British homeware and furniture retailer Made.com Group has announced plans to buy Trouva, a London-based marketplace for independent boutiques.
The deal is expected to accelerate the expansion of homeware SKU count on Made’s curated marketplace, “giving customers even more variety and newness”.
Also, it aims to leverage Trouva’s cross-border functionality to increase the distribution coverage for Made’s marketplace product offer.
Noted that, Trouva will continue to run as a stand-alone operation, under the current leadership of Alex Loizou and Dimple Patel.
Nicola Thompson, CEO, Made, said, “The acquisition brings together an experienced and skilled team as well as a sector-leading technology platform in addition to excellently procured choices of homewares products.”
Made also said that the acquisition would mean it will be able to avoid some anticipated investment spending on its marketplace business.
Alex Loizou, Cofounder, CEO, Trouva said, “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, they will continue on their mission to support independent boutiques and brands by making their curation accessible, he added.
