Trove says its acquisition of Recurate makes it the market’s “most scalable and comprehensive resale technology provider”, with more than three-quarters of US branded resale traffic.
The purchase allows Trove to use Recurate’s Shopify integrations, as well as its operational network and peer-to-peer expertise.
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Trove also named 29 new brand partners, including fashion brand Frank & Eileen and footwear brand Frye. The company already works with brands including Levi Strauss & Co, Patagonia and Allbirds.
Trove says the merger creates a “one-stop shop” for brands to launch profitable resale programmes and claims it can launch new resale platforms for brands in “as little as four weeks”.
Trove CEO Terry Boyle said: “This strategic acquisition strengthens our ability to provide brands with the tools they need to excel in the circular economy, offering greater flexibility and faster go-to-market solutions.”
“Joining forces with Trove allows us to offer a one-stop shop with best-in-class resale solutions,” added former Recurate CEO Wilson Griffin. “We’re excited to be able to offer these solutions to our existing customers while bringing more brands into resale. Our combined services will provide brands a breadth of resale models and programme design. We look forward to accelerating the resale space with Trove as we move into this next phase.”
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By GlobalDataIn August 2023 Trove received $30m in funding to support the growing demand for branded fashion resale items and aid its global expansion.
