The outlet platform Otrium is starting 2024 with some changes. These include a change in CEO and the sale of the US branch, as Zuhairah Washington, the now former CEO of Otrium, announced in a post on the career network LinkedIn.
Washington had not been CEO of the company for very long. Her appointment was announced in July 2023. At this point, she had already been working as President and Chief Operating Officer at Otrium since 2021. Washington’s job was to put Otrium on the path to profitability in Europe and further scale the platform in the US. She will now hand over the role of CEO to Frank van Valderen, who previously served as Chief Financial Officer and joined the company in 2023.
The change in CEO is based, among other things, on the sale of the US division to Rue Gilt Groupe. Washington described the group as a “premium and luxury low-cost e-commerce company.” The sale brings the focus back to the European branch. “Given Otrium’s focus on Europe, it makes sense to me to pass the baton at this time to a market leader who has full-time operations in this market,” Washington said on LinkedIn. Otrium will therefore continue to have a “strategic focus on the European market and profit targets” from now on.
Otrium was founded by Max Klijnstra and Milan Daniels. The company offers a complete e-commerce program, from photography to logistics and aftercare. The platform works with fashion brands to sell excess inventory in the online outlet. Around 300 brands are connected to the platform.
This translated article previously appeared on FashionUnited.nl