We are (officially) fur free

We’re on a journey to make fashion smarter, giving fashion-lovers the best possible online retail experience and making sure every item of clothing is worn. Going forward, we’ll be sharing more about our conscious roadmap and responsible choices.Throughout the fashion industry, 12% of the garments that are produced stay unsold.Our purpose is: All Clothing Should Be Worn.We’re tech-enabling designer brands to find an owner for every item they produce.In this post, we’ll be sharing why we became a member of the Fur Free Retailer program, what this means and how you can join this movement to be fur free.The definition of furFirst things first: Fur means any animal skin or part of an animal with hair or fur fibres attached, either in its raw or processed state or the pelt of any animal killed for the animal‘s fur.What is not fur, and what we will keep selling:undefinedundefinedundefinedIntroducing the policyWe recently became an official member of The Fur Free Retailer program, which is supported by the Fur Free Alliance (FFA) – an international coalition of leading animal and environmental protection organisations worldwide.In a nutshell: An international effort to give consumers accurate information about a retailer’s fur policy, allowing consumers to make an informed choice when shopping.From a day-to-day perspective our platform will stay the same, as we currently do not have any garments that contain fur. Having this accreditation makes this official – for our customers and for our partners.We have chosen to sell leather and other animal derived materials – but not the pelt of any animal killed for the animal‘s fur. As more vegan alternatives, innovations and products come to market we will continuously reassess our policy regarding animal-derived materials like leather.Becoming fur free is a first small step of our journey, with the goal of having a positive impact on the fashion industry.Conscious brands at OtriumWe’re always on the lookout for Conscious brands so if there’s a brand you love for their sustainability credentials that you feel we should be featuring please reach out to undefined.How can you be fur freeWhen purchasing a garment with faux fur, check the points below to be sure you’re not wearing real fur. Sometimes, faux fur is being substituted for real fur by some manufacturers. You can follow these four checkpoints:undefinedundefinedundefinedundefinedundefined.
Clothing brands partner with Otrium to find a home for every unsold item, and leverage its tech platform to unlock the commercial potential of end-of-season fashionAmsterdam, March 31, 2021 - Otrium, the end-to-end marketplace for end-of-season fashion, has announced $120 million Series C funding, its US launch and the introduction of new capabilities aimed at reducing unsold fashion in the future. Otrium has also revealed that revenues have tripled in 2020, Otrium’s registered members surpassed 3 million, and it now has over 300 fashion stores on its app. Among its partners are Karl Lagerfeld, Joseph, Anine Bing, Belstaff, Reiss and ASICS.The $120m round was co-led by BOND and Index Ventures. Juliet de Baubigny, a general partner at BOND, will join Otrium’s board of directors. The round also had continued participation from Eight Roads Ventures. The newly raised capital will accelerate US expansion, the development of Otrium’s technology platform, and support hiring.Otrium is working with the fashion industry to ensure that every item of clothing is worn, helping to find a buyer for every piece already produced, and providing the tools brands need to develop lines that they can have confidence will sell. When selling end-of-season collections on Otrium, fashion houses retain full control over pricing, merchandising, and visibility of their excess inventory. Around, 12% of clothing produced stays unsold.“Our goal is to get as close as possible to eradicating unsold seasonal inventory. Firstly, we help fashion brands find homes for clothing items that would otherwise remain unsold and maximise the revenue they generate on those items. Secondly, we leverage our in-depth analytics to help brands determine which clothing and at what quantities and price will sell the most in the future,” commented Milan Daniels, CEO and co-founder of Otrium.Otrium recently rolled out expanded analytics functionality which helps fashion houses analyse past demand to determine which items have staying power, potentially becoming iconic items for brands. “We believe that the fashion world will see a rebalancing in the next few years, with more sales being driven by iconic items that brands sell year after year, and will be less reliant on new seasonal launches. We work with brands to help them understand which of their items will stand the test of time, at what price and quantity,” Daniels added.“I look forward to partnering with the Otrium team as the company expands to the US, and believe the platform is well-positioned to bring dynamic and affordable solutions to the apparel market,” said Juliet de Baubigny, a general partner at BOND.“The notion of brands producing fewer new items and focusing more on what their customers love and buy over and over again, is powerful,” said Danny Rimer, Index Ventures General Partner and board member of Otrium. “It’s not an entirely new strategy in the fashion industry, but one that was limited to a few items and a small proportion of global fashion brands. With Otrium, every fashion label can begin to build their iconic portfolio.”
Washington will lead global expansion of the brand into the U.S. Andrew Robb, the Farfetch’s former COO, to join boardAmsterdam, 15 June, 2021 - Otrium, the premier online outlet shopping experience, today announces the appointment of Zuhairah Scott Washington as President. Joining from Expedia Group, she brings her experience in navigating digital transformation and business model disruption to Otrium’s rapidly expanding end-to-end marketplace for fashion.
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