Trouva, the online platform for independent fashion and lifestyle boutiques, has marked its first birthday by reporting figures that show a 50% month-on-month growth and has also outlined its international ambitions.
While the business did not release specific financial figures it has stated that its sales are now in the “multi-millions” and that it represents 160 partner retailers across the UK. The site now stocks more than 35,000 fashion and interior design products and has delivered to more than 2,500 cities worldwide.
Its aim is to help independent retailers compete against bigger players by offering them a global shop front (Trouva delivers to the US, Australia and Europe) and giving them the platform from which to grow their business. Some retailers have reported sales exceeding £75,000 from the site, including Our Daily Edit in Brighton, which stocks contemporary brands such as MiH Jeans, Kestin Hare, Veja and LF Markey.
“Trouva is our window to the wider world. Since partnering with Trouva, we have seen a significant increase in revenue. We share a common passion for uncovering unique products and the marketplace offers access to a previously unobtainable global audience, with no increase in fixed costs or labour,” said Our Daily Edit owner Ella Wells.
Other leading independent fashion boutiques on the platform include Black White Denim in Cheshire, The Hambledon in Winchester, White Feather in Brixton, and Diverse in Tufnell Park.
Trouva (its name is derived from trouvaille, meaning “lucky find”) was founded by a team of leading retail and online experts from brands such as Notonthehighstreet.com, Jack Wills and One Fine Stay. Its backers include Octopus Ventures, Playfair Capital and Index Ventures who between them have been instrumental in the success of businesses such as ASOS, Farfetch, Net-A-Porter and Zoopla. To date it has received investment of $2.6m.
The next stage of development is international expansion said CEO and founder Mandeep Singh. “Trouva champions the best independent boutiques and their talented curators. Our focus to date has to been to build our community of retailers in the UK and establish our core proposition. As we look forward to next year, we plan to open to expand our boutique network internationally to Europe and beyond,” he said.