This strategic move signifies a step forward in Trove's rollout of its international platform, enhancing the availability and efficiency of branded resale for brands across 30 nations.
Trove CEO Terry Boyle said: "The acquisition comes at a strategic time as changing European legislation around producer responsibility and right-to-repair creates urgency for brands to establish effective resale, repair, and recycling programmes.
“By establishing our European headquarters in Berlin with a team that's been operating in resale for nearly five years, we're positioned to serve European and global brands seamlessly across regions and provide them with the full capabilities they need to launch and scale successful resale programmes."
The merger of Trove's technological infrastructure with reverse.supply’s European market knowledge positions Trove to deliver a suite of scalable technological solutions.
These solutions cater to brands looking to adopt circular economy practices in North America, Europe, and the UK. The solutions encompass a variety of services including omnichannel trade-in options, returns management, direct customer resale platforms, marketplace integrations, peer-to-peer commerce capabilities, and repair services.
With this acquisition, Trove also inherits reverse.supply's list of European partners like ARMEDANGELS, Bergzeit and Hessnatur, Decathlon. Clients of reverse.supply will also benefit from access to Trove's entire technology suite.
reverse.supply co-founder Max Große Lutermann said: “The acquisition enhances our ability to deliver greater strategic value to European brands and retailers.
“With our merged expertise and Trove’s technology, we can now offer a scalable, profitable circular solution that’s even more tailored to the specific needs of each brand or retailer.”
This acquisition is built upon previous international efforts that have set the stage for Trove's expansion. Such efforts include establishing a global third-party logistics (3PL) network, expanding capabilities within the UK, Europe, and Canada, and forging partnerships with brands from the UK and EU markets.
The entire team from reverse.supply will integrate into Trove, with the co-founders leading the new European headquarters in Berlin.
reverse.supply co-founder Janis Künkler added: “The timing of this transaction is pivotal, as brands and retailers in Europe are facing new legislation and actively seeking profitable, future-proof revenue streams. By bringing Trove’s proven technology to Europe, we’re positioned to help brands navigate these changes and build successful resale programmes. This deal underscores both the relevance of resale and the strength of the European fashion market.”
This acquisition follows Trove's August 2024 strategic purchase of Recurate, which expanded its peer-to-peer resale capabilities, Shopify integrations, and operational networks.
