Made has bought Trouva, the platform that links independent homewares and fashion boutiques with online shoppers, and plans to use its technology to improve the functionality of its own marketplace.
Trouva, launched in 2015, is based in London and works with more than 700 boutiques across Europe, delivering to 34 markets. It will continue to operate as a separate business under Made’s ownership and will still be led by chief executive Alex Loizou and chief operating officer Dimple Patel.
Made aims to use the acquisition to improve its own marketplace, adding both more homeware lines and improved cross-border functionality, enabling it to deliver to more countries. It will use Trouva’s marketplace technology to improve functionality around dropship, carrier integration and inventory management, while building up Trouva’s Portugal tech hub into a centre of excellence.
Made expects to spend between £13m and £18m in the current financial year both on the acquisition – which is cash-funded – and capital expenditure.
Made chief executive Nicola Thompson says: “We are delighted to welcome Trouva to Made. 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. 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.”
Made chief technology officer Geert Engels is to lead the integration of Trouva.
Alex Loizou, co-founder and chief executive of Trouva, says: “We are excited for the future of Trouva as part of Made. 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.”
Made is a Top250 retailer in RXUK Top500 research. It sells online in eight European markets including the UK and through seven shops including two flagship showrooms in London and Paris.
