Made.com has announced the acquisition of Trouva, a leading independent boutique and brand discovery platform which offers customers a curated range of homewares, lifestyle and fashion products.
Launched in 2015, Trouva is based in London, has relationships with over 700 boutiques across Europe, and has delivered to 34 countries worldwide this year.
Trouva will continue to operate as a standalone brand, led by the current leadership team of Alex Loizou (CEO) and Dimple Patel (COO).
Made says the acquisition accelerates its strategic priorities, particularly around choice and reach. Made also plans to integrate Trouva's marketplace technology into its existing tech stack, significantly enhancing functionality around dropship, carrier integration and inventory management.
The group intends to build out the existing Trouva tech hub in Portugal to create a new centre of excellence. The integration will be led by Made's CTO Geert Engels.
The acquisition will enable Made to efficiently scale its curated marketplace offering, and avoid some anticipated capex spend. Total cashflow on the combined acquisition consideration and capex is now expected to be £13-18m for 2022, compared to previous guidance of £15-20m. The acquisition will be fully funded by cash and is expected to deliver a strong return on investment.
Trouva is currently loss making, but Made says the enlarged group will leverage scale and marketing efficiency and expertise to improve its financial performance.
Made's CEO 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."
Alex Loizou, co-founder and CEO of Trouva, adds: "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."