Trove Acquires Recurate, Expanding Leadership in Branded Resale Market
Slice of Retail Team
Aug 15, 2024
Key Highlights:
- Trove acquires Recurate, expanding its dominance in the branded resale market.
- Combined platform offers brands a one-stop shop for launching and scaling resale programs.
- Trove now controls over 75% of U.S. branded resale traffic.
- New brand partners include Steve Madden, Frank & Eileen, and Michael Kors.
- Global expansion planned, focusing on Europe and the UK.
Source (Business Wire)
Quotes
“ “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.” ”
Terry Boyle, CEO at Trove
Our Take:
Trove's acquisition of Recurate marks a significant consolidation in the branded resale industry, positioning Trove as the clear market leader with unmatched capabilities. This merger not only broadens Trove's service offerings but also accelerates the adoption of sustainable and profitable resale models. With the integration of Recurate's peer-to-peer expertise and Shopify integrations, Trove is set to offer an unparalleled platform for brands seeking to enter or expand in the resale market. This move will likely drive increased brand participation in the circular economy, benefiting both businesses and the environment.
-b28c343b-3918-4d53-8d50-c7684d49f309.png&w=3840&q=75)
