Made.com buys online marketplace Trouva
By Michele Maatouk
Date: Monday 09 May 2022
(Sharecast News) - Made.com said on Monday that it has bought online marketplace Trouva for an undisclosed sum.
The company said that loss-making Trouva, which was launched in 2015, is the leading platform to discover independent boutiques and brands offering customers a curated range of homewares, lifestyle and fashion products.
Trouva will continue to operate as a standalone brand led by the current leadership team of chief executive Alex Loizou and chief operating officer and Dimple Patel.
Made.com CEO Nicola Thompson said: "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."
Made said total cashflow on the combined acquisition consideration and capex is now expected to be £13m to £18m for 2022, compared to previous guidance of £15m to £20m.
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