Made.com acquires Trouva
Furniture retailer Made.com has acquired homewares platform Trouva as part of its growth strategy.
Launched in 2015, Trouva will continue to operate as a standalone brand led by the current leadership team following the purchase. The company has relationships with over 700 boutiques across Europe and has delivered to 34 countries worldwide this year.
In a statement, Made said the acquisition will accelerate the expansion of homeware SKU count on its curated marketplace. In addition, Made will benefit from Trouva’s cross-border functionality as it looks to increase distribution coverage for its marketplace product offering.
Made said it will be integrating Trouva’s marketplace technology into its own tech stack and will also build out the existing Trouva tech hub in Portugal to create a new centre of excellence. The integration of Trouva will be led by Made chief technology officer Geert Engels.
Nicola Thompson, chief executive of Made, said: “This acquisition brings with it an experienced and talented team, a sector-leading technology platform and excellently procured choices of homewares product that will resonate with the Made target customer.
“Trouva’s assortment complements Made’s design-led homeware and home proposition superbly and is a great strategic fit for Made as we continue to enhance our marketplace offer. T
“This acquisition will allow us to significantly accelerate our growth strategy by expanding our curated product range – giving our customers more choice and newness – and scaling the business in key territories both established and targeted by leveraging Trouva’s exceptional cross-border technology.”
The acquisition will be fully funded by cash and Made expects it to deliver a strong return on investment, although Trouva is currently loss making.
Alex Loizou, co-founder and chief executive of Trouva, said: The combination of the two businesses enables us to leverage synergies across our brands, customers and our technology platform. By becoming part of the Made group, we will continue on our mission to support independent boutiques and brands by making their curation accessible.
“We look forward to continuing growing Trouva’s marketplace offer while extending the range of curated products available to the Made customer.”
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