Fashion marketplace Trouva has been acquired by homewares and furniture retailer MADE who want to evolve their own marketplace operations. Although remaining separate, both companies will be led by chief executive Alex Loizou and chief operating officer Dimple Patel.
Trouva’s mission is, and always has been, to support independent businesses and showcase their unique home, fashion and lifestyle products to the world. As part of the MADE group, Trouva will continue on that mission and by joining forces with such an established retailer, we’ll begin to open up new and exciting opportunities for our community.– Alex Loizou, Co-founder and CEO, Trouva
The acquisition will enable MADE to improve and extend their offerings as well as better their cross-border capabilities with help from Trouva’s already established marketplace technology. Functionality around dropshipping, carrier integration and inventory management will all be a part of this brand evolution.
MADE will continue to operate as a design-led furniture and homewares business, while Trouva will continue to offer our vast mix of categories and products across homewares, fashion, kids, beauty, lifestyle and much more.
The company predicts to spend in the ranges of between 13 and 18 million this fiscal year on the acquisition of Trouva and capital expenditure.
We are delighted to welcome Trouva to MADE. Trouva brings an experienced team, a sector-leading technology platform and excellent choice of homewares, fashion and lifestyle products from some of the best independent retailers across Europe. It fantastically complements our own design-led homewares proposition and is a great strategic fit for MADE.– Nicola Thompson, Made CEO