Made.com acquires online marketplace Trouva to accelerate strategic priorities
Made.com has acquired online platform Trouva for an undisclosed sum, stating the acquisition will accelerate its strategic priorities of "choice" and "reach".
Launched in 2015, loss-making Trouva is a sales platform for independent boutiques and brands, offering customers with a curated range of fashion, homewares, and lifestyle products.
The marketplace will continue to operate as a standalone brand led by the current leadership team including CEO Alex Loizou and Chief Operating Officer Dimple Patel.
The group said the acquisition of Trouva is expected to accelerate the expansion of homeware SKU count on Made's curated marketplace, while its cross-border functionality will help to increase the distribution coverage for Made's marketplace product offer.
Made added that the total cashflow on the combined acquisition consideration and capex is now expected to be between £13 million to £18 million for 2022, compared to previous guidance of £15 million to £20 million. The acquisition will be fully funded by cash and is "expected to deliver a strong return on investment".
Nicola Thompson, CEO 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. 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."