The patronage reflects the alignment between Otrium’s vision of a world where all clothing is worn and the British Fashion Council’s ambition to build a successful circular fashion economy.
As a patron, Otrium will support the British Fashion Council (BFC) to deliver significant and impactful programmes that positively impact the industry at large. Specifically, Otrium will play a key role in helping the BFC to develop strategies for more sustainable business practises and how fashion brands report their environmental, social and corporate governance (ESG) progress and credentials.
As part of the patronage, Milan Daniels, co-CEO and co-founder at Otrium, will also join the BFC’s Industry Advisory Board to oversee, support and advise on key issues facing the industry.
Otrium joins 36 existing patrons of the British Fashion Council including Depop, Farfetch, Yoox Net-A-Porter, Burberry and Chanel.
“Embarking on a patronage with the BFC is an important milestone for Otrium. We see a future where all clothing is worn and supporting the British Fashion Council’s work is a major step towards getting there. We look forward to collaborating with the British Fashion Council’s wider network and driving long-term positive change in the industry,” Daniels says.
Otrium was designed to solve the fashion industry’s unsold inventory challenge by giving fashion brands an online outlet channel and the digital tools to smartly connect their end-of-season collections with fashion lovers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Otrium believes all clothing should be worn and works to ensure its brand partners give their unsold items the best chance to find an owner. It says its technology helps brands in three ways:
- Smartly matching all inventory on its platform with its community of over 3.5m fashion lovers. Otrium receives and polishes every item in its warehouses to ensure they are optimal before featuring on the site – which includes product photography, product descriptions, garment pressing, steaming and new packaging when required.
- Data-made fashion to remove the guesswork from clothing creation, paving the way to a future without excess inventory. Data-made fashion enables brands to produce items based on the sales data of existing successful pieces, shopping habits and customer demand.
- Repairing and refurbishment of returned items that would otherwise never be sold. With around a quarter of all industry wide e-commerce fashion sales returned, often slightly damaged and unable to be resold as is, Otrium’s refurbishment services are able to solve this with around half of all its returns being restored and sold.
Caroline Rush, BFC chief executive, adds: “We are delighted to welcome Otrium as a BFC patron. As we embark on an important journey to make the British fashion industry circular, Otrium’s expertise will be crucial for our extended network. We look forward to working with Otirum to create positive change across the industry.”
The patronage comes as Otrium hits new heights, with more than 3.5m registered members and 400 brand partners now live. Recent labels joining the roster include Zadig and Voltaire, All Saints, Viktor & Rolf and Thakoon.
It also follows the news announced earlier this week that as part of its journey to being part of a smarter fashion industry, Otrium is signing up to Science Based Targets initiative (SBTi) and backing its drive towards delivering ambitious corporate climate action.
The company claims to be the first stand-alone off-price fashion business committing to setting Science Based Targets with the aim of achieving net-zero carbon emissions by 2050 at the very latest.
“We’re ambitious to create a smarter fashion industry, and committed to do so without compromising our own operational impact as a company,” says Marlot Kiveron, head of sustainability at Otrium. “We’ve pledged to report within the SBTi framework, transparently and in line with science.
“We have conducted our first carbon footprint report 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.”
Towards the end of last year, Otrium partnered with Good On You to give its members more information on the brands that go the extra mile on sustainability – with a focus on people, planet and animal welfare.