Otrium, the outlet platform, is undergoing significant changes at the start of 2024. This includes a major leadership shift and the divestiture of its American branch. Zuhairah Washington, who recently held the position of CEO, announced these developments in a LinkedIn post.
Appointed as CEO in July 2023, Washington had a relatively short tenure at the helm, having previously served as president and chief operating officer since 2021. Her primary objective was to steer Otrium towards profitability in Europe and expand its presence in the United States. With these goals in mind, she is passing the CEO responsibilities to Frank van Valderen, the company’s chief financial officer since 2023.
This executive transition aligns with Otrium’s strategic decision to sell its US operations to Rue Gilt Groupe, a company specializing in premium and luxury off-price e-commerce. Washington emphasized that this move refocuses Otrium’s efforts on the European market, which she believes warrants a leader more entrenched in this region.
Founded by Max Klijnstra and Milan Daniels, Otrium offers a comprehensive e-commerce solution encompassing everything from photography to logistics and customer care. The platform collaborates with fashion brands to sell their surplus inventory online, boasting partnerships with around 300 brands. With its renewed focus on Europe, Otrium is positioning itself to concentrate on profitability and strategic market dominance in the region.